Word: writes
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Dates: during 2000-2009
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...Bush will have a writing companion in his wife, Laura, who in January signed a multimillion-dollar contract to write her own memoir. But they'll have to pedal hard to catch up with the literary achievements of the current occupant of 1600 Pennsylvania Avenue. Thursday also brought news of Barack Obama's 2008 book earnings - with the same publisher, Crown. The President picked up $2.5 million in royalties last year for his memoir Dreams from My Father (139 weeks and counting on the New York Times paperback nonfiction list) and The Audacity of Hope (64 weeks on the same...
...Black is reinforcing what the smart money already thinks about the big money center banks. Their CEOs are talking about profits and paying back TARP money the same way that they were calling an end to banking write-offs a year ago. Former Lehman CEO Fuld said last April that the worst of the writedowns was probably over and Morgan Stanley (MS) chief John Mack said that the financial crisis was in the "eighth inning or top of the ninth." (See pictures of baseball...
...Bank stock bulls rest much of their case on the fact the write-offs at financial firms are slowing and the Fed is putting enough money into the credit system to restart the normal cycle of borrowing and lending. That may well be true. Those pushing bank stocks as a great investment would also say that, even though a stock like Citigroup (C) has had a great run, it is down 90% from its 52-week high. That makes it a bargain...
...There is a reason that Citigroup is down 90% this year and down 95% from its all-time high. The experts who really know the banking industry believe that there are still hundreds of billions of dollars or write-offs walking around the financial system waiting for big banks to run into them...
...proactive element to prizes? I have to say that, as unpopular as the Swedish Academy is these days, the Nobel Prize Committee has got it right in this respect: no posthumous prizes. They dole out their dough only to writers who will use the money to continue to write; they bestow their attention only on those who can directly benefit from a greater demand for their work. To the chagrin of aficionados of Borges and John H. Updike ’54, the list of accolades and honors in their biographies will never include the words “Nobel...