Word: sumness
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Dates: during 2000-2009
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...futures market is a zero-sum game. When you trade oil futures, all you're really doing is exchanging cash with other traders. You're all betting with each other on the price of oil ... except it turns out that your bets, in turn, determine the price. It's a bit of a catch-22, but that's the market...
...unemployment among young, first-time job-seekers. "Long-term unemployment is debilitating for people trying to find jobs in the first place," says Professor James K. Galbraith of the University of Texas at Austin. The more long term unemployed there are already competing for jobs with long résumés, the harder it is for first timers with no work experience to get the job, thereby tossing them into the pool and sustaining the high rate. (See "Great Depression 2.0: Tracing the Meltdown...
...Nesson, known for advancing unusual legal arguments, said that the damages awarded would bankrupt Tenenbaum, and that his client would ask Judge Nancy Gertner to reduce the sum to a more "reasonable" level. In the only previous such case to go to trial, Capitol v. Thomas, the plaintiffs were awarded $9,250 per song, an amount raised to $80,000 per song in the re-trial for a total of $1.92 million...
According to the Financial Times Deutschland, Wiedeking was entitled to compensation of $200 million or more. But labor representatives on Porsche's supervisory board's protested at such a huge handout and Wiedeking himself suggested a more modest sum. Before the ink had dried on the check, Wiedeking announced he would donate half the money to a Porsche-sponsored charity. Not without a sense of humor, he also pledged to donate $2.3 million to assist "needy journalists". The German taxman will likely get a big chunk of what is left. "For the first time an executive has responded...
...gestures of charity, though, Germans have already begun grumbling about the huge payout he received. Dietmar Barsch, general manager of the leftist party Die Linke, calculated that even compensation of $35 million was equivalent to 250 Porsche 911 Targa 4 models. "This is not about social envy. The sum is absurdly high and has no relationship to any work he performed," Barsch said...