danmahony.com/exclusive: GRADUATION SPECIAL
  VERITA$—"Harvard Management Company (HMC), a wholly owned subsidiary of Harvard University...is governed by a Board of Directors that is appointed by the President and fellows of the University. HMC currently manages $21.5 billion Harvard Annual Full Report (pdf)." COLUMBIA MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE DOCUMENT, OR ANY PART THEREOF, INCLUDING ANY WARRANTIES OF TITLE, NONINFRINGEMENT OF COPYRIGHT OR PATENT RIGHTS OF OTHERS, MERCHANTABILITY, OR FITNESS OR SUITABILITY FOR ANY PURPOSE source." "Columbia will also provide information on a confidential basis regarding endowment holdings and investment management source." Wealth&Power: Plato's Denial  

AMERICAN CIGARETTES TWICE AS BAD— "...cigarettes such as Marlboros contain up to twice as much of a cancer-causing chemical as foreign brands, federal health officials said Friday Reuters/Yahoo, June 1." McDONALD'S SUES CRITIC—"...he has no intention of going back on saying its burgers taste of rubber and its fries of cardboard Reuters/Yahoo, May 30." "Scientists called 'flavorists,' wearing lab coats, cobble together chemicals to recreate the flavor of fresh cherries or grilled hamburgers, always keeping 'mouthfeel' in mind NYTomes." Novel: 1999 

   AA THREATENED UNIONS AND STOCKHOLDERS WITH BANKRUPTCY DESPITE PARENT CORP'S $32 BILLION IN ASSETS AND NO DROP IN PASSENGERS —"We’re in a big hole source." "The flight attendants union said it was ready to take any necessary actions that would help the world's largest carrier avoid bankruptcy Reuters."  AMR Balance Sheet  Wealth & Power: Assets or Addictions

. THE GREAT INVESTOR REVOLT OF 2002?—"The University of California, the lead plaintiff in the Enron shareholders lawsuit, filed a consolidated complaint in the U. S. District Court naming J. P. Morgan Chase, Citigroup, Merrill Lynch, Credit Suisse First Boston, Canadian Imperial Bank of Commerce (CIBC), Bank America, Barclays Bank, Deutsche Bank and Lehman Brothers as key players in a series of fraudulent transactions that ultimately cost shareholders more than $25 billion source."

GREENSPAN DOUBTED BUSH TAX CUT WOULD PREVENT RECESSION AND STAYED RATE-CUT COURSE—"Such tax initiatives, however, historically have proved difficult to implement in the time frame in which recessions have developed and ended source (pdf)."

PIMCO QUESTIONS GE'S GIANT DEBT —"While GE Capital enjoys the benefit of an Aaa rating, they nonetheless have commercial paper outstanding which totals three times the size of their bank lines which back them up. Normally companies which borrow in the CP market are required to have bank lines at least equal to their commercial paper, but GE Capital has been allowed to accumulate $50 billion of unbacked CP because of the lack of market discipline source."

QUEBEC PREMIER URGES ADOPTION OF US DOLLAR A LA EURO— "Bernard Landry, the Quebec Premier, says there is an urgent need for Canada to adopt the U.S. dollar. 'When we have a free-trade zone like we do in North America, it could deteriorate and end badly if we don't have a common currency' source."

CHINA GROWTH LEADS WORLD AT 7%—"Our goal for each year's growth in the five-year plan is 7.0 percent. The growth rate last year was down from the 8.0 percent growth rate in 2000, but still made China the fastest expanding major economy in the world, amid the worst global slowdown in two decades source."

CHINA NOW SIXTH BIGGEST ECONOMY, WILL BE SECOND BY 2030— (1) "China has snatched the sixth place from Italy in the table of the world's top economic powers, the Bloomberg news agency reported on Monday source." (2) "China's economy will grow on average by six percent a year for the next two decades, propelling it to become the second-largest in the world by 2030, a report by a leading investment bank said Friday source."  Click also. (3)  CHINA'S TOP TEN TRADE PARTNERS: Japan, US, EU, Hong Hong, ASEAN, Taiwan, S. Korea, Australia, Russia, Canada source.   (4) CHINA'S '92 -'99 GDP DECLINED FROM 14% TO 7%— source. Click also New China News.

Wealth & Power: Assets or Addictions?