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...well as to policymakers angling to prop up prices. At TIME's request, Moody's Economy.com ran numbers on price-rent ratios for a few dozen markets. "It's one way of estimating how out of kilter house prices are," says Andres Carbacho-Burgos, an economist at the analytics firm...
Still, Lehman and other firms were once structured in a way that made employees think long and hard about risk. They were partnerships, and partners couldn't cash in until they'd been on the job for decades. This amounted to an implicit clawback system, with the other partners doing the clawing. The partnership model began to break down in 1970, when upstart Donaldson, Lufkin & Jenrette sold shares to the public. Merrill Lynch followed a year later, and in 1999 Goldman Sachs was the last big firm to go public. Perhaps that was all a mistake. "It's a radically...
...Children’s Hospital’s attorney, William J. Dailey, Jr. of the Boston law firm Sloane and Walsh, could not be reached for comment yesterday...
...left-wing Chávez caught Washington by surprise in the fall of 2005 when he announced that Citgo - the Houston-based subsidiary of Venezuela's state-run oil firm, Petróleos de Venezuela - would give millions of gallons of heating oil at half price, and eventually free, to struggling households in the American Northeast and Midwest. By this year, the service has expanded to more than 200,000 families in 23 states. The partisan controversy around it has also grown. Republicans grouse that taking fuel from Chávez, America's chief antagonist in the hemisphere, is unpatriotic...
...responding to members of Congress who had made a public plea for oil companies to provide lower-cost home-heating oil to U.S. families squeezed by the rising price of fuel. No U.S.-owned firm stepped forward; Citgo did. (Sunoco has since set up a program that provides free heating oil to 1,100 residents in the Philadelphia area.) Admittedly, it was a chance for Chávez to showcase "one of our revolution's most important principles," as then Venezuelan Ambassador to the U.S. Bernardo Alvarez told TIME in 2006: "the redistribution of oil revenues, especially for the poor...