Friday, September 20, 2013

Reuters: People News: Soros to marry for third time with three-day New York celebration

Reuters: People News
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Soros to marry for third time with three-day New York celebration
Sep 21st 2013, 03:22

George Soros and Tamiko Bolton are shown as they prepare to attend the reception at Museum of Modern Art (MOMA) in this handout photo released on September 20, 2013. Soros, the 83-year-old billionaire investor, philanthropist and active supporter of liberal political causes, is set to marry health care and education consultant Bolton on Saturday at his estate near New York City. REUTERS/Julie Skarratt Photography/Handout via Reuters

1 of 3. George Soros and Tamiko Bolton are shown as they prepare to attend the reception at Museum of Modern Art (MOMA) in this handout photo released on September 20, 2013. Soros, the 83-year-old billionaire investor, philanthropist and active supporter of liberal political causes, is set to marry health care and education consultant Bolton on Saturday at his estate near New York City.

Credit: Reuters/Julie Skarratt Photography/Handout via Reuters

By Jennifer Ablan

NEW YORK | Fri Sep 20, 2013 11:22pm EDT

NEW YORK (Reuters) - George Soros, the 83-year-old billionaire investor, philanthropist and active supporter of liberal political causes, is set to marry health care and education consultant Tamiko Bolton on Saturday at his estate near New York City.

Three days of festivities will begin Friday with a dinner followed by a reception at the Museum of Modern Art in Manhattan for a preview of the new exhibition, "Magritte: The Mystery of the Ordinary, 1926-1938" of works by Belgian painter Rene Magritte.

Soros and Bolton, 42, plan to exchange vows in a small ceremony on Saturday morning at the Bedford, New York estate, which Soros bought in 2003 from "Jurassic Park" author Michael Crichton. Kimba Wood, a federal judge, will perform the non-denominational ceremony, which will be attended by members of the couple's families, including his five children, a source familiar with the arrangements told Reuters.

The wedding ceremony will be followed by a reception on Saturday evening with more than 500 guests at an arts center in nearby Katonah. Guests at the various events include World Bank President Jim Yong Kim and some foreign leaders, including Hendrik Toomas Ilves, president of Estonia; Ellen Johnson Sirleaf, president of Liberia; and Edi Rama, prime minister of Albania.

Also expected to attend are fellow titans of the hedge fund world, Paul Tudor Jones and Julian Robertson. From the political realm those invited include Minority Leader of the U.S. House of Representatives Nancy Pelosi of California and Lt. Gov. Gavin Newsom of California, both Democrats.

Soros, who established one of the first hedge funds in 1969 and is probably best known for his big bet against the British pound in 1992, met Bolton at a dinner party in 2008. Their engagement was announced in August 2012.

Bolton, who was raised in California, is the daughter of a nurse and a retired naval officer. She graduated from the University of Utah and holds an MBA from the University of Miami.

Bolton has been a consultant and entrepreneur working in the fields of health and education. She started an Internet-based dietary supplement and vitamin sales company, and her most recent project was advising on development of a web-based yoga education platform.

The bride's dress has been designed by U.S.-based, Lebanon-born designer Reem Acra, whose gowns have shown up on the red carpet on many stars, including Angelina Jolie and Jennifer Lopez.

For Soros, who has a net worth of $20 billion according to Forbes, this will be his third marriage. It will be the second for Bolton.

When asked if there is a prenuptial agreement, the source familiar with the wedding arrangements said that Soros's lawyer, William D. Zabel, reiterated his comments from last year that "Soros will leave the bulk of his estate to charity but he intends to provide generously for his wife."

In 2011, Soros, who is an active contributor to politically liberal causes and frequently speaks on world economic events, converted his hedge fund into a family office and stopped managing money for outside investors.

In the past three decades, the Hungarian-born Soros has given away more than $7 billion to promote democracy, foster free speech, improve education and fight poverty around the world, according to his foundation's website on www.opensocietyfoundations.org.

Soros was divorced from Annaliese Witschak in 1983 and Susan Weber Soros in 2005.

Chef Bo Bech of the Geist Restaurant in Copenhagen will prepare the food. Soros and Bolton first dined at Geist when visiting Copenhagen in 2009.

The reception on Saturday night will feature Hungarian composer and conductor Iván Fischer, a family friend, who created a new arrangement for the occasion, which will be presented with the Budapest Festival Orchestra. Cape Verdean singer Mayra Andrade will perform with the Harris Lane Orchestra. Andrade and Roma ensemble Via Romen will perform at a Sunday brunch.

