Word: lowered
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Google's new CFO, Patrick Pichette, is leading the company's belt-tightening. A former executive at Bell Canada, his impact was already evident in the firm's third-quarter results, which it announced in October. Although the company's revenue was slightly lower than analyst estimates, earnings were higher due to cost-cutting measures spearheaded by Pichette, such as decreasing the number of new hires. "Google has certainly gotten religion on expenses, and that is due largely to the new CFO," says Sanford Bernstein's Lindsay...
...inherent about anything complex is that it becomes impossible. You can't design it perfectly," he says. What matters, he argues, is swarming problems from every direction to create high-speed, low-cost discovery and learning. And when you extend that open approach to suppliers, the path to lower-cost, better-functioning parts becomes easier...
...though, by commodity price volatility and fluctuating food and fuel costs. Mary Ellen Iskenderian, CEO of Women's World Banking, a global network of 54 microfinance institutions and banks in 30 countries, spoke to Time's Jeremy Caplan recently about how the financial crisis has affected those on the lower rungs of the world's economic ladder...
...Detroit Three, they don't have a choice this week. The weenies at Ford announced they were selling two jets (meaning, of course, that lower-ranking execs will be flying Northwest to the plant in Valencia) and driving a Ford Escape hybrid to Washington. GM has caved completely and shut down its air force, throwing 50 people out of work. (Thanks, Congressman Ackerman!) Maybe the President should send his helicopter for the GM honchos. He doesn't really have use for it now. And when some truly desperate Americans need a dramatic rescue, sending in Marine...
...relatively cushy lives inside the bubble. Layoffs hit at home—the equivalent of our financial aid. In these desperate times, financial aid is the only luxury students should never be asked to give up. Harvard has made a laudable and well-publicized effort to reach out to lower-income students, and this absolute good cannot change; especially as the markets plunge, financial aid becomes more and more crucial. Neither prospective students nor current students should ever find themselves unable to meet the asking price. Moreover, our university’s exceptional financial-aid programs have become part...