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Wise old men and their young colleagues gave the world all the entertainment it needed this weekend. While 59-year-old, self-proclaimed "geezer" golfer Tom Watson mounted a heroic effort to win the British Open, only to fall short in a four-hole playoff against a much younger rival, that great gray sorcerer Albus Dumbledore led Harry Potter to the biggest opening for any film in the series. Harry Potter and the Half-Blood Prince will have taken in nearly $80 million in its Friday-to-Sunday session and about twice that in its first five days. That...
...policy and administration at George Washington University, figures that in normal times, budget projections a couple of years out tend to be pretty reliable, at five years less so and at 10 years not much at all. "But these aren't normal times," he says. "In recessions, even the short-term numbers aren't very good, because a lot of the factors that go into them are based on assumptions that the economy will behave within some narrow band of reality, and the way it behaves is outside of that band." (Read "Advice from an Economist...
...laws to regulate the industry will be written on Capitol Hill. Officials have also begun to worry aloud whether the Wall Street firms learned anything from the catastrophic financial crisis that was largely of their making or whether they are now returning to the old business of making short-term profits that create long-term risks...
Tell me a little bit about your HBO show coming out in September. It takes the basic premise of the short story, which is about a writer named Jonathan Ames who puts an ad on Craigslist and becomes a private detective. It stars Jason Schwartzman playing Jonathan Ames. I mean, he's not playing me, just a character with my name. And Ted Danson plays an older friend, a mentor in the publishing business. Jonathan does freelance work...
...Indeed, analysts who follow a number of different industries rushed out reports about how CIT would affect the companies they watch. The biggest areas of concern were for the insurers that hold a large amount of CIT debt and retailers, which rely heavily on the type of short-term lending that CIT provides. The consensus was that CIT's failure alone was not likely to bring down any other firm...