Word: richest
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...tiny nation of just 320,000 people. But last fall's abrupt economic collapse forced Iceland to rethink its traditional skepticism about the E.U. In the space of just days, as huge debts tore at Iceland's banking system, the country went from being one of the world's richest nations per head to virtually a failed economy. The statistics tell a stunning story: Iceland's currency, the krona, shed nearly half its value; inflation rose to over 12%; the stock exchange fell 89%; a $10 billion IMF bailout was sought; half the country's businesses became technically insolvent...
...Home-team affection notwithstanding, it's not clear whether the Sharks will be a good investment for China's richest sports star. After Yao departed for the U.S. in 2002, the Sharks went from national champions to perennial league basement dwellers. At the same time, the Chinese Basketball Association (CBA) has languished, in part because young Chinese players would prefer to watch the high-octane antics of the NBA rather than the second-rate efforts of their national league, where poor coaching and antiquated playbooks have stunted the game. It doesn't help, either, that China's best players, like...
...patient's life before treating a hospital board member. He takes a job as a "concierge doctor" to rich summer people in New York's Hamptons, treating everything from hemophilia to deflated breast implants. It's fluff, but with a theme of modern medical feudalism: top docs attending the richest like courtiers. If your hospital waiting room has cable, watch it sometime...
...producing high levels of carbon emissions (above 10 metric tons of CO2 a year). The researchers then compiled those numbers to get a global estimate of how carbon emissions are distributed individually; unsurprisingly, about half of the world's emissions in 2008 came from the planet's 700 million richest people. (See the top 10 green stories...
...Although the media has scrutinized the layoffs and Harvard's financial planning in recent weeks, emphasizing that even the world's richest university is being forced to slash budgets, the staff cuts are not unprecedented. In 2004, while the endowment was growing, Harvard laid off over 200 employees, citing the need to eliminate multi-million dollar "systemic" budget deficits wrought by capital expansions and a slumping national economy...