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Rich Like Them: My Door-To-Door Search for the Secrets of Wealth in America's Richest NeighborhoodsRyan D'AgostinoLittle, Brown; 256 pages...
That makes what's happening in Orange County, Calif., all the more important. One of the richest residential areas in the country, the Los Angeles suburb is known for swimming pools, golf courses and lush lawns - all of which need water. But like much of Southern California, Orange County is dry and getting drier, and the aquifer from which the county pumps much of its water is slowly draining. Importing water from wetter Northern California is an option, but an expensive one (at least $530 per acre-foot, or about 326,000 gal., of water). Meanwhile, population growth means that...
...crisis starts to bite, the Kremlin is reacting by increasing its control over broad swathes of the economy. Through the state-controlled banks, it is bailing out selected business executives who are having trouble paying their debts - including Oleg Deripaska, a metals tycoon who until recently was Russia's richest man. It is also playing an increasingly intrusive role in the private sector. At a meeting in Moscow on Nov. 25, for example, Igor Shuvalov, Putin's First Deputy Prime Minister, told the nation's major retailers that the Kremlin would ensure they gained access to credit on condition that...
...after all. MIT is slashing 10 to 15 percent of its spending. At Harvard, President Drew G. Faust wrote a letter.Her gist was simple: Harvard is not immune. Thanks to economic reality, colleges across the country have had to make painful financial decisions, and the world’s richest university has a proportional amount to lose. Yesterday, the administration announced a 22-percent decline in Harvard’s $36.9 billion endowment over the last four months—the sharpest drop in history. Worse yet, Faust predicted continued gloom for the endowment, with a forecasted 30-percent drop...
...founder was never charged. His recent troubles make him the latest high-profile tycoon to run afoul of authorities. The ranks of recent years' rich lists read like a police blotter. In 2003 Yang Bin, an agribusiness and real estate tycoon once named the mainland's second-richest man, was convicted of tax evasion and sentenced to 18 years in prison. Gu Chujun, once head of a leading appliance company, was ranked China's 20th richest businessperson by Forbes in 2001. In January, he was convicted of falsifying corporate reports and sentenced to a 12-year prison term. And Zhou...