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...amazed that TIME's cover story made no mention of the Big Three's most obvious and most easily remedied failure: clueless marketing. Consider that GM, arguably the world's biggest car company, is worth far less today than Harley-Davidson, the world's fourth largest motorcycle maker. Dexter Ford MANHATTAN BEACH, CALIF...
...York Anatomy of a Scam Celebrated money manager Bernard Madoff was arrested for allegedly bilking investors out of up to $50 billion in a Ponzi scheme described as one of history's largest swindles. The scam's blueprint hasn't changed much since Charles Ponzi's 1920 fraud: 1 Entice investors by promising an unusually lucrative rate of return. 2 Use a portion of the raised capital to pay out early dividends, thereby giving the appearance of legitimacy--which in turn attracts more investors. 3 Pay off earlier investors with money accrued from later victims. 4 When no further capital...
...announcement comes two weeks after news that Harvard's endowment, higher education's largest, fell 22 percent—or $8 billion—in four months from its June 30 value of $36.9 billion...
Yale's endowment—the second largest in higher education—has lost an estimated quarter of its value since June 30, plunging to $17 billion from $22 billion this summer, Yale officials said Tuesday...
...tapped Duncan to be schools chief in 2001, after first offering the job to someone else. Duncan was only 36 and had never before held a high-powered post and had never even had his own secretary, according to the Chicago Tribune. The Chicago school system is the third-largest in the country...