In lieu of gifts, the couple asked that donations be made to charities including Global Witness, Harlem's Children Zone, National Dance Institute, Planned Parenthood and the Roma Education Fund.

(Reporting By Jennifer Ablan; Editing by Martin Howell and Grant McCool)

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Reuters: People News: Soros to marry for third time with three-day New York celebration

Reuters: People News
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Soros to marry for third time with three-day New York celebration
Sep 20th 2013, 21:00

George Soros and Tamiko Bolton are shown as they prepare to attend the reception at Museum of Modern Art (MOMA) in this handout photo released on September 20, 2013. Soros, the 83-year-old billionaire investor, philanthropist and active supporter of liberal political causes, is set to marry health care and education consultant Bolton on Saturday at his estate near New York City. REUTERS/Julie Skarratt Photography/Handout via Reuters

George Soros and Tamiko Bolton are shown as they prepare to attend the reception at Museum of Modern Art (MOMA) in this handout photo released on September 20, 2013. Soros, the 83-year-old billionaire investor, philanthropist and active supporter of liberal political causes, is set to marry health care and education consultant Bolton on Saturday at his estate near New York City.

Credit: Reuters/Julie Skarratt Photography/Handout via Reuters

By Jennifer Ablan

NEW YORK | Fri Sep 20, 2013 5:19pm EDT

NEW YORK (Reuters) - George Soros, the 83-year-old billionaire investor, philanthropist and active supporter of liberal political causes, is set to marry health care and education consultant Tamiko Bolton on Saturday at his estate near New York City.

Three days of festivities will begin Friday with a dinner followed by a reception at the Museum of Modern Art in Manhattan for a preview of the new exhibition, "Magritte: The Mystery of the Ordinary, 1926-1938" of works by Belgian painter Rene Magritte.

Soros and Bolton, 42, plan to exchange vows in a small ceremony on Saturday morning at the Bedford, New York estate, which Soros bought in 2003 from "Jurassic Park" author Michael Crichton. Kimba Wood, a federal judge, will perform the non-denominational ceremony, which will be attended by members of the couple's families, including his five children, a source familiar with the arrangements told Reuters.

The wedding ceremony will be followed by a reception on Saturday evening with more than 500 guests at an arts center in nearby Katonah. Guests at the various events include World Bank President Jim Yong Kim and some foreign leaders, including Hendrik Toomas Ilves, president of Estonia; Ellen Johnson Sirleaf, president of Liberia; and Edi Rama, prime minister of Albania.

Also expected to attend are fellow titans of the hedge fund world, Paul Tudor Jones and Julian Robertson. From the political realm those invited include Minority Leader of the U.S. House of Representatives Nancy Pelosi of California and Lt. Gov. Gavin Newsom of California, both Democrats.

Soros, who established one of the first hedge funds in 1969 and is probably best known for his big bet against the British pound in 1992, met Bolton at a dinner party in 2008. Their engagement was announced in August 2012.

Bolton, who was raised in California, is the daughter of a nurse and a retired naval officer. She graduated from the University of Utah and holds an MBA from the University of Miami.

Bolton has been a consultant and entrepreneur working in the fields of health and education. She started an Internet-based dietary supplement and vitamin sales company, and her most recent project was advising on development of a web-based yoga education platform.

The bride's dress has been designed by U.S.-based, Lebanon-born designer Reem Acra, whose gowns have shown up on the red carpet on many stars, including Angelina Jolie and Jennifer Lopez.

For Soros, who has a net worth of $20 billion according to Forbes, this will be his third marriage. It will be the second for Bolton.

When asked if there is a prenuptial agreement, the source familiar with the wedding arrangements said that Soros's lawyer, William D. Zabel, reiterated his comments from last year that "Soros will leave the bulk of his estate to charity but he intends to provide generously for his wife."

In 2011, Soros, who is an active contributor to politically liberal causes and frequently speaks on world economic events, converted his hedge fund into a family office and stopped managing money for outside investors.

In the past three decades, the Hungarian-born Soros has given away more than $7 billion to promote democracy, foster free speech, improve education and fight poverty around the world, according to his foundation's website on www.opensocietyfoundations.org.

Soros was divorced from Annaliese Witschak in 1983 and Susan Weber Soros in 2005.

Chef Bo Bech of the Geist Restaurant in Copenhagen will prepare the food. Soros and Bolton first dined at Geist when visiting Copenhagen in 2009.

