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...recent morning, a crowd filled a downtown Detroit courtroom for the sentencing of a 19-year-old ninth-grade dropout caught breaking into a public school, apparently to steal computers. The hearing's main attraction was not the guilty man or the judge but Robert Bobb, the state-appointed emergency financial manager of Detroit's public schools. In the last six months of 2009, Bobb told the court, nearly 500 computers were stolen from schools, costing his system some $600,000. "The Detroit public-school system isn't an electronics store," he said...
...Crude palm oil from Malaysia, which produces 45% of the global supply, is one commodity for which China has a vast appetite, yet cannot produce, according to research analyst Mark Matthews of Macquarie Securities. Low-grade electronics manufacturers in Thailand and Malaysia also stand to be beneficiaries. "These two markets are well positioned to take China's place at the lower end of the production network," says HSBC's Wong. (See the best pictures of the week...
Facebook is great at wasting your time, but could it keep you from doing hard time? So far, the site that connects people with their sixth-grade crushes and lets countless parents keep better tabs on their teenagers has helped at least one Facebook member stay out of jail...
...becoming a pariah state. Both Britain and Holland hinted that they may block a $10 billion International Monetary Fund rescue package for the country, and Iceland's Scandinavian neighbors shelved a $2.6 billion loan they had promised Reykjavik. On top of all that, Fitch Ratings lowered Iceland's credit grade to junk status last week. (See the worst business deals...
...don’t think they were that difficult to save,” Stone said. “When we had real Grade-A chances, we shot it right into [Vigilanti’s] pads or shot it wide. We played on the periphery and didn’t jump into the deep...