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Fidelity Investments remains the 800-pound gorilla of the mutual fund world, with $1.1 trillion of assets under management. But fund companies like Vanguard and American Funds are growing faster, which is why Fidelity this week intensified its makeover by replacing the manager of its most visible fund, the $52 billion colossus Magellan. Market-lagging Robert Stansky, who had headed the fund since 1996, has been replaced by Harry Lange, former manager of the Fidelity Capital Appreciation Fund...
...estimates the increased discount on generics would save another $300 million, but outside experts such as Stephen Schondelmeyer, a professor of pharmaceutical economics at the University of Minnesota, predicts it'll end up being "one of those penny wise, pound foolish decisions." That's because generic drug companies, which have far smaller profit margins than the brand-name firms, warn that the increased discount would squeeze them out of the Medicaid market, leaving the brand-name manufacturers-which can more easily absorb a rebate increase-to cash in when the federal program has to buy the higher priced drugs from...
Spreading a message of peace from Israel, popular band The Fools of Prophecy rocked Harvard Law School’s Pound Hall in a concert on Wednesday night. To host the show, Harvard Students for Israel (HSI) collaborated with Israel at Heart—an organization that travels throughout North and South America and Europe to promote the well-being of Israel. The show, the first of 11 on the band’s North American campus tour, marked HSI’s first “cultural event” of the year, according to Amy M. Zelcer...
...Imperial system, or—as I’m told Bush calls it in private—“the freedom system.” Surely no one would disagree that America’s domineering and swaggering use of the inch and the pound is closely linked to our nation’s going to war in Iraq. Let’s not forget that, if we switched to metric, gasoline would go from costing (on average) $2.73 per gallon to $0.72 per liter—we all know that wouldn’t please Cheney?...
...Photo storage for all our members (absolutely free!),” read the e-mail advertisement received by many Harvard students during the first week of October. But Hussain acknowledged that XuQa faces an uphill battle. “There is no doubt they are the 800 pound giant and we’re the little ant,” he wrote. —Staff writer Sam Teller can be reached at steller@fas.harvard.edu...