Word: worthely
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Patrick Ricard, boss of the french drinks giant that bears his name, enjoys a glass of pastis before lunch. But at a recent breakfast in his private dining room overlooking the Eiffel Tower, he was strictly a coffee man, despite having just pulled off a deal worth celebrating with something stronger. In March, Pernod Ricard stunned its rivals by landing one of the biggest prizes in the drinks sector: Absolut, the world's leading premium vodka, whose acquisition, Ricard concedes, was "a bit of a coup...
...case, banks and bond-rating agencies and bond insurers that are supposed to backstop you--fail in their duty and leave you, well, dogless, it's a good time to take a good look at what you own. In this sense, says Guy Cumbie, a financial planner in Fort Worth, Texas, "anything that stress-tests your portfolio and gets you to pay attention to the level of risk you are taking is a good thing...
...income from munis is tax exempt. That anomaly occurred earlier this year, and even though some order has been restored, muni yields remain historically high. "These aren't as safe as cash," says Mark Soehn, managing director at Financial Solutions Advisory Group in Chicago. "But the risk is well worth it." He recently put his clients into the BlackRock International Municipal closed-end fund, which was trading at an unusually large 12% discount to the assets in the fund and yielding 5.7%. The after-tax equivalent of that yield for someone in the 30% tax bracket: 8.2%. Steep discounts...
YouTube is what first made this question worth asking, and unless there's a cable channel out there that I don't know about, it's still the world's premier venue for Asian teenagers playing video-game theme songs on two electric guitars at the same time. But since it launched in December 2005, YouTube has been largely stripped of the kind of longer-format, commercially produced content that could get you through a solitary evening at home, as opposed to a furtive interlude between spreadsheets. It's becoming what it was always meant to be: a vast galaxy...
...ignoring the world from the Rio Grande to Tierra del Fuego is ridiculous. The U.S. exports $225 billion worth of goods each year to Latin America--more than quadruple what it sells to China. The old journalists' joke that Americans will do anything for Latin America but read about it now sounds more foolish than funny...