The reception on Saturday night will feature Hungarian composer and conductor Iván Fischer, a family friend, who created a new arrangement for the occasion, which will be presented with the Budapest Festival Orchestra. Cape Verdean singer Mayra Andrade will perform with the Harris Lane Orchestra. Andrade and Roma ensemble Via Romen will perform at a Sunday brunch.

In lieu of gifts, the couple asked that donations be made to charities including Global Witness, Harlem's Children Zone, National Dance Institute, Planned Parenthood and the Roma Education Fund.

(Reporting By Jennifer Ablan; Editing by Martin Howell and Grant McCool)

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Monday, September 16, 2013

Reuters: People News: Eiji Toyoda, who helped steer Toyota's rise, dies at 100

Reuters: People News
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Eiji Toyoda, who helped steer Toyota's rise, dies at 100
Sep 17th 2013, 05:33

File photo of Toyota Motor Corporation's honorary chairman Eiji Toyoda introducing a Toyota Cavalier compact car.

By Yoko Kubota

TOKYO | Tue Sep 17, 2013 1:33am EDT

TOKYO (Reuters) - Eiji Toyoda, who helped steer Toyota Motor Corp's global rise and pioneered the automaker's vaunted production system, died on Tuesday, the Japanese automaker said. He was 100.

Toyoda, cousin of the automaker's founder, died of heart failure in Toyota City, the company said in a statement.

A taciturn engineer, Toyoda served as president between 1967 and 1982. He was chairman until 1994 and remained an honorary advisor at Toyota up until the time of his death.

Over his career, Toyoda presided over Toyota's rise in the U.S. market from the launch of the Corolla in the late 1960s to the decision to begin making cars in the United States in the late 1980s.

Toyoda was also instrumental in developing what became the automaker's much-imitated method of producing cars with as little waste as possible and continual quality improvements, a system that became known as the "Toyota Way".

In 1950, company founder Kiichiro Toyoda sent Eiji, a graduate of the University of Tokyo, to Ford Motor Co's massive Rouge Plant to learn about car making from the company that had pioneered mass production.

In a story that is still shared at Toyota training sessions, Toyoda returned to Japan impressed with U.S. materials and machinery but convinced that he could make improvements to Ford's world-famous production system.

"Japan's automobile industry facilities and engineers are good but our machine tools are inferior. If we can solve this problem, we can manufacture good and economic vehicles that are equal to America's," Toyoda wrote after his month and a half of training at Ford's major factories.

At the time of his death, Toyoda was being treated at a hospital the company had first founded as a clinic for its factory workers in 1938.

(Additional reporting by Chang-Ran Kim; Editing by Kevin Krolicki and Jeremy Laurence)

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Reuters: People News: Pop singer Pink named Billboard's Woman of the Year

Reuters: People News
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Pop singer Pink named Billboard's Woman of the Year
Sep 16th 2013, 23:11

U.S. singer Pink performs on main stage during Budapest's Sziget Music Festival on an island in the Danube River in this August 10, 2007 file photo.

Credit: Reuters/Laszlo Balogh/Files

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Reuters: People News: Gates tops Forbes rich list again as young wealthy play catch up

Reuters: People News
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Gates tops Forbes rich list again as young wealthy play catch up
Sep 16th 2013, 15:49

Bill Gates speaks during Peterson Institute 2013 Fiscal Summit on Facing the Future in Washington, May 7, 2013. REUTERS/Yuri Gripas

Bill Gates speaks during Peterson Institute 2013 Fiscal Summit on Facing the Future in Washington, May 7, 2013.

Credit: Reuters/Yuri Gripas

By Beth Pinsker

NEW YORK | Mon Sep 16, 2013 11:49am EDT

NEW YORK (Reuters) - The richest 400 Americans are significantly richer in 2013 than they were last year and younger Americans are accumulating wealth at a faster clip than their baby boomer counterparts, according to two reports released Monday.

The annual Forbes 400 wealthiest Americans list showed that total wealth climbed 19 percent in the last year to $2.02 trillion, up from $1.7 trillion, with an average net worth per individual of $5 billion, up from $ 4.2 billion in 2012. It now takes $1.3 billion in assets just to get on the list. (See the full list at forbes.com).

Atop the list for another year was Bill Gates, who at 57 has a net worth of $72 billion. He was followed by Warren Buffett, who despite giving away about $1 billion last year, was the biggest gainer, adding $12.5 billion to bring his fortune to $58.5 billion.

