Word: quantum
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...SOFTWARE. Monday-morning quarterbacks wonder just what precisely AOL is now. Since its humble birth in Vienna, Va., as Quantum Computer Services in 1985, the company has focused on one thing: creating an attractive online experience for the average schmo who can barely plug in his PC. It was a smart plan whose execution has been more or less perfect. The catchy populist name. That effortless user interface. Those millions of free starter discs. Those infamous chat rooms. And, of course, that cheerful robot chirping, "You've got mail" (now the title of a romantic comedy coming soon...
...fell swoop, Harvard has increased the payout by 20 percent, a quantum leap away from an average increase of about 10 percent per year. The fiscal conservatism of the last decade seems to have been thrown out the window...
George Soros was once the candy man for financial market high rollers; now he's looking to become Dr. Weil. The Financial Times reported Tuesday that Soros will close down his Quantum Emerging Market Growth fund and merge two other hedge funds in a move designed to change the tone of his Quantum group. "This is a sign that Soros plans to play it safe until the dust settles in the world economy," says TIME senior business reporter Bernard Baumohl. "He is consolidating his fund's investments under the control of Stanley Druckenmiller, who is a more cautious money manager...
...long-term implication of Quantum's restructuring may be the dimming of the billionaire financier's aura: "Soros was viewed with awe because he appeared to have the Midas touch," says Baumohl. "Now he seems distinctly mortal...
...Sept. 2 letter to investors, Meriwether called for patience and said the fund was "seeking to raise additional capital." Among those reportedly approached was George Soros, head of the $10 billion Quantum hedge fund, who spurned a request for a $500 million cash infusion. It was also rumored that billionaire investor Warren Buffett might help...