Word: owings
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...first cohort of modernists. His grip on the imagination continues well into the present. As proof, there's "Cézanne and Beyond," an ingenious new exhibition at the Philadelphia Museum of Art that combines a choice selection of Cézannes with the work of 18 artists whose practices owe something to his. Organized by Joseph Rishel, the museum's chief curator of European painting before 1900, and adjunct curator Katherine Sachs, the show is dedicated to Rishel's late wife Anne d'Harnoncourt. For years the Philadelphia Museum's smart and spirited director, d'Harnoncourt died, much too soon, last...
Then there's a third group, stretching across all classes, and they have very real piles of money. They range from hedge fund people who have stored it away, to trust fund babies, to a generation of Americans that have paid off their mortgages, and don't owe anybody any money. This group has learned that conspicuous consumption is bad manners. Also, there's an entangling of consumption and morality. I just heard a story about somebody saying, 'I can afford a new car, but I'm not going to get one, because I just had to lay a bunch...
...says Jadlos. That's partly because dropping property values have driven homes, on average, down to what they cost four years ago. Add in all those home equity loans people used to free up cash, and you're left with a situation where more than 18% of homeowners now owe more than their house is worth, according to First American CoreLogic. When the crappy economy causes your household income to take a hit, good luck trying to refinance or sell...
...aiding and abetting copyright infringement on a massive scale. The most serious charge - complicity in the production of copyrighted material - was dropped earlier this week for lack of evidence, but the trio still could walk the plank, should prosecutors prevail. If they lose the criminal case, they could owe nearly $10 million sought in the civil action being heard simultaneously in the Stockholm courtroom...
...Wells Fargo Loan losses: When Wells Fargo acquired Wachovia late last year, it more than doubled its loan book. In good times, that would be a major coup. These days, it's major trouble. Home buyers owe the bank $360 billion, up from about $150 billion just three months ago. Next, Wells has $154 billion in commercial real estate loans, as well as $200 billion in other types of commercial debt. Apply Roubini's overall 13% loss projection, and the conclusion is that Wells may be sitting on a $117 billion loss...