Word: profiteer
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Every year hedge funds do have to liquidate part of their profits in order to pay their managers, traders and other support staff. Fund managers typically keep 20% of (unrealized) trading profits. But first they must realize that 20% by selling the liquid assets. If a fund is overestimating the value of the illiquid assets, then its manager's profit is grossly overestimated. In most cases, the profit is at least slightly overestimated because of slippage in the liquid assets. In other words, if a fund liquidated all profits, the supposed 20% taken out first would actually be larger than...
...Freecycle encourages people to give away unwanted items rather than toss them in the dumpster. The group was founded in Arizona in 2003 by Deron Beal, an employee with a local recycling non-profit who had committed his life to eliminating unnecessary waste. The first incarnation of this online community involved only about 30 people - and Beal's desire to give away a used bed. But that initial gang of recyclers are now joined by more than 4,600 local Freecycle groups spread out across 85 countries. A University of Iowa study analyzed the average number and weight of items...
...steep slide in the price of oil in recent weeks. American carriers have also reacted quicker than European rivals when it comes to cutting back on capacity. So while U.S. airlines account for most of the global industry's losses this year, IATA expects them to turn a profit in 2009. Losses in Europe are forecast to rise tenfold, to $1 billion...
...Arne has always seen education as a civil rights issue." - Phyllis Lockett, CEO of the Renaissance Schools Fund, a non-profit that works with Chicago schools, Chicago Tribune...
...game anyway? The way it was vaguely described to us was that the "New York people" had a system whereby they placed a series of instant trades - at once with futures, currencies and stocks - and out of this magic recipe fell a tiny 1% guaranteed, no-risk profit for the group. You do that 20 times a year, take away management fees and, voilà, a steady 15% return. Man, these guys were good...