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...over the world, hedgies like Tse are taking it on the chin, victims of the global financial crisis and the one-two punch of poor returns and unhappy investors. After nearly doubling in size since 2002, to around 8,000 total funds last year, the industry is on the brink of a brutal contraction as customers - rich investors, university endowments and pensions funds that make up the bulk of hedge funds' clientele - rush to withdraw their investments. Some analysts predict that a quarter of all hedge funds could fold by the end of the year. Stephen Brown, an economist...

Author: /time Magazine | Title: Pruning Season | 11/13/2008 | See Source »

...only has Mbeki failed as an objective mediator, but he also provides a poor example of leadership himself. The Harvard School of Public Health recently found that Mbeki’s decision to reject HIV drugs as unsafe nine years ago cost 330,000 lives. And, in 2001, he made wild accusations against three leaders of his own political party—who were later defended by Nelson Mandela—that they were plotting his ouster. A man with such partiality and dangerously fickle leadership could never be a legitimate mediator...

Author: By Alexander R. Konrad | Title: Optimism’s Test | 11/12/2008 | See Source »

...Navy had taken delivery of the vessel from its builder, Northrop Grumman, in 2006. The service said it needed the new ship to replace an older one it was retiring and could finish the work more cheaply in its own shipyard. The Navy has blamed Northrop Grumman for poor work; the company has blamed the Navy for a constantly changing design, as well as Hurricane Katrina, which hit the Gulf yards in which the ship was built...

Author: /time Magazine | Title: The Navy's Floating Fiasco | 11/12/2008 | See Source »

...past eight years. For black Americans, it means a departure from the death and destruction and ignorance of the past several hundred years. We are not as culturally and economically unified a group as non-blacks would like to believe: Some of us are rich and others are poor, some of us are of mixed race, some of us come from other countries, some of us live in the rural South while others live in the urban North. The thing that has really united us is a sense of being shut out from certain opportunities. No matter where we lived...

Author: By Marina S. Magloire | Title: Not Just Black and White | 11/11/2008 | See Source »

...these developments pain the family of Michelle Moore-Bosko. For their part, they do not believe the men invented their involvement under duress. For the family, every new press release about the Norfolk Four reopens old wounds. "Let my poor baby rest," her father, John Moore, told the Washington Post on Monday...

Author: /time Magazine | Title: The Disturbing Case of the Norfolk Four | 11/11/2008 | See Source »

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