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...play with at work. The economic-stimulus bill passed by Congress in February included $100 billion in new education spending. Of that total, Duncan has $5 billion in discretionary funding. That money alone makes him the most powerful Education Secretary ever. "I had very little--in the single-digit millions," says Margaret Spellings, Duncan's predecessor. "That's millions, with...
...seems to be happening in this recession. Something unpredicted by the experts. "I don't think," Summers told the Peterson Institute crowd - deviating again from his text - "that anyone fully understands this phenomenon." And that raises some worrying questions. Will creating jobs be that much slower too? Will double-digit unemployment persist even after we emerge from this recession? Has the idea of full employment rather suddenly become antiquated? Is there something fundamentally broken in the heart of our economy? And if so, how can we fix it? See which businesses are bucking the recession...
...strategies with long holding periods; [and] a lack of ready liquidity in the portfolio to meet our obligations along with the 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?...
...more than a week, much of the Angeles National Forest has been an inferno as a ferocious fire, spurred by abnormally high temperatures and single-digit humidity, ripped through steep canyons, dense brush and forest untouched by flames for 60 years. The advancing fire has cut a moonscape swath through the middle of the mountain range that forms a barrier between the greater Los Angeles area and the Mojave Desert...
...curious, the number of people who bemoan Hong Kong's independent-music scene. Critics (and expats in town for brief, superficial sojourns) adopt a default posture of digit-pointing, waving jaded index fingers at a concert calendar crammed with Cantopop and mainstream international acts. But even the most cursory probing reveals plenty of homegrown edge. Consider the Underground, a fortnightly indie-music night that takes place in venues across town, whose organizers have showcased more than 300 bands in its five years of existence. That's irrefutable evidence that if you're looking to tap into live, original music...