Everyone favors greater transparency in markets. But surprisingly, sometimes it can backfire.
"Transparency" is one of those policy prescriptions that pretty much everyone can agree with, like "Be nice to people" and "Never run with scissors". Even libertarians generally smile when the government steps in to force businesses to provide more information, though to be sure, when the business is a fast food restaurant, and the information is how much fat we'll pack on if we eat the 10-piece McNuggets we're craving, that smile may take on a certain strained, false quality.
To get out of prison early.
Looks like jail puts some things in perspective. By giving up the right to $40 million he forfeited as well as any right to repeal on 19 convictions, former Enron CEO Jeff Skilling could be out of prison as early as 2017—10 years earlier scheduled. The deal would allow Skilling to return to daily life at age 63 instead of 74. The former CEO was sentenced to the longest sentence of any individual involved in the Enron scandal.
The Citi Bike program creeps into town.
New York City’s much-anticipated, much-delayed, much-debated bike-sharing program is starting to make progress. No bikes are yet available – the authorities have been talking about a Memorial Day launch. But in certain parts of Manhattan and Brooklyn the infrastructure is starting to appear, mostly in the form of docking stations. Including these in front of the Daily Beast’s headquarters on West 18th St.
The designer has teamed with Paperless Post to create invites directly inspired by his fall collection.
Can’t afford anything from Oscar de la Renta’s last collection? Now might be your chance. The designer has teamed up with online-invitation behemoth Paperless Post to create a line of stationery, based on the exact prints from his fall collection. The range of invitations will be available both online (and, of course, on the company's mobile platforms) as well as in real paper stock. The collaboration will launch with 50 original wedding designs and then expand into general invites (including some for kids) later this year.
The good news is that health care costs aren't rocketing away like they used to. The bad news is that drug discovery has slowed down too.
While working on some of my recent posts about the Oregon study, I came across this report from the CDC on changing causes of death over time. If you spend any time thinking about the history of health innovation in America, it's pretty fascinating. The first thing you notice is that how we die hasn't changed all that much since the Great Depression: the leading causes of death today are cancer and heart disease, just as they were in 1935.
Authorities in Belgium, France, and Switzerland say they’ve got the robbers who stole $50 million worth of ice from Brussels Airport. But details are sketchy, reports Christopher Dickey.
Belgian authorities announced Wednesday that in cooperation with the Swiss and French they’d rounded up 31 suspects in the stunning $50 million diamond heist at Brussels Airport last February. But the account they gave of the gem theft had very little clarity or color.According to Jean-Marc Meilleur, a spokesman for the Brussels prosecutor’s office talking to reporters in Brussels, “In Switzerland, we have found diamonds that we can already say are coming from the heist, and in Belgium large amounts of money have been found.
Nearly one-third of bee colonies perished last winter. A new study suggests the sudden decline in the population could take a big economic toll on the agricultural economy – far beyond declines in honey production.
Talk about a buzzkill. U.S. honey bee populations are continuing to dwindle and it could have drastic effects on agriculture The Wall Street Journal reports. A study released Wednesday by the U.S. Department of Agriculture found that 31 percent of bee colonies died this past winter—about 800,000 bees.The report is the latest in a serious of mass honey bee deaths reported over the past several years. A decline was first reported by beekeepers in 2006 and is attributed to multiple factors such as parasites, mal-nutrition, disease and parasites.
Mayer meets with execs.
Apparently the SNL archives were just a first step. Yahoo CEO Marissa Mayer has reportedly met with top executives at Hulu to explore buying the subscription video service. Hulu, which is owned by News Corp., Disney, and Comcast and has roughly $300 million in debt, is also being pursued by the Chernin Group and Guggenheim Partners. The move by Yahoo comes after its failed bid to buy France Télécom’s Dailymotion in April.
Japan Inc. comeback?
This may be the year Toyota gets its groove back. The world’s largest automaker tripled its profits year over year to $9.7 billion. A weakened yen (down 30 percent since last September), company reductions, and strong sales in North America powered the Japanese company to its strongest year in five years.
Patagonia has proven that charging a premium for ecofriendly products is a solid business model. Now it’s starting an internal venture fund to seed likeminded green businesses.
Patagonia, the clothing company that is equal parts high-end outdoor apparel retailer and environmental advocate, has made a practice of giving one percent of its profits to nonprofit grass-roots environmental organizations. Now it’s looking to boost its profits by investing in for-profit sustainable businesses. On Monday the company launched $20 Million and Change, an in-house venture that will invest in startup businesses involved with food, water, energy or waste.
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After a University of Massachusetts student found significant errors in a study beloved by budget cutters world over by Harvard economists Kenneth Rogoff and Carmen Reinhart, Stephen Colbert does what he does best -- leaves them in the dust.
Paying a living wage comes at a cost, but it can help the bottom line, says Charney, who... More
Apple has avoided billions in taxes. Congress says they want to know why. But we know why--and it's probably not going to change.