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...banks in the world, only three are American: Citicorp, Chase Manhattan and BankAmerica. "U.S. banks are pygmies in a world of giants," says Lowell Bryan, a banking analyst at the consulting firm of McKinsey & Co. in New York City. "Although we have the largest financial economy, we have the smallest banks...
...support of a University-wide fund drive, a move away from Harvard's tradition of "every tub on its own bottom," is implicitly explained by his description of how graduate programs that make the greatest contributions to society--such as schools of education--often receive the smallest contributions from alumni...
Statistics released last week show the U.S. trade picture brightening considerably. The current-account deficit, the trade figure that is most closely watched because it measures transactions in services as well as goods, shrank 14% during the first three months of the year, to $22.9 billion, the smallest quarterly gap in six years. In a separate report, the merchandise trade deficit in April fell 17%, to $6.9 billion, its second best showing in six years. At this pace, the gap for the year as a whole could fall below $100 million for the first time since...
Pretty heady stuff for someone who in his New Haven, Conn., school was always the smallest, least noticed kid in the class. "I was a lousy athlete, not coordinated and socially pretty shy," MacCready says. To compensate, he turned to solitary hobbies, largely involving flying creatures and flight. He collected butterflies and moths, began assembling model airplanes from kits and soon was designing his own autogyros, helicopters and ornithopters. At 15, he was already winning national model-airplane contests. "At the time I wished that I could be a football hero and a smooth character," he says...
...price, both financial and physical, can be devastating. In one study of care for the smallest preemies at Stanford University Hospital, the average cost was about $160,000. Nationally $2.6 billion is spent on neonatal intensive care each year, according to a recent report published in the American Journal of Diseases of Children. Despite the extraordinary measures taken, half the survivors face a lifetime of disabilities. Now ethicists are asking if it is time to consider limiting treatment to conserve health-care dollars and reduce suffering. Says Stanford ethicist Ernle Young, one of the A.J.D.C. authors: "To do cost-ineffective...