Forbes is an American business magazine. Published bi-weekly, it features original articles on finance, industry and marketing topics. Forbes reports on related subjects such as technology, science and law, its headquarters is located in New Jersey. Primary competitors in the national business magazine category include Fortune and Bloomberg Businessweek; the magazine is well known for its lists and rankings, including of the richest Americans, of the world's top companies, The World's Billionaires. The motto of Forbes magazine is "The Capitalist Tool", its chair and editor-in-chief is Steve Forbes, its CEO is Mike Federle. It was sold to Integrated Whale Media Investments. B. C. Forbes, a financial columnist for the Hearst papers, his partner Walter Drey, the general manager of the Magazine of Wall Street, founded Forbes magazine on September 15, 1917. Forbes provided the money and the name and Drey provided the publishing expertise; the original name of the magazine was Forbes: Devoted to Doings.
Drey became vice-president of the B. C. Forbes Publishing Company, while B. C. Forbes became editor-in-chief, a post he held until his death in 1954. B. C. Forbes was assisted in his years by his two eldest sons, Bruce Charles Forbes and Malcolm Stevenson Forbes. Bruce Forbes took over on his father's death, his strengths lay in streamlining operations and developing marketing. During his tenure, 1954–1964, the magazine's circulation nearly doubled. On Bruce's death, his brother Malcolm Stevenson "Steve" Forbes Jr. became President and Chief executive of Forbes and Editor-in-Chief of Forbes magazine. Between 1961 and 1999 the magazine was edited by James Michaels. In 1993, under Michaels, Forbes was a finalist for the National Magazine Award. In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company with a reorganization, through a new company, Forbes Media LLC, in which Forbes Magazine and Forbes.com, along with other media properties, is now a part.
A 2009 New York Times report said: "40 percent of the enterprise was sold... for a reported $300 million, setting the value of the enterprise at $750 million". Three years Mark M. Edmiston of AdMedia Partners observed, "It's not worth half of that now", it was revealed that the price had been US$264 million. In January 2010, Forbes reached an agreement to sell its headquarters building Fifth Avenue in Manhattan to New York University; the company's headquarters subsequently moved to the Newport section of downtown Jersey City, New Jersey, in 2014. In November 2013, Forbes Media, which publishes Forbes magazine, was put up for sale; this was encouraged by minority shareholders Elevation Partners. Sale documents prepared by Deutsche Bank revealed that the publisher's 2012 EBITDA was US$15 million. Forbes sought a price of US$400 million. In July 2014, the Forbes family bought out Elevation and sold a 51 per cent majority of the company to Integrated Whale Media Investments. Apart from Forbes and its lifestyle supplement, Forbes Life, other titles include Forbes Asia and fifteen local language editions.
Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox and on Forbes on Radio. Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. From the 2009 Times report: "Steve Forbes returned from opening up a Forbes magazine in India, bringing the number of foreign editions to 10." In addition, that year the company began publishing ForbesWoman, a quarterly magazine published by Steve Forbes's daughter, Moira Forbes, with a companion Web site. The company published American Legacy magazine as a joint venture, although that magazine separated from Forbes on May 14, 2007; the company formerly published American Heritage and Invention & Technology magazines. After failing to find a buyer, Forbes suspended publication of these two magazines as of May 17, 2007. Both magazines were purchased by the American Heritage Publishing Company and resumed publication as of the spring of 2008. Forbes has published the Forbes Travel Guide since 2009.
On January 6, 2014, Forbes magazine announced that, in partnership with app creator Maz, it was launching a social networking app called "Stream". Stream allows Forbes readers to save and share visual content with other readers and discover content from Forbes magazine and Forbes.com within the app. Forbes.com is part of Forbes Digital, a division of Forbes Media LLC. Forbes's holdings include a portion of RealClearPolitics. Together these sites reach more than 27 million unique visitors each month. Forbes.com employs the slogan "Home Page for the World's Business Leaders" and claimed, in 2006, to be the world's most visited business web site. The 2009 Times report said that, while "one of the top five financial sites by traffic off an estimated $70 million to $80 million a year in revenue, never yielded the hoped-for public offering". Forbes.com uses a "contributor model" in which a wide network of "contributors" writes and publishes articles directly on the website. Contributors are paid based on traffic to their respective Forbes.com pages.
