Word: model
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Dates: during 2000-2009
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...Didn't the folks on Wall Street, who are nothing if not smart, know that someday the music would end? Sure. But they couldn't help behaving the way they did because of Wall Street's classic business model, which works like a dream for Wall Street employees (during good times) but can be a nightmare for the customers. Here's how it goes. You bet big with someone else's money. If you win, you get a huge bonus, based on the profits. If you lose, you lose someone else's money rather than your own, and you move...
...some industry experts say the stand-alone investment-bank model is no longer working. Investment banks made buckets of money for many years by tapping capital markets and leveraging to the hilt. But with credit drying up, financing activities with deposits - like commercial banks do - appears to be a better strategy. Commercial banks like Wachovia also have fairly conservative caps on the amount of leverage they use, which affords them greater flexibility during periods of financial-system stress...
...There are, of course, defenders of the stand-alone model. On Goldman's conference call, CFO David Viniar dismissed the notion that Goldman would be better off with a deposit base, saying that because of regulatory constraints, only a "small portion" of Goldman's business could be funded that way. "We think it's not about the model. It is about the performance of the company," he said...
...websites, the National Security Agency's work to nab terrorists before they strike and, increasingly, the cutting edge of medicine. Consider a "magic carpet" that detects changes in your elderly father's weight and gait--tipping off his doctor to a potential illness. The Numerati, Baker writes, try to model "something almost hopelessly complex: human life and behavior." They're making progress...
...Halston "presentation" at the Museum of Modern Art, Time fashion editor Kate Betts introduced me to Veronica Webb, who is a former model. I knew this because a) I'd heard of Veronica Webb, and b) she was wearing a T shirt that said "iModel." I asked Webb if I was allowed to touch the models being presented. She said it was totally O.K. as long as I pretended I wanted to touch the fabric. Webb said someone told her that what a fabric feels like is more important than what your husband feels like, since you spend more time...