Discussions regarding inequality have largely centered on abstract ideas of equity and economic justice. While there is no consensus on the philosophical and moral dimensions of inequality, there is a general agreement that inequality is objectively harmful to the economy.Read More
The German intelligence agency, the Bundesnachrichtendienst, destroyed evidence that its members served the Nazi Party as SS officers, a historical investigation found. Der Spiegel reports that the agency’s retiring head, Ernst Uhrlau, began inquiries into the Bundesnachrichtendienst’s past exploits earlier this year. According to Der Spiegel, it is a commonly-known fact that up to 10 percent of the agency’s members were once affiliated with the Nazis. The documents that the Bundesnachrichtendienst destroyed in 2007 concerned some 250 still-living workers.Read More
Angie’s List (ANGI) went public November 17 and enjoyed a good opening day, raising $130 million dollars for the company.
Angie’s List is a consumer-driven Web site which allows members access to ratings, research, and reviews on local companies. Customers can also hire attractive contractors. Angie’s List reviews companies in various services including home remodeling, plumbing, roof repair, and health care.Read More
This year’s edition of the “War on Christmas” has started right here in Providence College’s backyard. In what may be a rather surprising turn of events, Rhode Island, the smallest state in the Union, has become the center of national news. Outraged Rhode Islanders are protesting Governor Lincoln Chafee’s decision to call the 17-foot-tall blue spruce placed at the center of the rotunda of the Capitol a “holiday tree” rather than a Christmas tree. Both average citizens and state lawmakers alike are expressing their disgust with the independent governor’s decision.Read More
The Cowl Portfolio went up 2.04 percent since October 27, beating the S&P, up 1.53 percent. The top gainer was Intel Corporation, also the second largest firm in the portfolio (as measured by a market cap of $130.66 billion).
The market jumped last week after a stellar jobs report indicated an unemployment rate of 8.6 percent. Analysts have reported improving fundamentals, but the markets are still showing anxiety regarding Europe. For the most part, however, investors are feeling confident about Europe. Stocks went up Wednesday, December 7, indicating confidence in leaders’ ability to come to a solution during the eurozone summit this week. Investors have good reason to be confident after several central banks promised to engage in a coordinated effort to improve liquidity. The situation looks better, but ultimately depends on whether or not world leaders will agree to a quick and effective solution to the debt crisis.Read More
With the 2014 FIFA World Cup set to kick off in approximately two-and-a-half years, Brazilian governmental and military bodies have begun to enter the crucial stages of their major tournament preparations. Just a few weeks ago, government and police personnel removed and cleaned up one of the largest slums in the city, a slum that existed just outside of the nation’s capital of Rio de Janeiro. According to The Telegraph, a British newspaper, “A heavily armed, 3,000-strong security force backed by helicopters took control of Rio’s largest slum in a major operation to expel drug traffickers and prove Brazil can be a peaceful venue for the 2014 World Cup and 2016 Olympics.” This area, one of two major slums located outside of the capital city, has been under the control of drug lords for the last 30 years, and the citizens of the area were happy to see police intervention in the area.Read More
The Providence Men’s Ice Hockey Team entered the weekend in an 0-3 slump that had many people questioning whether their hot start had fizzled out. With a home-and-home series against undefeated, number one Merrimack looming, it did not look as if the Friars would be getting back on the winning end any time soon. But as the old adage goes, “That’s why they play the games.”Read More
Earlier this week, Standard and Poor’s warned six countries in the eurozone that they may face a credit downgrade in the midst of the sovereign debt crisis. The six countries include Germany, France, the Netherlands, Austria, Finland, and Luxembourg, all of which currently have the coveted AAA rating. The United States lost the AAA rating this summer due to the failure of policymakers to implement a long-term solution to the rising budget deficit. It was reported by the Financial Times that S&P told the six countries, “[I]t is our opinion that the lack of progress the European policymakers have so far made in controlling the spread of the financial crisis may reflect structural weaknesses in the decision-making process within the eurozone and European Union.”Read More