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...Investors judge the value of a currency relative to others. Though the U.S. economy may be in its worst condition in almost 30 years, the rest of the industrialized world isn't any better off. "The dollar should be much weaker," says Nouriel Roubini, the bearish chairman of research firm RGE Monitor in New York City. "The problem is, not all currencies can fall relative to each other...
Merkin operated several funds, including Ascot Fund, Gabriel Capital Corp. and Ariel Fund, totaling $2.4 billion, that fed into Bernard L. Madoff Securities LLC, the so-called investment firm run by Madoff. In total, Merkin is charged with 720 breaches of fiduciary duty in raising, through social and charitable connections, over $4 billion, which he turned over to third-party money managers, like Madoff...
...Missoni home collections, partnered with the Brussels-based hotel group Rezidor to translate the company's signature colorful knits into a luxurious hotel environment. "I want the hotel to look and live like my home," says Missoni. The 136-room property, designed by Matteo Thun & Partners, the Italian firm responsible for Missoni's New York City flagship, will feature meeting spaces, a fitness suite, Cucina Missoni restaurant...
Lost Bags Found. It seems the airlines may be getting at least one thing right: SITA, an air transport communications firm, reports a 20% drop in mishandled bags in 2008 - that's 10 million more bags finding their rightful owners. According to the report, most lost, delayed, damaged or pilfered bags are due to the transfer from one aircraft to another; 49% of lost luggage were pieces that were checked through on connecting flights and never made it to the luggage carousel. Other problems included bags failing to make it on the plane in the first place (16%) and ticketing...
...History would seem to side with the economists. In 2006, Detroit hosted the America's most gargantuan sports event, the Super Bowl, also at Ford Field. Fans gave the area a $274 million boost, according to one economic research firm. Over 90 million people watched the face-off between the Pittsburgh Steelers and Seattle Seahawks on television. Did the game lift Detroit long-term? Well, Detroit's unemployment rate is 13%, worst in the country among major metropolitan areas. The city's bonds have junk ratings. Because its school system has run up a $305 million deficit, the city...