The average age was 66, according to Forbes senior editor Kerry Dolan. Only 32 of those selected were 48 or younger, fitting them into Generation X or Generation Y, while the rest of the list were baby boomers. Many of the younger billionaires are household names who made their fortunes in the tech industry - Facebook's Mark Zuckerberg (20), Computer maker Michael Dell (25), Yahoo's Jerry Yang (327), Tesla Motor's Elon Musk (61) and Google's Larry Page and Sergey Brin (13 and 14).

"It takes a long time to build up a company that's worth billions of dollars - unless you've inherited it," said Dolan.

GENERATION GAP

A separate survey also released on Monday shed new light on the youngest generation of millionaires. The Fidelity Millionaire Outlook shows that rich Gen X and Gen Yers are earning more money and amassing more assets than baby boomer millionaires. Salaries average $677,000 for those 48 and younger compared to $198,000 for those older, and total average assets are $5.7 versus $5.2 million.

"I think the game has changed," said Brian Dombkowski, chief investment officer of Sand Hill Global Advisors, a Palo Alto, California firm managing $1.25 billion in client assets. "Young entrepreneurs today made their money by building a better mousetrap, and they have been rewarded by the market for it. We have seen significantly more wealth creation than we did in earlier generations."

Fidelity surveyed 542 households with more than $1 million in investable assets May 2013, and for the first time in the six-year history of the report, there was enough of a demographic spread to break out information comparing generations. About 86 percent of the sample were baby boomers (born before 1965) and 14 percent were in Generation X and Generation Y (born after 1965).

The total number of U.S. households with $1 million or more in assets, not including a primary residence, was estimated at 9 million in 2012, according to Spectrem Group, a Chicago, Illinois-based research firm that tracks affluence, up from 8.6 million in 2011.

Younger millionaires are spending more aggressively than baby boomers in many categories, according to Bob Oros, executive vice president of Fidelity Institutional Wealth Services.

Nearly 90 percent reported taking annual foreign vacations, compared to just 56 percent of baby boomers. Two-thirds said they owned vacation homes and had country club memberships, versus 21 percent and 15 percent among the older cohort. And 38 percent reported flying first class, while only 5 percent of baby boomers did that.

Younger millionaires also give generously - an average of $54,000 in donations to charity each year. Boomers only average $12,000.

Adviser Dombkowski, who works with many clients who have made money in the tech sector, said these entrepreneurs often come to him and ask: once their families are taken care of, what can they give away? "Schools are a big part of it, but it's varied," he said.

(Follow us @ReutersMoney or here. Editing by Linda Stern and Andrew Hay)

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Sunday, September 15, 2013

Reuters: People News: Miss New York wins Miss America contest

Reuters: People News
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Miss New York wins Miss America contest
Sep 16th 2013, 03:55

Miss America contestant, Miss New York Nina Davuluri (in yellow) celebrates with other contestants after being chosen winner of the 2014 Miss America Pageant in Atlantic City, New Jersey, September 15, 2013.

Credit: Reuters/Lucas Jackson

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Thursday, September 12, 2013

Reuters: People News: Audio pioneer Ray Dolby of famed sound system dead at 80

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Audio pioneer Ray Dolby of famed sound system dead at 80
Sep 12th 2013, 22:52

Thu Sep 12, 2013 6:52pm EDT

(Reuters) - Ray Dolby, the engineer who pioneered the noise reduction in audio recordings that produced clearer sound for music and cinema, died on Thursday. He was 80.

Dolby, whose name became synonymous with home sound systems and cinema and won an Oscar, a Grammy and two Emmys for his work, died at his home in San Francisco, said the company he founded, Dolby Laboratories Inc.

Dolby had been suffering from Alzheimer's disease in recent years and had been diagnosed with leukemia in July.

"Though he was an engineer at heart, my father's achievements in technology grew out of a love of music and the arts," Dolby's son, novelist Tom Dolby, said in a statement.

"He brought his appreciation of the artistic process to all of his work in film and audio recording."

Dolby was born in Portland, Oregon, and grew up in the San Francisco area. He began his career in the audio and visual recording fields by helping to develop a videotape recording system for the Ampex Corporation in the 1950s.

He then went on to complete his Ph.D. at Britain's Cambridge University and in 1965 founded Dolby Laboratories in London, which initially became best known for his work in noise reduction of audio recordings and surround sound.

Dolby moved his company to San Francisco in 1976 and in 1989 was awarded an Oscar for his contributions to cinema, which he shared with Dolby executive Ioan Allen.

Dolby also was given music's Grammy award 1995 and television's Emmys in 1989 and 2005.

He is survived by his wife, Dagmar, and two sons.

(Reporting by Eric Kelsey; editing by Mary Milliken)

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