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...current issue of Science, they have nearly doubled their rate of flow over the past five years, to about 8 miles a year, dumping icebergs and meltwater into the already rising ocean faster than anyone expected. "In 1996 Greenland was losing about 100 cu km of ice per year," says Eric Rignot of NASA's Jet Propulsion Laboratory, lead author of the study, which he presented at last week's meeting of the American Association for the Advancement of Science in St. Louis, Mo. "This year it will lose more than twice as much." By comparison, he says...
...says Michael Oppenheimer, a professor of geosciences and international affairs at Princeton. Under conventional global-warming scenarios, that will eventually happen--but over a period of several thousand years. The new study suggests that it could happen in a few hundred years. "That's a few feet per century," says Oppenheimer, "which may not sound like a lot, but it's more than society can handle. In places like the Eastern seaboard of the U.S., a 1-ft. vertical rise in sea level means a 100-ft. retreat of shoreline." In low-lying countries like Bangladesh, the resulting flooding could...
Lurking in the background, however, are the usual suspects, threats as familiar and ominous as the Three Bears. The worldwide supply of oil can barely keep pace with the huge surge in demand that has been driving up prices to more than $60 per bbl.--which puts supply at the mercy of politically fickle energy producers like Russia and Iran. "We will have some shocks because supply is so tight," warned Zhu Min, executive assistant president of the Bank of China. He also expects a surge in volatility in financial markets this year and, like the other panelists, worries about...
...stealing music is as bad as any other form of stealing." But the big breakthrough came from Apple, which finally convinced millions of consumers to pay for downloadable music. Apple's iTunes online music store - launched in 2003 - was easy to navigate and used a simple pricing structure: 99? per song; around $10 per album. ITunes downloads have now hit 850 million. "I will be eternally grateful for what Apple and the iPod have done," Kennedy admits. There are now 350 legal music sites online, up from 50 two years ago. Levy predicts that 25% of industry revenues will come...
Furthermore, the statement that Harvard pays its managers “approximately under 10 percent” of the market value for their services is patently absurd. Even with today’s enormous salaries for investment management, very, very few investors manage to earn more than $18 million per year. The idea that an in-house manager of a $2 billion bond fund would be paid at least $180 million annually for even exceptional returns is totally out of proportion to the reality of Wall Street compensation. Even $18 million would be an exceptionally high rate of compensation...