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...even the most conspiracy-minded find it hard to work themselves into a panic over Norway's Government Pension Fund-Global. That's not to say it's lacking in clout. With assets of $382 billion at the end of March, it's the world's second-largest sovereign wealth fund, trailing only the Abu Dhabi Investment Authority, which weighs in at about $875 billion. Norway's fund, flush with money from the nation's oil and gas, has stakes in 7,000 firms - from Google to Goldman Sachs, Deutsche Post to PetroChina. Astonishingly, the fund now owns about...
...piers: surging water may sweep them away. That's what happened on June 26, 1954, when a 10-foot seiche swept eight Chicago fishermen away in what meteorologists say remains the most destructive seiche recorded here. The Great Lakes are particularly vulnerable to seiches because they are the largest enclosed bodies of water in the U.S. Edward Fenelon, an NWS meteorologist in Romeoville, Ill., however, says fewer than three seiches are reported at each of the Great Lakes each year...
...Senate took up the bill - staffers were howling that Reid and Boxer were leading their bosses into the Valley of Death, forcing debate on a bill that didn't have the votes to pass, one that Republicans would soon be calling the "Boxer Climate Tax Bill" and "the largest tax increase in history" even though it offered nearly $1 trillion in tax cuts to help people pay for rising energy costs...
...Chavez controls the hemisphere's largest oil reserves, but an equally valuable commodity - the one that shields him from U.S. accusations that he's a dictator in the mold of Cuba's Fidel Castro - is his democratic legitimacy. Despite his authoritarian bent, Chavez has been fairly elected three times, and he can't afford to forfeit that cachet. That's why he surprised his critics by respecting the will of the electorate when he lost last year's referendum. The need to maintain his democratic credentials is also the reason why, in the face of howls from civil rights groups...
...during the Sadr Uprising instigated by the Mahdi Army that engulfed several cities in late March. While many Iraqi soldiers in Basra and Baghdad either refused to take up arms against other Shi'as or even handed over their weapons to them, General Ali's soldiers in Mahmudiya, the largest city in the area, stuck through five days of heavy fighting that killed five Iraqi soldiers and 25 insurgents. Ali threw approximately 1,000 Iraqi soldiers into the battle, devised and directed their missions to clear the city, and visited the battlefronts repeatedly to provide firm leadership presence. "This...