Word: falling
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...Still, Hoffman is confident the industry can thrive - and he's put money on it. This fall, he plans to open a luxury tea shop in California that will be a gathering place for American aficionados and a showcase for his fine, aged Puers. "There is a lot of hype and marketing, but that doesn't interest me," he says. "I am only interested in taste." People have offered to buy his collection, but he's dismissed them in turn. He wouldn't trade it now, he says, not for all the tea in China...
...claim on a certain amount of society's resources and esteem. As men lose that claim, they lose the instruments by which they have traditionally controlled society. A lot of people see that as fitting punishment. There weren't any women among the high-profile malefactors in last fall's financial meltdown. Maleness has become a synonym for insufficient attentiveness to risk. Journalists have lately been having a field day with a study by two Cambridge University professors, J.M. Coates and J. Herbert, who sampled the testosterone levels of London traders and found they positively correlated with high-profit trading...
...fall 2007, I found myself on the 19th floor of the Manhattan skyscraper known as the Lipstick Building, listening to Bernie Madoff explain to me how he made money. This was in preparation for a discussion called the Future of the Stock Market that I was moderating; Madoff was a participant. (It's a big hit on YouTube - just Google "Madoff video.") Sadly, he didn't happen to mention the now infamous Ponzi scheme he was running two floors below us. At issue was his legit business, a brokerage that had long been one of the biggest marketmakers (the firms...
...fear may be justified, the loathing less so. Stock-trading in the U.S. was long dominated by a cartel (the NYSE) that charged exorbitant fees and stifled competition. That cozy arrangement began to fall apart in the early 1970s with the birth of the Nasdaq electronic exchange for small stocks. The rapid growth of Nasdaq companies like Intel and Microsoft, coupled with Madoff's poaching of orders from the NYSE in the 1980s and '90s, brought more direct competition. Now things have broken wide open. Nasdaq and the NYSE are still the biggest players, but they must do daily battle...
Formal: 1. What you called a prom in high school. 2. House dances you’ll be attending in the spring (or the fall, if you get asked by that cute sophomore in section!) 3. Also known collectively as “The Balls...