Word: royalities
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...results as a book called Common Stocks as Long Term Investments. It was a sensation. Smith--a businessman of no great distinction up to that point--launched a mutual-fund company on the strength of his sudden fame and got an invite from John Maynard Keynes to join the Royal Economic Society. His argument was that stocks would continue to beat bonds because they a) were less vulnerable to having their value eaten away by inflation and b) allowed investors to share in the growth of the U.S. economy in a way that bonds and other assets did not. These...
...again in the mood to shop. The benevolence of billionaires helps. London club Chelsea, bankrolled by Russian oligarch Roman Abramovich, reportedly bid $74 million on June 9 for Atletico Madrid striker Sergio Aguero. Manchester City, owned by Sheik Mansour bin Zayed al-Nahyan, a member of Abu Dhabi's royal family, is also keen to strengthen its squad. (See pictures of soccer's European championships...
...free consulting service for arts groups on the verge of a nervous breakdown. Kaiser is something of a rescue artist. Over the years, he has swooped in as a director to save the Alvin Ailey American Dance Theater in New York City, the Kansas City Ballet and London's Royal Opera House, which had just canceled every performance for the next year and a half when he got there in 1988. In February the Kennedy Center launched a website--artsincrisis.org--where beleaguered administrators could go for advice on fundraising, programming, budgeting and marketing. Kaiser and his staff sometimes pay house...
...toll is expected to increase as rescue workers gain access to more isolated areas. Low-lying Bangladesh is regularly gutted by cyclones in the spring and fall, which precede and follow its monsoon season. Aila also hit Sundarbans, a mangrove forest on the India-Bangladesh border that shelters endangered royal Bengal tigers--some of which have also been stranded by the waters...
...ICBC) paid $5.6 billion in 2007 for 20% of Standard Bank, South Africa's largest lender, in part to serve Chinese-owned resources companies prospecting for oil, gold, copper and other metals in places like Angola, Congo, Liberia and Zambia. ICBC is now said to be interested in the Royal Bank of Scotland's Asian assets, along with Australia's ANZ Bank and Anglo-Asian lenders HSBC and Standard Chartered Bank...