Karen McNeill, Ph.D., used to teach history at the University of California, Berkeley. In June, she took a job as head of family history with Ascent Private Capital Management, a new unit of U.S. Bancorp that manages the affairs of ultra-wealthy families.
U.S. Bancorp , the fifth-largest U.S. lender by deposits, said its wealth-management group is establishing a program to help ultra-high-net-worth clients build legacies and control the impact of money on their families.
They call it “money camp.” Twice a week, 6- to 11-year-old scions of wealthy families take classes on being rich. They compete to corner commodities markets in Pit, the raucous Parker Brothers card game, and take part in a workshop called “business in a box,” examining products that aren’t obvious gold mines, such as the packaging on Apple Inc.’s iPhone rather than the phone itself.
Three publishers that settled U.S. Justice Department claims they conspired with Apple Inc. to fix the prices of electronic books are working to resolve related state claims, their lawyers told a judge in New York.