Word: timbered
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Dates: during 2000-2009
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...needs of the University.” For years, Harvard has been the subject of scrutiny—and idolatry—as its endowment consistently generated double-digit yearly investment returns, largely due to its heavy exposure to alternative asset classes, which include real estate, private equity, timber, and other commodities. Such investments added long-term value to the endowment and brought sustained growth in previous years, but also reduced the portfolio’s liquidity—meaning that the University’s assets became more difficult to sell and convert to cash on short notice...
...details of the hijacking emerged, the tale got murkier, and Moscow's explanation does little to clear things up. Why, with so many other ships carrying much more valuable cargo, would the hijackers target the Arctic Sea and its small load of timber? Why didn't the ship send out a distress signal? Why did Israeli President Shimon Peres pay a surprise visit to Russia a day after the ship was rescued? Why did Russia wait so long to send its navy to find the ship? And what did the brother of one of the alleged hijackers, Dmitri Bartenev, mean...
...According to Voitenko and other experts, a secret cargo could have been hidden on the ship during the two weeks it spent in Kaliningrad for repairs, just before it picked up its Finnish haul of timber. Not contiguous with the rest of Russia, Kaliningrad is the country's westernmost enclave on the coast of the Baltic Sea, and is known as a hub for Russian smugglers. "Personally, I don't care about any missiles," Voitenko tells TIME. "I care about what they're doing with those sailors...
...Gazeta that a band of new-age pirates, possibly in connivance with the crew, is all that lies behind the Arctic Sea mystery. But he did concede that there are questions that need answering. "We don't rule out the possibility that [the ship] was carrying more than just timber," he said, without elaborating further...
China's border with Burma is a porous demarcation, with everything from tropical timber and rubies to heroin slipping across with little oversight. But August brought a more unusual Burmese import: thousands of Kokang hill-tribe members fleeing violence in their small enclave in Burma's northeastern Shan state. By late August, the U.N. estimated that some 30,000 refugees had poured across the border into China's Yunnan province, as the Burmese military routed a small rebel force that had laid down its arms for two decades before a cease-fire crumbled in early August...