Word: turning
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...consult video as they do in professional baseball, hockey, basketball and American football, as well as in international sports like cricket, rugby and tennis. Since video has vastly reduced officiating errors in these sports - just last month, the first video review in baseball World Series history was used to turn a double by the New York Yankees' Alex Rodriguez into a two-run homer - it could do so in soccer, right? (See pictures of the old Yankee Stadium...
...finance excessive risk-taking. The retail bank’s customers will not transfer their deposits to a safer institution because they know that the FDIC will compensate them in the event of a bank failure. This moral hazard encourages further mergers between retail and investment banks, which in turn begets more institutions that are “too big to fail.” When excess risk gets a conglomerate bank into trouble, the bill goes to—you guessed it—the taxpayers...
...guess the wheels of Harvard's bureaucracy turn faster than we all thought. The much anticipated Ethnic Studies secondary field was just approved by the college’s Educational Policy Committee earlier today...
...Kenya's wabenzi just got downgraded. Thanks to a government cost-cutting program aimed at saving taxpayers some $27 million, Finance Minister Uhuru Kenyatta announced this summer that government ministers, along with assistant ministers and permanent secretaries, must turn in their ubiquitous Mercedes-Benz for Volkswagen Passats, which not only cost about two-thirds the price of a new Benz in Kenya, but are, says the government, cheaper to run and maintain. (See the 50 worst cars of all time...
...Minister and Vice President are exempt - be allowed to drive a car with an engine bigger than 1,800 cc. But some officials' old Mercedes have engines smaller than 1,800 cc. Should they be exempt from the change? No, said Kenyatta. Nevertheless, a few ministers have refused to turn in their luxury wheels. "We are not schoolchildren to be given uniforms in the form of Passats," Immigration Minister Otieno Kajwang said recently. (See the best cars from the 2009 Detroit Auto Show...