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...result is that many more banks than expected have the resources to repay the billions they got from the Troubled Asset Relief Program back in October. Morgan Stanley, for instance, came out of the stress test a month ago in need of $1.8 billion in additional capital. But in the past month the bank was able to raise nearly $7 billion by selling new shares of stock. The result: Morgan says those stock sales and other moves will allow the bank to repay all of its TARP funds by the end of June. And Morgan won't be alone...
...rescue artist. Over the years, he has swooped in as a director to save the Alvin Ailey American Dance Theater in New York City, the Kansas City Ballet and London's Royal Opera House, which had just canceled every performance for the next year and a half when he got there in 1988. In February the Kennedy Center launched a website--artsincrisis.org--where beleaguered administrators could go for advice on fundraising, programming, budgeting and marketing. Kaiser and his staff sometimes pay house calls to ailing organizations, and so far they have fielded more than 350 requests for help...
Will it work? "It's too soon to tell," she says. "But after we had that sharp decline, we did an urgent appeal to the community, and we got more than 800 contributions in one month--over $152,000. They came with all of these notes from people about how much they cared about the Beck Center. It really made a statement that especially in troubling times, it's important to people to have the release and escape of the arts and an opportunity to dream...
Over the past couple of years, though, the China equation got unbalanced. First came a spike in shipping costs that led manufacturers in the West to take a closer look at all the costs - time to market, quality control, etc. - of stringing their supply chains across oceans. While shipping rates have since subsided, the shift in mind-set among executives has stuck, says John Ferreira, head of the manufacturing practice at Archstone Consulting. No longer is there a herd mentality pushing them to China and other faraway places, he says. When Ferreira surveyed U.S. and European manufacturing execs late last...
...fellow "migraineurs," as he calls them, include Thomas Jefferson, Emily Dickinson, Lewis Carroll, Rudyard Kipling, Charles Darwin and Elvis Presley. Reading about their epic suffering, you wonder how they ever got anything done at all. But Levy raises the tantalizing possibility that their genius arose in part because of their migraines rather than in spite of them. He entertains the idea that migraines "make the clear moments that much clearer, the dark moments that much more unreachable." There is a quasi-Buddhist discipline to enduring them, and they leave in their wake a mind worn smooth and bright by their...