Word: marketably
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...because the law is only applicable to mutual funds, said Coates and Ramseyer. The case also sparked an extremely rare disagreement between Easterbrook and Judge Richard A. Posner, who typically vote together, according to Ramseyer. Easterbrook sided with the majority, saying that fee levels should be determined by the market, while Posner—who wrote a dissent—argued that compensation has become excessive and the courts should intervene. According to Coates, lower courts that have affirmed shareholder complaints have asserted that mutual funds rates are not determined by the market and should thus be externally regulated because...
...ROTC have reported growth in their Army programs this year, according to the Associated Press. Air Force ROTC Captain Joseph P. Adelmann, an instructor in aerospace studies at MIT, said that the increases may be due to the draw of ROTC scholarships and the current state of the job market. “I know in the past few years we’ve seen some increase from what [the numbers] had been previously,” Adelmann said. “Part of that could be due to the economy, could be the job security thing after college, because...
...Detroit fell victim not to one malign actor but to a whole cast of them. For more than two decades, the insensate auto companies and their union partners and the elected officials who served at their pleasure continued to gun their engines while foreign competitors siphoned away their market share. When this played out against the city's legacy of white racism and the corrosive two-decade rule of a black politician who cared more about retribution than about resurrection, you can begin to see why Detroit careened off the road...
...This defiant inattention to market reality not only placed the less healthy firms in peril, but by pricing labor so uniformly high, it also closed off Detroit to any possible diversification of its industrial base. When the automakers' inattention to engineering, style and quality caused them to crash into a wall of consumer indifference, there was no other industry that could step forward and employ workers who would have been thrilled to make even a fraction of what they once earned. Now nearly 1 in 3 Detroit residents is out of work - and not many of the unemployed have...
...industry has left all of southeastern Michigan dazed and bleeding. And yet the conditions for resetting that economic model couldn't be more favorable. The collapse of the UAW's prohibitive wage scale, coupled with the vast unemployment, is turning what was once the nation's most expensive labor market into one of the cheapest. For the first time since Henry Ford offered $5 a day to the men who assembled the Model T back in 1914, Detroit is open to new industry...