Master of Business Administration programs the world over should add a new course: Olympus 101. For budding business magnates, it would be a timely exercise into how not to handle a crisis, run a major company or manage the third-biggest economy. It says a lot when world-weary investors hardened by the shenanigans at Enron Corp., WorldCom Inc., Parmalat SpA and Wall Street are aghast at a corporate scandal. The Einsteins at Olympus Corp., the camera and medical-supplies maker, pulled off that fe

PARIS ― Almost everyone nowadays agrees that banks need more capital. Christine Lagarde chose to make it her first campaign as managing director of the International Monetary Fund. And conventional analyses of the financial crisis focus on the weak capital base of many banks, which left them with insufficient reserves to absorb the losses they incurred when asset prices fell sharply in 2007-08.Taxpayers, notably in the United States and the Uni

Nassim Taleb believes in probabilities, not predictions, but at times it can be hard to tell the difference. “The real Black Swan event,” he said in June, “is that people are not rioting against the banks in London and New York.” Taleb saw it coming, and his well-publicized remark may be the only reason Occupy Wall Street hasn’t been labeled a black swan. This once-rare bird, made ubiquitous by Taleb’s best-selling 2007 book of the same title, now appears so often after dramatic events, such as

There is an old adage that “good things come to those who wait, better things come to those who are patient.” The Korean people, businesses and government have been very patient since the KORUS FTA was first completed in 2007. Now that it has been ratified by the U.S. Congress and signed by President Obama, it is now up to the National Assembly to approve the KORUS FTA in order to reap the many benefits for Korean businesses, workers and consumers. The KORUS FTA is the largest FTA for the United

The death of Moammar Gadhafi on Thursday was a victory for the Libyan people, for the NATO coalition, for U.S. forces and for President Barack Obama’s foreign policy vision of “leading from behind.” Criticism of the effort to oust the Libyan dictator ― that it was unfocused and too slow ― looks silly in retrospect. Even Sen. John McCain, no fan of the president, said the administration “deserves credit” for the outcome.And yet the wild swings in the Libya campaign are a reminder that events in t

NEWPORT BEACH ― Judging from the skittishness of both markets and “consensus expectations,” the United States’ economic prospects are confusing. One day, the country is on the brink of a double-dip recession; the next, it is on the verge of a turbo-charged recovery, powered by resilient consumers and U.S. multinationals starting to deploy, at long last, their massive cash reserves. In the process, markets take investors on a wild rollercoaster ride, with the European crisis (riddled with even mo

The foiled plot by agents of the Iranian regime to assassinate the Saudi ambassador to the United States has officials in the Obama Administration furiously scratching their heads for an “appropriate” response.All too often with Iranian provocations, U.S. policy options swing ineffectually between the uncreative (economic sanctions) to the unrealistic (military strikes). One option sure to get the attention of the ruling mullahs in Tehran ― and that could help set the stage for a future democrat

The death of Muammar Gadhafi is a cause for joy in Libya, and for concern. Some worry that the ruling National Transitional Council will force its way to permanent power; others that Islamist elements will seek to put the country under Shariah law; and there is also the danger of the nation splitting into three parts. But there is another tremendous threat to Libya’s progress waiting quietly next door. Algeria’s military junta is terrified that a rebellious spirit may finally cross its borders.

David Appia, a senior French official, was visiting American technology companies a few days ago, trying to convince business executives to open offices in France.Right now, it’s an extremely hard sell.Appia, head of the Invest in France Agency, is a friendly, dapper diplomat. And with a smooth, confident tone he told them: “The EU is still the biggest market in the world.” What’s more, France offers 35 percent to 40 percent tax credits for research and development expenses ― the richest such re