Word: lasting
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...taking advantage of these vehicles' ability to fence off liability so that entrepreneurs are not risking their entire financial viability in any one venture. In practice there can be multiple incorporations in a single deal. But critics say that the original intent of incorporation has been corrupted in the last 20 years as the conveniences offered by offshore tax havens - demand turbocharged by a boom in financial engineering - has degenerated into a race to the bottom to sell secrecy. (See 25 people to blame for the financial crisis...
...halt these abuses Democratic Senator Carl Levin has reintroduced a bill he co-sponsored last year, with then Senator Barack Obama, that makes a seemingly simple new demand - that states add a single additional question to their incorporation application: Who are the beneficial owners? (Foreigners would also have to provide a copy of a passport-page photo.) The intent is to introduce the same standard - know thy customer - banks have had for years...
...were heading. The iPad interface - like the iPhone's - tries to do everything in its power to do away with documents and files. There is no Finder or root-level file navigation. It's apps, apps, apps, as far as the eye can see. According to the demo last week, the main way to launch iWork documents is by an internal document-selection process after launch, where your files are presented to you in a gallery format. (See pictures of the iPad's unveiling...
...have no inside information on this, but given the inventiveness of the iWork user experience, I can't help thinking that an iPad-native home environment was a project that didn't make the ship dates, and that they slapped on the old iPhone screen for continuity at the last minute. But time will tell...
...members are running deficits to ease their way through the global recession, with the average pegged at 7.5% this year. Three years ago, the E.U.'s deficit average was just 0.8% of the bloc's total GDP. That figure increased to 2.3% in 2008 and then spiked to 6.9% last year. (See 25 people to blame for the financial crisis...