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...news for Facebook: It lost its functional second in command today. Matt Cohler, 31, who oversees the Facebook "product" and is generally perceived to be the core of the original management team, is joining Benchmark Capital, a powerful Bay Area venture capital firm...
...minority investment last year), is likely vested by now. And he's not exactly leaving for a job in the Peace Corps. One of Benchmark's hallmarks is that all of its partners share in the wealth equally - a deviation from the typical star system at venture capital firms, where partners tend to be rewarded based on the deals they put together. The firm - which, with Cohler, now has nine partners - manages nearly $2.8 billion. Cohler said that another aspect of the novel partner arrangement, though, was what drew him to Benchmark. Since the partners share equally, each is vested...
...Walk Away does at least walk you through walking away. That's why Jim Lowry, a San Francisco--based maintenance manager, is pretty happy with the firm, even though it doesn't talk to his bank or do any other legwork for him as he tries to find a buyer before the bank repossesses his daughter's house. Lowry had talked to some other real estate types, but it wasn't until a phone conversation with a You Walk Away "advocate" that he felt he had a handle on the situation. "I'm not worried anymore. I know what...
Obama's rebuff of black fathers and his firm insistence on personal responsibility were calculated to win over socially conservative whites who were turned off by the Rev. Jeremiah Wright's tirades against persistent racism. But in his desire to appeal to such voters, Obama may have missed the balance that King maintained. Personal responsibility is a crucial, but only partial, answer to what ails black families. Huge unemployment, racist mortgage practices, weakened child-care support, stunted training programs for blue-collar workers who've been made obsolete by technology, and the gutting of early-childhood learning programs...
...that he has now largely won. With Bear Stearns, which the Federal Reserve forced into a fire sale to JPMorgan Chase, he cashed his checks quietly. But in the case of Lehman Bros., Einhorn engaged in a riveting public campaign to goad the firm into confessing its shortcomings. In mid-June, it more or less did. Einhorn, 39--a soft-spoken, baby-faced hedge-fund manager previously best known for winning $659,730 at the 2006 World Series of Poker--had briefly made himself the most important crusader for financial morality on Wall Street. Which may say less about...