Forbes allows advertisers to publish blog posts on its website alongside regular editorial content through a program called BrandVoice, which accounts for more than 10 pe
Order of Merit for Labour
The Order of Merit for Labour was founded as a national order of chivalry in 1923 by King Vittorio Emanuele III of Italy. It is a continuation of the earlier Ordine al Merito Agrario, Industriale e Commerciale founded in 1901. Members of the order may use the title Cavaliere del lavoro; the origins of the order lie with King Umberto I who, in 1898, instituted "a decoration for agricultural and industrial merit and a medal of honour." The first was the exclusive prerogative of large landowners and industrialists, the latter for their employees. This was replaced by the Chivalrous or Knightly Order of Agricultural and Commercial Merit in 1901, intended by Vittorio Emanuele III to give greater dignity to the earlier award. Awarded in the single degree of Knight, the order is open to all Italians, living at home and overseas; every year, on 1 June, 25 new Knights of Labour are invested from a shortlist of 40 candidates. The related Star of Merit for Labour, established in 1923, confers the title of Maestro del Lavoro.
The order is bestowed by decree of the President of the Italian Republic, its head since 1952, on the recommendation of the Minister of Economic Development. The badge bears the inscription Al merito del lavoro—1901. E. monogram at the centre of the Greek cross, now substituted for the national coat of arms. In 1977, the future four-time President of the Council of Ministers, Cav. Silvio Berlusconi, was appointed to the order by the sixth President of Republic, Giovanni Leone, he renounced the title after he was found guilty of tax fraud. List of Italian orders of knighthood Order of Merit of the Italian Republic Presidenza della Repubblica - Le Onorificenze Ordini dinastici della Real Casa di Savoia
University of Modena and Reggio Emilia
The University of Modena and Reggio Emilia, located in Modena and Reggio Emilia, Emilia-Romagna, Italy, is one of the oldest and most prestigious universities in Italy, founded in 1175, with a population of 20,000 students. The medieval university disappeared by 1338 and was replaced by "three public lectureships" which did not award degrees and were suspended in the 1590s "for lack of money"; the university was not reestablished in Modena until the 1680s and did not receive an imperial charter until 1685. Some famous students who attended the University include Ludovico Antonio Muratori, a noted Italian historian and scholar who graduated in 1694, the playwright Carlo Goldoni in the 17th century and, in the last century, Sandro Pertini, who became President of the Italian Republic; the University of Modena dates back to 1175, a few decades after the birth of the University of Bologna, making it one of the oldest universities in Italy and the world. It was established by the city of Modena, which financed professors' contracts through local taxation.
The first to be invited to teach was Pillio da Medicina from Bologna. The School of Law was subsequently made up the nucleus of the University. In the two centuries that followed, the Studium expanded from legal studies to include the training of notaries and the study of medicine as well; the subsequent history of the University was profoundly marked by the changing fortunes of the ruling Este family. Between the sixteenth and seventeenth centuries, when the Court of Este settled in Ferrara, academic titles were no longer awarded, the activities of the Studium were reduced. Only after the Court moved to Modena in 1772 did the University regain its original splendour and academic prestige, receiving an imperial charter from Duke Francis II; the University offered multiple disciplines, including law and surgery, mathematical and natural sciences. The Department of Economics was established in 1968, followed by the Department of Engineering in 1989; the year 1998 was of fundamental importance in the history of the University when the Reggio Emilia site was instituted and the University of Modena and Reggio Emilia was founded, with the support of local institutions.
