Word: inkly
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...whose company just announced a record €1.4 billion third-quarter net loss, John Mack, incoming co-CEO of the Credit Suisse Group, sounds mighty confident. Despite the red ink, the affable American, whose manner belies his nickname of "Mack the Knife," is buoyant. "I'm an optimist," he told Time. Given Credit Suisse's recent track record, Mack could be accused of wishful thinking. Consider how the 146-year-old bank - Switzerland's second-largest, with operations globally - has seen its key divisions gouged by hostile market conditions. In the third quarter Winterthur, Credit Suisse's insurance arm, punched...
Germany has been awash in red ink this year, and no sector has been flooded worse - and with potentially greater consequences - than the banks. Last week Deutsche Bank, Germany's largest and considered its strongest, posted a surprise third-quarter, pre-tax loss of [EURO] 181 million, down from a [EURO]363 million profit for the same period in 2001. Deutsche's Munich-based counterpart HVB, Germany's second-largest bank and Europe's largest lender, also posted a third-quarter loss - of j447 million, compared to a j94 million profit for the same period last year. Commerzbank and Dresdner...
...forensics side, the FBI is examining the ink written on a tarot card found at one of the 12 shooting sites, hoping to link it to a specific kind of pen, law-enforcement sources told TIME. Agents dismissed as unrelated a shell casing found in a white box truck at a car-rental agency near Dulles Airport in Virginia. And the FBI is reviewing credit-card receipts from filling stations near the shooting sites, in case the killer staked out his crime scenes and gassed up while he was at it. The latest suspected shooting site was in Ashland...
Your 401(k) plan isn't the only retirement asset spilling red ink on your golden years. Professionally managed pension plans have been taking a beating too, raising issues not just for pensioners but also for stockholders of companies that offer such plans. Collectively, pension funds hold nearly $5 trillion, which secures steady income for millions of current and future retirees. Even though many employers have shifted to such "defined contribution" plans as the 401(k), 7 in 10 of the big S&P 500 companies still provide a "defined benefit" plan guaranteeing employees a monthly check after retiring...
Curator Wecsler showed some of her own works, the result of a trip funded by the Harvard College Research Program (HCRP) over the summer. Her small and vivid colored-pencil and ink drawings will become part of her senior thesis in East Asian Studies and VES on urbanization in Shanghai and Hong Kong. While their small size limited their ability to represent the vitality of the cityscape, the drawings will be more effective when accompanied by animation and an essay in their final form...