The pitch was enticing. At a time when the Standard & Poor’s 500 Index had suffered a decline of 41 percent in the previous three years, Morgan Stanley was offering its clients the possibility of some relief.
The two Mexican couriers were hauling a tractor-trailer full of cash: $3 million collected for drugs sold on the streets of Chicago. Juan Gonzalez and David Zuniga were driving their rig through Indiana in October 2011, transporting the money to Mexico. As they stopped to fix a flat tire, three members of the Gangster Disciples, Chicago’s biggest street gang, held them up at gunpoint.
Altegris Managed Futures Strategy Fund , a mutual fund that allows less affluent clients to invest with some of the best-known hedge-fund commodities traders, has attracted $707 million since its start less than a year ago.
Eminem , Lady Gaga , Paul McCartney and Stevie Wonder are confirmed fit to play. So are Prince , Arcade Fire, Soundgarden, Roxy Music and the Scissor Sisters. In this weird team, Bono is out with a back injury, and U2 substituted with Gorillaz.
In the gloom of the 1981-1982 recession, Daniel Patrick Moynihan wrote a letter to a supporter about the upcoming midterm elections. “The issue, plainly put, is whether the center will hold -- in both parties,” said Moynihan, then a Democratic senator from New York. “In three decades of government and politics I have felt myself living in a comprehensible and creative political environment. Of a sudden, I am not certain. Of a sudden, both parties are under attack from extremes.”
The landmark Blackstone Hotel in downtown Chicago, which has hosted 12 U.S. presidents, opened in 2008 after a two-year, $116 million renovation. Inside the Beaux Arts structure, built in 1910, buffed marble staircases greet guests spending up to $699 a night for rooms with views of Lake Michigan.
White House Chief of Staff William Daley was discussing the Egyptian uprising -- massive protests, police in the streets -- and thought he had captured the impact of it well when he said, “The world will be watching.”