In fact, Reggio Emilia had an ancient and noble tradition of university studies which ended in 1772 following the reform of Duke Francis II of Este. A School of Law, proposed by the city, is mentioned as early as 1188. In 1532, Emperor Carl V granted the College of Judges the privilege of awarding diplomas and degrees in Law. Duke Alfonse II of Este established a Medical College in 1561 and ten years Emperor Maximilian II authorized the conferral of degrees in medicine. In the seventeenth century, a School of Letters was opened at the Seminary and, in the following century, a chair of Scholastic Theology was established along with schools of grammar and rhetoric. In 1752, the University of Reggio was inaugurated in Palazzo Busetti and consisted of four faculties: Law, Theology and Philosophy. However, its activities continued only until 1772 when, after the reform of Francis II, its right to grant degrees was taken away and given to the University of Modena; the creation of the University of Modena and Reggio Emilia not only combined the ancient traditions of the two cities into one institution, but gave a new and powerful boost to the development of the University, resulting in a substantial growth of scientific and academic activities, which still continues today.
The Department of Engineering and Agriculture was established in Reggio Emilia in 1998, followed in 1999, by the Department of Arts and Humanities in Modena. Subsequently, the University witnessed the birth of the Departments of Communication Sciences and of Education Sciences in Reggio Emilia, while growth continued in Modena with the institution of the Department of Biosciences and Biotechnologies; the university is divided into fourteen Departments: Area: Technology "Enzo Ferrari" Department of Engineering Department of Engineering Sciences and MethodsArea: Life Department of Life SciencesArea: Society Department of Communication and Economics "Marco Biagi" Department of Economics Department of Education and Humanities Department of Law Department of Studies on Language and CultureArea: Health Surgical and Dental Department of Morphological Sciences related to Transplant and Regenerative Medicine Department of Diagnostics and Public Health Medicine Department of Biomedical and Neural Sciences Department of Medical and Surgical SciencesArea: Science Department of Chemical and Geological Sciences Department of Physics and Mathematics Orto Botanico dell'Università di Modena e Reggio Emilia, the university's botanical garden List of early modern universities in Europe List of Italian universities University of Modena and Reggio Emilia website UNIMORE's website for International Students
Modena is a city and comune on the south side of the Po Valley, in the Province of Modena in the Emilia-Romagna region of northern Italy. An ancient town, seat of an archbishop, it is known for its automotive industry since the factories of the famous Italian sports car makers Ferrari, De Tomaso, Lamborghini and Maserati are, or were, located here and all, except Lamborghini, have headquarters in the city or nearby. One of Ferrari's cars, the 360 Modena, was named after the town itself; the University of Modena, founded in 1175 and expanded by Francesco II d'Este in 1686, has traditional strengths in economics and law and is the second oldest athenaeum in Italy. Italian military officers are trained at the Military Academy of Modena, housed in the Baroque Ducal Palace; the Biblioteca Estense houses 3,000 manuscripts. The Cathedral of Modena, the Torre della Ghirlandina and Piazza Grande are a UNESCO World Heritage Site since 1997. Modena is known in culinary circles for its production of balsamic vinegar.
Famous Modenesi include Mary of the Queen consort of England and Scotland. Modena lies on the Pianura Padana, is bounded by the two rivers Secchia and Panaro, both affluents of the Po River, their presence is symbolized by the Two Rivers Fountain by Giuseppe Graziosi. The city is connected to the Panaro by the Naviglio channel; the Apennines begin some 10 kilometres from the city, to the south. The commune is divided into four circoscrizioni; these are: Centro storico Crocetta Buon Pastore San Faustino Modena has a humid subtropical climate, with continental influences. It has an average annual precipitation of 809 millimetres. Summers are warm and winters are chilly and wetter, with the possibility of snowfall; this climate is described by the Köppen climate classification as Cfa. From 1946 to 1992, Modena had an uninterrupted consecutive series of Communist mayors. From the 1990s, the city has been governed by center-left coalitions. At the April 2006 elections, the city of Modena gave about 50% of its votes to the Democratic Party.
