Word: lavishness
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Colonel Muammar al-Gaddafi must have seemed an incongruous sight—bedecked in his lavish, though traditional, gold attire with trademark sunglasses, the leader of Libya humbly laid his head down on the table at the African Union summit in Ethiopia in a gesture of diplomatic defeat. The normally confident Gaddafi was facing stiff resistance to his newest geopolitical plan, the United States of Africa. Unsurprisingly, many African nations have reacted coolly to Gaddafi’s plans for a politically united Africa, with the relatively wealthy and stable nations of South Africa, Ethiopia, and Kenya taking a prominent...
...occasion and make do with their salary caps. Wall Street’s image could not be much worse, and executives must take note that taxpayer and consumer confidence matters. In the long run, we hope that this debate sparks a deeper discussion on the extent to which lavish salaries and bonuses by CEOs can be justified, in times of crisis or otherwise. As for now, the salary caps will apply only so long as corporations are relying on the government’s bailout. In other words, the impetus is on executives to demonstrate, by leading their corporations...
...money from the government's Troubled Asset Relief Program (TARP). Said President Barack Obama: "We all need to take responsibility. And this includes executives at major financial firms who turned to the American people, hat in hand, when they were in trouble, even as they paid themselves their customary lavish bonuses." (See the worst business deals...
...real" Cyril will begin to emerge after he is installed Sunday in a lavish ceremony in Moscow. Benedict, who also was a prominent figure before his 2005 election, has both confounded and confirmed the reputation as a hardliner with which he arrived at the top job. Like the Roman pontiff, one thing that Cyril will surely find is that his new post will provide surprises for which all his previous experience could simply not have prepared him. And when he responds, the world will take notice...
...Befitting the grim economic climate, Shanghai newspapers are predicting that celebrations of the lunar New Year will be more muted than the lavish outlays of previous years. Local department stores have been slashing prices, and malls are less crowded than usual, with few heeding the promises of Shanghai Mayor Han Zheng that 2009 will bring 9% GDP growth for the city. Another gloomy indicator: Year of the Ox stamps issued by the Shanghai post office haven't been selling as well as their Year of the Rat predecessors. Even worse, the meteorological bureau predicts that the days on which...