Word: fee
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...adds that it may even lure new members to the site. But the free-music model looks like it may end up costing MySpace and other providers more than they had originally bargained: In an agreement announced Sept. 23, the music industry said it planned to adopt a sliding fee scale for free-music-streaming sites; instead of the 9.1 cents per song that is currently paid to songwriters, composers and producers, streaming sites will now owe about 10.5% of their overall profits. For listeners, however, the music will still be 100% free...
...BAILOUT Less than a year after leaving Harvard to return to a wealthy private financial fund, Mohamed A. El-Erian said in an interview with Reuters that his $812-billion firm would offer to manage part of the government’s proposed $700-billion bailout package for no fee. El-Erian—who managed Harvard’s now-$36.9 billion endowment from 2006 until late last year—currently serves as chief executive of California-based PIMCO, one of the world’s largest bond funds. The offer comes as Congress debates a plan...
...holdings online daily to prove they don't own a lick of dubious debt issued by other embattled financial firms. And then, on Sept. 19, the Treasury Department announced a $50 billion program to insure the holdings of any money market mutual fund - retail or institutional - that pays a fee to join the new program...
...demand that they deliver babies in clinics, where nurses can monitor their work. An hour east of Freetown, I visited a village where local elders had just passed a law requiring all women to give birth at a clinic or face fines of about $8--more than the clinic fee. And the World Bank, UNICEF and the British government's Department for International Development have agreed to jointly invest $262 million over the next three years to overhaul Sierra Leone's shambolic health system. "We will lose two or three more generations," says Geert Cappelaere, UNICEF's representative in Freetown...
...auction prices for contemporary art have rocketed ever higher, galleries have been dreading this very possibility: that a famous artist would bypass his dealers - who usually get a cut of roughly half of a work's sale price - and make straight for the auction houses. (The auctioneer's fee is paid by the buyer on top of the sale price, which means Hirst will walk away with pretty much every dollar his work gets hammered down for.) If it meets expectations, the sale could put about $120 million into Hirst's already well-lined pockets, a payday unlike anything...