Word: profiteering
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...contradiction: an excelling company being reviled in a country that embraces the profit motive. And without question, Goldman Sachs under Blankfein has recalibrated, in very large numbers, its place as Wall Street's most astute, most opaque and most influential firm. In the first and second quarters of 2009, the company earned $5.3 billion in net income, the most profitable six-month stretch in Goldman's history. Goldman's stock has more than tripled since its low last November, to more than $160 per share...
Students returning to the Harvard Kennedy School are raising concerns about a reduction in student social space, after the Hauser Center for Non-Profit Organizations moved this summer into an area once designated as a student commons...
...teen chain; and Ruehl, a 29-store chain for young adults that Abercrombie shut down in June. Abercrombie & Fitch lost $26.7 million, which includes $24.4 million in charges associated with the closing of Ruehl, in the second quarter. During the same period in 2008, Abercrombie scored a $77.8 million profit. "Abercrombie has mismanaged this economic downturn more than any other retailer," says Britt Beemer, CEO of America's Research Group, a retail consulting firm. (See TIME's photos of stores that are no more...
...land swap agreement with the University, filed in February of 2008. The first redevelopment design proposed 12 taller buildings spread across 6.91 acres of Harvard-owned property about a half-mile away on Western Avenue at the Brighton Mills shopping center. The new plans -- proposed in July by non-profit developers Charlesview Inc. and The Community Builders -- would instead have more than double that number of low-rise buildings on 8.65 acres that include the additional land from Harvard...
...NYSE in the 1980s and '90s, brought more direct competition. Now things have broken wide open. Nasdaq and the NYSE are still the biggest players, but they must do daily battle with upstarts such as BATS and Direct Edge. Both exchanges have also gone from member cooperatives to for-profit companies - the NYSE by merging with electronic competitor Archipelago...