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...While [Wells'] management's efforts to 'de-risk' Wachovia's problem loans may help in the near term, we still expect losses to exceed management's expectations," wrote analyst Paul Miller, who follows banks at FBR Capital Markets, in a recent report to clients. Miller, who rates Wells' shares "underperform," expects Wells' stock to fall by half its current price to $12. "Given our macro outlook ... we just can't get comfortable with Wells' balance sheet...
Spent: Sex, Evolution and Consumer Behavior Geoffrey Miller Viking, 483 pages...
...Gist: That iPhone in your pocket? That's for sex. As is pretty much everything you've ever bought, from the car you drive to the T shirt you wear - or so says evolutionary psychologist Geoffrey Miller. From mating to marketing, Miller explores how everyday consumer choices subtly - and sometimes not so subtly - reveal society's misguided attempts at projecting four central traits (intelligence, conscientiousness, openness, agreeableness) to attract sexual partners. (See how Americans are spending...
...Lowdown: Like Sigmund Freud, Miller sees sex everywhere; all our acquisitions of personal goods, according to Miller, are motivated by the primal desire for procreation, pleasure or both. Though he advocates abolishing income taxes in favor of a "consumption tax" and learning to buy secondhand, he isn't a utopian hippie radical either. "Unlike many malcontents," Miller writes, "I consider the three best inventions of all time to be money, markets and media." But while Miller does his best to avoid sounding too academic (and has an ear for pulled-from-TMZ.com phrases like "insecure, praise-starved flattery-sluts"), his broad, rambling...
Massachusetts legislators and Smith economics professor James Miller have advocated for taxes on large universities. The current proposal calls for a 2.5- percent tax on university assets valued at over $1 billion. If the state of Washington taxes Microsoft, they argue, why should Massachusetts not tax Harvard? The answer is that we do not want Harvard to act exactly like a business, so we should not treat it like one. We expect Harvard to think of Cambridge and Allston residents and Harvard workers even in times of stress, and the tax breaks are to help Harvard meet those expectations...