Word: profiteer
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...argued, of course, that life- and disability-insurance companies have everything to gain from customers who live long and healthy lives - and continue to pay their premiums. So it would not be in the insurers' interest to support tobacco use. But the authors argue that in fact, insurers profit both ways. "Although investing in tobacco while selling life or health insurance may seem self-defeating," the authors write, "insurance firms have figured out ways to profit from both. Insurers exclude smokers or, more commonly, charge them higher premiums. Insurers profit - and smokers lose - twice over...
Last year China Construction Bank's net profit soared 10% to $11.9 billion. In the same period, Bank of America, which at the time owned some 19% of the Chinese lender, earned just $4 billion, down 73% from 2007. That's all you need to know to understand why Bank of America in May sold a 5.8% stake in China Construction Bank for $7.3 billion. Bank of America has been so badly hurt by the U.S. financial crisis that it needs to raise billions of dollars to recapitalize. Meanwhile, Chinese banks are making money hand over fist as China...
...financial institutions went into the current Great Recession with robust balance sheets that they can now leverage up by acquiring the assets that Western banks are shedding. China's banks are in a particularly sweet spot. Grown fat on years of sizzling GDP growth, Bank of China (2008 profit: $9.7 billion) has a leverage ratio of only...
...administrators note, HMS—unlike many other medical schools—does not own or operate its affiliated hospitals. The hospitals are independent, non-profit entities, each under its own public charter and governed by its own board of trustees...
...models? Absolutely,” he says. “But is that a general proposition? Not so clear.”In some situations, senior management may have failed to understand the models or may have ignored their implications—such as when they advise reducing profit to control risk, even when other companies are pressing forward.While backward-looking VaR models relied entirely on data from past years, forward-looking VaR models were able to pick up on the increased volatility of the market before securities prices took a nosedive, says Aaron C. Brown...