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...Four out of five of Spain's largest companies - Telefónica, oil company Repsol, BBVA, and utility giant Endesa - have chairmen appointed by the previous government. Some fear they will get turfed out. But while the government is said to have quietly encouraged Telefónica to invest more in broadband, for instance, few expect it to get heavy-handed. A drastic bloodletting, says José Manuel Campa, professor of finance at Madrid's Institute for Advanced Business Studies, "would send a very bad signal to the markets...
Harvard Professor of Economics David I. Laibson ’88, who has done extensive research on the effects of default options on human behavior, said that recent studies of 401(k) retirement plans have found that about 90 percent of employees invest money in the plan when it is the default option, while only 30 percent enroll when it requires an active choice...
Critics of the Bush Administration charge that the U.S. has failed to invest in "public diplomacy" programs aimed at improving the image of the U.S. in Muslim countries. The U.S. will spend $1 billion on public diplomacy this year, a figure that has not increased since Sept. 11 and that amounts to 0.3% of the country's defense budget. Of that amount, about $86 million goes toward cultural-and educational-exchange programs aimed specifically at the Muslim and Arab world. And yet even positive steps--like the creation of its own Arab-language television and radio networks--have been overshadowed...
BUSH He wants to make existing tax cuts for individuals and corporations permanent. Bush argues that with reduced income taxes, families have more to spend, and with lowered corporate taxes, businesses can invest in equipment. Laura Bush gave an example in her speech at the convention: the owner of an Iowa tow-truck company who used the credits to modernize her fleet...
...opulent standards. RECOVERING. BILL CLINTON, 58; after a four-hour quadruple-bypass operation during which doctors found his heart disease to be extensive, with some of his arteries over 90% blocked; in New York City. The former President was released from the hospital Friday. SENTENCED. FRANK QUATTRONE, 48, former investment banker to high-flying Silicon Valley companies during the Internet boom; to 18 months in prison; in New York City. He is appealing a May conviction for hindering a federal stock investigation involving Credit Suisse First Boston, but will be forced to begin serving prison time in late October while...