Comment and analysis from Wednesday’s FT:
Wilbur Ross: A positive solution to negative equity
The US federal government has tried to stabilise residential real estate, but nationwide prices have dropped by 13 per cent in the past 12 months. The solutions proposed so far have been directed mainly towards helping delinquent borrowers avoid foreclosure, but the incentives have been weak. Ross has the answer.
FT audio: Judging the Business Book of the Year
What makes a great business book? FT editor Lionel Barber discusses the 2008 FT/Goldman Sachs Business Book of the Year Award with judges, FT contributors, distinguished publishers and authors
Slideshow: Chelsea Flower Show 2008
The annual Chelsea Flower Show is a premier event on Britain’s gardening calendar, attracting celebrities, members of the royal family and the public. This year’s show was officially opened by Queen Elizabeth II on Monday and runs to May 23.
Management blog: Buffett says words fail MBAs
During his most recent annual shareholder jamboree in Omaha, Warren Buffett criticised business schools for being too focused on arcane subjects such as options pricing. But what, in his opinion, should MBA students be learning?, asks Adam Jones. Two very basic skills, it emerges. The world’s richest man spoke while visiting IMD, the Swiss business school, as part of his current tour of Europe.
Martin Wolf: The globalisation debate we need to have
Is the spread of prosperity in the interests of citizens of today’s high-income countries? Is globalisation of their economies in their interest? These distinct questions were raised by two important columns by Lawrence Summers (“America needs to make a new case for trade” on April 27 and “A strategy to promote healthy globalisation” on May 4 ). In these, he argues that the international economic policies of the US need to be coupled more closely to the interests of its workers. What is desperately needed is an honest debate about these issues.
The Short View, video: Oil prices and the Hunt syndrome
In 1980, the Hunt brothers cornered the silver market, causing an epic price spike and then a bust. Crude oil is close to $130 a barrel. Is something similar at work? The US Congress suspects as much and held a hearing on market manipulation on Tuesday. Long-term investors in the sector believe that the big institutions that have entered in recent years are “accidental Hunt brothers”. Text version here.