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Right Man, Right Time By one of those strange Sully Sullenberger collisions of preparation and crisis - the sort that put Depression expert Ben Bernanke in at the Fed at the moment of a flameout of 1930s magnitude - Larry Summers made his reputation as an employment theorist. Summers is the nephew of two Nobel economists and was regarded as the smartest undergrad anyone knew, but as he surveyed his research options 30 years ago, he settled on the then relatively unsexy specialty of labor. The subject tickled his sense of skepticism. "The view that was taking hold at that time...
...word that you (and the rest of us) should hope we don't hear too much of in the coming months. It comes from the Greek husteros, which means late. It refers to what happens when something snaps in such a way that it can never be put back together. Bend a plastic ruler too far, drop that lightbulb - that cracking sound you hear is the marker of hysteresis. There's no way to restore what has just been smashed. (See the top 10 bankruptcies...
...Hershey doesn't step up, "its growth ability will be dramatically impaired," says an observer, adding that it has "an ability now to put gum and chocolate together in the U.S. and be a real competitior to Mars-Wrigley...
...could potentially pump about 2.3 million bbl. a day by year's end. "They argue that they are a war-torn country, like Iraq, and need to rebuild the country," Morse says. "OPEC swept the problem under the table, because, after all, why deal with it when you can put it off?" (See pictures of world leaders on vacation...
Traditionally, the VIX has been described as a "fear index": the higher the index, the greater the pessimism as investors fear market instability. Technically, it is a barometer of implied volatility over the next month, specifically calculated from options prices over the S&P 500's underlying stocks. Bearish put options, the right to sell a stock at a specified price in the future, generally dominate a high...