Word: summers
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IndyMac will soon earn the first half of its name back. The Federal Government, which seized the failed bank last summer, is expected to close a deal in the next week that would return the California mortgage lender to private ownership. For IndyMac, the deal means independence in less than eight months. For the government, the IndyMac sale provides a shining example of how takeovers can work, at a time when the Obama Administration may soon begin pushing for more nationalizations. (See 25 people to blame for the financial crisis...
...economy have slashed production, unemployment is on the rise - according to the Kiev International Institute of Sociology (KIIS), over 10% of Ukrainians have lost their jobs since the start of the crisis - and the hryvnia has plummeted, shedding over a third of its value against the dollar since last summer...
...issue exploded this week, when the New York Times published a pair of stories tracking Harvard's industry ties. The school might have turned a whole new shade of crimson when its flunking grade from AMSA was made public last summer, but things got even uglier in November when 40 med students rallied on campus to demand that industry and academia make a clean break. The facts, they argued, justify their outrage. Of Harvard's 8,900 professors and lecturers, 1,600 admit that either they or a family member have had some kind of business link to drug companies...
...between industry and research is long-standing. Major medical journals require any doctors publishing work in their pages to disclose board memberships or other moneymaking arrangements they have with drug companies. Last summer, the Pharmaceutical Research and Manufacturers Association prohibited salespeople from treating doctors to meals and golf excursions and even banned the ubiquitous company-branded pens, mugs and notepads that clutter waiting rooms and reception desks. Just this week, federal officials revealed a newly aggressive plan to begin pursuing civil and criminal charges against doctors who accept kickbacks or demand speaking or consulting fees for prescribing drugs or medical...
...leading crusader against earmarks, who railed against Obama's acceptance of the spending bill on the Senate floor this week, made exceptions during his presidential campaign for earmarks for Israel and military housing, as well as a ferry service for an impoverished Alabama town he visited over the summer...