The legislative body of the municipality is the City Council, composed by 35 members elected every five years. Modena's executive body is the City Committee composed by 9 assessors, the deputy-mayor and the mayor; the current mayor of Modena is member of the Democratic Party of Italy. The territory around Modena was inhabited by the Villanovans in the Iron Age, by Ligurian tribes and the Gaulish Boii. Although the exact date of its foundation is unknown, it is known that it was in existence in the 3rd century BC, for in 218 BC, during Hannibal's invasion of Italy, the Boii revolted and laid siege to the city. Livy described it as a fortified citadel; the outcome of the siege is not known, but the city was most abandoned after Hannibal's arrival. Mutina was refounded as a Roman colony in 183 BC, to be used as a military base by Marcus Aemilius Lepidus, causing the Ligurians to sack it in 177 BC. Nonetheless, it was rebuilt, became the most important centre in Cisalpine Gaul, both because of its strategic importance and because it was on an important crossroads between Via Aemilia and the road going to Verona.
In the 1st century BC Mutina was besieged twice. The first siege was by Pompey in 78 BC; the city surrendered out of hunger, Brutus fled, only to be slain in Regium Lepidi. In the civil war following Caesar's assassination, the city was besieged again, this time by Mark Antony, in 44 BC, defended by Decimus Junius Brutus. Octavian relieved the city with the help of the Senate. Cicero called it Mutina splendidissima in his Philippics; until the 3rd century AD, it kept its position as the most important city in the newly formed province Aemilia, but the fall of the Empire brought Mutina down with it, as it was used as a military base both against the barbarians and in the civil wars. It is said that Mutina was never sacked by Attila, for a dense fog hid it, but it was buried by a great flood in the 7th century and abandoned; as of December 2008, Italian researchers have discovered the pottery center where the oil lamps that lit the ancient Roman empire were made. Evidence of the pottery workshops emerged in Modena, in central-northern Italy, during construction work to build a residential complex near the ancient walls of the city.
"We found a large ancient Roman dumping filled with pottery scraps. There were vases, bricks, but most of all, hundreds of oil lamps, each bearing their maker's name", Donato Labate, the archaeologist in charge of the dig, stated, its exiles founded a new city a few miles to the northwest, still represented by the village of Cittanova. About the end of the 9th century, Modena
A billionaire, in countries that use the short scale number naming system, is a person with a net worth of at least one billion units of a given currency major currencies such as the United States dollar, the euro or the pound sterling. Additionally, a centibillionaire is used to reference a billionaire worth one hundred billion dollars; the American business magazine Forbes produces a global list of known U. S. dollar updates an Internet version of this list in real time. The American oil magnate John D. Rockefeller became the world's first confirmed U. S. dollar billionaire in 1916, still holds the title of history's wealthiest individual. As of 2018, there are over 2,200 U. S. dollar billionaires worldwide, with a combined wealth of over US$9.1 trillion, up from US$7.67 trillion in 2017. According to a 2017 Oxfam report, the top eight richest billionaires own as much combined wealth as "half the human race". According to the Forbes report released in March 2017, there are 2,043 U. S. dollar billionaires worldwide, from 66 countries, with a combined net worth of $7.67 trillion, more than the combined GDP of 152 countries.
The majority of billionaires are male. In 2015, there were ten LGBT billionaires; the United States has the largest number of billionaires of any country, with 536 as of 2015, while China and Russia are home to 213, 90 and 88 billionaires respectively. As of 2015, only 46 billionaires were under the age of 40, while the list of American-only billionaires, as of 2010, had an average age of 66. In 2019 there is now a record 607 billionaires in the U. S; that includes 14 of the world’s 20 richest. Jeff Bezos is again number 1 in the world, followed by Bill Gates at number 2. According to a 2016 Oxfam report, the wealth of the poorest 95% dropped by 38% between 2010 and 2015, despite an increase in the global population of 400 million. In the same period, the wealth of the richest 62 people between the World's Billionaires increased by $500bn to $1.76tn. This number has fallen from 388 as as 2010. More in 2017 an Oxfam report noted that just eight billionaires own as much combined wealth as "half the human race".
