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Highlights from past issues
China in Africa: Young Workers, Deadly Mines Children in Congo risk their lives digging cobalt and copper ore with their bare hands for Chinese companies. Busting the Chip Cartel U.S. antitrust prosecutors sent 15 executives from four companies to jail for price fixing of memory chips. There was a rub: The collusion failed. The Subprime in the Schoolhouse The mortgage contagion has hit state-run investment pools that handle $200 billion in funds for schools and cities. Taxpayers are in the dark. Ethanol's Deadly Brew Thousands of Brazilian sugar cane workers are injured and scores die each year in the rush to produce a fuel that Presidents Bush and Lula celebrate as a path to energy independence. Unsafe Havens U.S. money market funds have invested $11 billion in subprime debt, much of it managed by Bear Stearns. The Insurance Hoax Property insurers use secret tactics to cheat customers out of payments—as profits break records. McKinsey's advice to Allstate: Use "boxing gloves" instead of "good hands." The Ratings Charade Subprime mortgages have swept into the booming collateralized debt obligation market, often in CDOs awarded the highest grades by Standard & Poor's, Moody's and Fitch. The Secret World of Modern Slavery Steel used to build cars and appliances in the U.S. starts with forced labor in Brazil. Playing the Odds Doctors disagree on how to treat the more than 230,000 men who will learn they have prostate cancer this year in the U.S.
From Getting to Giving
Hedge funds beset by slumping returns are donating less to charity and demanding more concrete results. Showdown in Charlotte After snapping up Merrill Lynch, Bank of America CEO Ken Lewis is once again trying to master the Wall Street he's long held in contempt. The Survivor Ford CEO Alan Mulally says new, fuel-efficient cars will help end losses in 2011. The recession may crush the company first. Chicago School Blues Milton Friedman's stronghold is under siege as economists blame free-market theories and lax market regulation for the global financial crisis. The Bribery Coast Juan Antonio Roca amassed a 2.4 billion euro fortune as real estate boomed in Spain, marring the coastline with a glut of unsold buildings. Prosecutors say he built it all on corruption. BHP's Philippine Quagmire After losing its bid to buy Rio Tinto, the world's largest mining company has run aground in its efforts to tap a $20 billion nickel deposit. |
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