Word: rosee
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There's still a lot to cheer about. The Board of Economists' direst predictions last year--that the dollar would tank, long-term interest rates would rise sharply and the housing bubble would pop--didn't come to pass. Indeed, the dollar rose in value, and the yield on 10-year bonds barely budged, despite a series of interest-rate hikes by the Federal Reserve that were followed at year-end by a rate hike by the European Central Bank. Most significant, there's still no strong evidence of a resurgence of inflation, even though oil prices have more than...
Japan seems more resilient too, under the leadership of Prime Minister Junichiro Koizumi. He has been pushing to cut the nation's red tape and deregulate the economy. December figures suggested that the reforms are helping to restore confidence: exports rose 17.5% while imports surged 27%, reflecting healthy domestic demand as well as higher oil prices. Overall, the Japanese economy grew 2.6% in 2005, and despite a huge budget deficit and heavy debt, most forecasters expect it to grow at least 2.2% this year...
...Music. EMI was then a listing ship that had jettisoned more than 40% of its market value in one year, and had just issued an entirely unexpected warning, admitting that profits would slide 20%. One of Levy's first hires was a McKinsey & Co. consultant, John Rose, in January 2002, whose remit was to figure out how to make digital pay. "He knew digital wasn't going to go away," Rose recalls. "That was a large part of his hiring me." But Levy's decision to embrace digital bucked industry notions. "The prevailing feeling was, 'This isn't going...
...plans to sell digital music and combat piracy, but was forced to shelve them just to focus on its core operations. "The company was in such a bad spot in terms of both earnings and capital structure, frankly, we didn't have time to think of anything else," says Rose. Levy's team discovered that the Virgin label wasn't integrated into the business, so essentially two separate music companies were operating within EMI. Record sales were clearly not recovering, either. Indeed, after her Glitter album tanked, EMI had to pay Mariah Carey $28 million to extricate itself from...
...economics concentrator in Eliot House, Vikram Viswanathan ’06 sold contracts yesterday for $3.80, $5.50, and $7.50. When the price of a contract rose to $8.50 around 9:30 p.m, he wrote in an e-mail, “I’m getting wrecked...