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...Over the past decade, some 3,000 U.S. companies have been bought by private-equity firms. Their M.O.? Suck up companies with borrowed money, make them more efficient and then resell, turning a profit in the process. These days, nearly 1 in 10 nongovernmental employees works for a private equity-owned company, and that, says longtime industry reporter Josh Kosman, is a big problem. In his new book, The Buyout of America: How Private Equity Will Cause the Next Great Credit Crisis, Kosman argues that private-equity firms not only pillage the companies they buy, but also put the broader...
...This past weekend, the Crimson hosted its home opener and final meet of the calendar year at Blodgett Pool with the Harvard Invitational, dominating the field in a first-place finish...
...former Soviet bloc countries, the children take Junior Eurovision seriously. Very seriously. Eastern European nations have won four out of the past five competitions, which isn't particularly hard when the vast majority of the performers come from that part of the world. Steve De Coninck-De Boeck, the founder of Belgium's Junior Eurovision program, believes the show is a barometer of the east's promise. "A lot of people don't see the evolution in Eastern Europe," he says. "When you're within Junior Eurovision, you see it every year. Their self-confidence is growing. They're becoming...
...security are prone to accept even small bribes. By late 2006, after the July 2006 Mumbai train blasts and an October 2006 attack in Kashmir, security on the Indian border had become very strict. But Sabahuddin, in his statement, says that Rs. 10,000 ($222) was enough to get past the Central Reserve Police Force. "They asked me to give my address and I gave them a fake address in Kolkata," he says. "To verify me, they called my friend... [and] they got confirmed that I am an Indian and allowed me to travel." (See TIME's video "Mumbai Voices...
...Mumbai attackers are believed to have come by sea from Karachi, and over the past year, the Indian government has added new vessels to tighten up security along its long maritime border with Pakistan. But Behera estimates that getting through a checkpoint costs only about Rs. 5,000 ($111). Despite the necessary investment in new boats and training, corruption is still a vulnerability, says Pushpita Das, who is researching coastal security at the Institute for Defence Studies and Analyses. "The liability still remains...