Word: formulaic
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...those pay numbers drifted up and up, to the point where Harvard paid its fund managers colossal bonuses (over $100 million for the two-year period ending in mid-2002) even when the value of the endowment declined. These bonuses have been based on a committee-contrived formula, never publicly disclosed, that pays bonuses based on performance “benchmarks” tied to market indices, not actual gains in value. One financial consultant at McGill University wrote us last year arguing that at least one of Harvard’s benchmarks had been chosen because it was notoriously...
...Mapmakers had long struggled with the problem of representing the round Earth on a flat map. The once widely accepted version by the Flemish Gerardus Mercator, for example, distorted Greenland to appear four times its actual size. In 1963, by focusing on aesthetics--and only later incorporating a mathematical formula--he devised a projection that became the basis for world maps by Rand McNally and many federal agencies...
...makeover. By melding the Sears savvy in selling so-called hard goods like dishwashers, lawn mowers and flat-panel TVs with Kmart's upmarket "soft" brands like Martha Stewart Everyday, Jaclyn Smith and Joe Boxer, the sales pitch goes, the two perennial retail losers just might create a winning formula. On the other hand, by combining two badly managed retail dinosaurs into one, wags say, the companies may simply save themselves some bankruptcy fees when they inevitably go extinct...
...looks like water. It pours, flows and sloshes like water. But it doesn't get things wet. Its name is 3M Novec 1230 Fire Protection Fluid, and its chemical formula looks like alphabet soup. (It's technically a fluorinated ketone, whatever that means.) But you can dunk a laptop computer in it, and it'll come out bone dry and working fine. That makes this wonder fluid perfect for putting out fires in offices, computer rooms and museums. Just don't try drinking...
...Congress just threw students who need Pell Grants to afford a college education out into the cold,” said Corzine in a statement. Last year, Corzine wrote an amendment to an appropriations bill that suspended the formula from being used. Democrats attempted to add the same amendment to this year’s bill...