Perspective

FACEBOOK’S forthcoming initial public offering has given us a lot to talk about: It’s likely to be the largest in history (cool); it’s predicated on an established business model (good); its future growth remains uncertain (not so good). And it will make its 27-year-old founder incredibly rich (good, for him). But perhaps the most significant thing is its novel control structure.

IT doesn’t take a genius to deduce that the presence of low-cost carriers (LCCs) has, indeed, heated up competition in the country to the benefit of passengers, of course.

THE public is up in arms about some of the big bonuses being paid to the CEOs of bailed-out banks. The boss of Britain’s Royal Bank of Scotland, one of the biggest casualties of the banking crash, recently felt obliged to turn down a $1.5-million bonus in the face of mounting anger and the threat of legislation.