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...what global investors call "political risk." It's something Indonesia has in spades. In June, in an apparent power struggle with its former Indonesian partner, a local unit of Canadian insurer Manulife Financial Corp. was declared bankrupt by a domestic court despite the fact that the operation was solvent and profitable. The inexplicable decision, made because Manulife didn't pay a dividend to shareholders in 1999, was later overturned, but not before the case received international publicity. Partly due to the experiences of companies like Manulife and Caltex, investment in some key sectors has effectively dried up. In mining...

Author: /time Magazine | Title: A Failed State? | 10/21/2002 | See Source »

...report, based on public documents obtained from the Securities and Exchange Commission, stated the University’s endowment management company formed a partnership with the Harken Energy Corporation in order to hide some of the liabilities of the Texas-based oil firm and keep it solvent...

Author: By Alexander J. Blenkinsopp, CRIMSON STAFF WRITER | Title: Harvard Denies Ties to Oil Firm Were Improper | 10/10/2002 | See Source »

Lead among his roster of clients was the National Rifle Association, where in 1976 he became executive director. The organization was losing millions of dollars every year in the mid-1970s, and Billings was brought on to make it financially solvent once again...

Author: By Stephen W. Stromberg, CRIMSON STAFF WRITER | Title: A Vigilante Travels the Consulting Circuit Alone | 6/3/2002 | See Source »

Because this reform diverts money from the payroll taxes that support today’s retirees, it will require funding. But it is affordable. The bipartisan President’s Commission to Strengthen Social Security developed three models for using retirement accounts to keep Social Security solvent. The cost of reform ranges from $400 billion to $1.1 trillion from now until sometime between 2028 and 2043, depending on the model. These estimates are well within the projected budget surplus for the next 10 years alone, which the Office of Management and Budget now puts at $2.4 trillion?...

Author: By Jason L. Steorts, | Title: Tom's Tax Tall Tale | 5/13/2002 | See Source »

...Apart from being publicly profiled as pedophiles, priests have a job that is harder than ever. As always, people expect their priest to deliver inspiration on Sundays and know the name of every parishioner, to show up at the hospital at 4 a.m. and to keep the church financially solvent. And let's not forget he is supposed to be the face of Jesus. But now most Catholics have only one full-time priest, instead of the three or four their parents had. And when he lets them down, he is much more likely to hear about...

Author: /time Magazine | Title: Keeping The Faith: Still Doing God's Work | 4/1/2002 | See Source »

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