Word: turmoil
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...those that survive the turmoil and layoffs still to come, the future may not look like the halcyon days of the past—heavy deleveraging threatens to cut into profits, and Congressional leaders are already clamoring to include limits on executive compensation in the proposed bailout plan in return for taking toxic mortgage-backed securities off Wall Street’s hands at premium prices...
...country needs to thrive. No, answers Marc Lhermitte, a partner at Ernst & Young, which in September published a survey of the attractiveness of leading cities. Moscow scored high on the list; Chinese investors ranked the Russian capital just behind Paris, for example. Despite all the recent economic and geopolitical turmoil, Russia is becoming "a significant destination" for international companies, Lhermitte says. The crisis doesn't seem to have made too much of an impression on Russia's superrich, either. When Larry Gagosian of the New York Gagosian Gallery opened a modern-art exhibition including works by Picasso and Warhol...
...England Brown Faces Down Critics Prime Minister Gordon Brown scored a reprieve from those within his party pushing for his ouster. In a heralded speech at Labour's annual meeting in Manchester on Sept. 23, Brown said the country's current financial turmoil--echoing credit-crisis woes in the U.S.--meant this was "no time for a novice." He went on to refer to Labour as a "rock of stability...
...business of Charlotte was always business. The city began as a trading post at the intersection of two Indian trails, hosted America's first gold rush and first mint, and later blossomed into a transportation and textile hub. Charlotte's white leaders agreed to desegregation relatively early, concluding that turmoil was bad for business. And local banks exploited North Carolina's liberal acquisition laws to build the conglomerates that now dominate headlines. Today Charlotte's nine FORTUNE 500 companies help run the city, not only by writing checks--Bank of America and Wachovia have pledged $15 million apiece to build...
...year of historic market turmoil, many of the nation’s wealthiest universities beat the trend of negative returns—with Harvard leading the pack. Though Harvard’s 8.6 percent return on its investments through June 30 was down significantly from previous years, it led a slew of universities with large endowments that managed to stay ahead of downward spiraling market prices. Yale announced late last week that its endowment rose 4.5 percent during the 2008 fiscal year—ending the year with $22.9 billion—and Stanford announced a 6.2 percent growth...