Rise of the Super-Rich Hits a Sobering Wall

The rich, as a group, are no longer getting richer. Over the last two years, they have become poorer. And many may not return to their old levels of wealth and income anytime soon.

Full-text article by David Leonhardt and Geraldine Fabrikant is available via The New York Times, 8.20.09.

Life After Lehman: Nonprofits Brace Amid Bankruptcy

The Lehman Foundation provides gifts to more than 200 nonprofits each year. Through corporate contributions and grants from its U.S. and European foundations, it distributed $39 million in the 12 months ended in November 2007, according to Lehman's Web site.

Melissa Berman, chief executive of Rockefeller Philanthropy Advisors, which advises individuals and corporations about giving away money, said the foundation must close -- eventually -- because it no longer has a corporation sustaining it. Yet its assets are protected from creditors, she said.

Full-text article by Philip Boroff is available via Bloomberg News, 9.16.08.