The table below lists numerous statistics relating to billionaires, including the total number of known billionaires and the net worth of the world's wealthiest individual for each year since 2008. Data for each year is from the annual Forbes list of billionaires, with currency figures given in U. S. dollars. Ritholtz, Barry. "Map of World Billionaires by Country and by Origin of Wealth". The Big Picture
Alfredo Ferrari was an Italian automotive engineer and the first son of automaker Enzo Ferrari. He had Duchenne muscular dystrophy and died at the age of 24. After his death, Ferrari named the car fitted with the engine that Alfredo was working on at the time of his death "Dino" in his honour. Born to Enzo Ferrari and his wife Laura Dominica Garello, Alfredo was named after his paternal grandfather. Enzo, who at the time was a racing driver for Alfa Romeo, had vowed to stop racing cars if he had a son. True to his word, he retired from driving in 1932 and concentrated on racing team management with his newly formed Scuderia Ferrari. From an early age Enzo groomed Alfredino, "little Alfredo". Alfredo studied economics in Bologna before moving to mechanical engineering in Switzerland. In his short career at Ferrari, Alfredo was credited for the 750 Monza racing car and to a limited extent a 1.5 litre V6 that would see action in Ferrari's early Formula racers. Alfredo suggested to his father the development of a 1.5 litre DOHC V6 engine for F2 at the end of 1955.
Twelve years to honour his son, Enzo named the Dino series of road and racing Ferraris using this V-6 engine after him. During his time at Ferrari, Alfredo started experiencing health problems, his physical movements became stiff and he was unable to maintain his balance. At his return to Modena, he was diagnosed with Duchenne muscular dystrophy. In the final days of his life, while hospitalized, he discussed technical details of the 1.5-litre V6 with fellow engineer Vittorio Jano. Alfredo would never see the engine; the death of Alfredo took a toll on his parents' marriage, as his mother never got over the loss of her only son and her behaviour became erratic and unstable. The Autodromo Enzo e Dino Ferrari in Italy was named the "Autodromo Dino Ferrari" in Alfredo's honour, with his father's name added after Enzo's death in 1988. Pritchard, Anthony. Ferrari: Men from Maranello. Haynes Publishing. P. 98. ISBN 978-1-84425-414-9
Formula One is the highest class of single-seater auto racing sanctioned by the Fédération Internationale de l'Automobile and owned by the Formula One Group. The FIA Formula One World Championship has been one of the premier forms of racing around the world since its inaugural season in 1950; the word "formula" in the name refers to the set of rules to which all participants' cars must conform. A Formula One season consists of a series of races, known as Grands Prix, which take place worldwide on purpose-built circuits and on public roads; the results of each race are evaluated using a points system to determine two annual World Championships: one for drivers, the other for constructors. Drivers must hold valid Super Licences, the highest class of racing licence issued by the FIA; the races must run on tracks graded "1", the highest grade-rating issued by the FIA. Most events occur in rural locations on purpose-built tracks, but several events take place on city streets. Formula One cars are the fastest regulated road-course racing cars in the world, owing to high cornering speeds achieved through the generation of large amounts of aerodynamic downforce.
The cars underwent major changes in 2017, allowing wider front and rear wings, wider tyres, resulting in cornering forces closing in on 6.5g and top speeds of up to 375 km/h. As of 2019 the hybrid engines are limited in performance to a maximum of 15,000 rpm and the cars are dependent on electronics—although traction control and other driving aids have been banned since 2008—and on aerodynamics and tyres. While Europe is the sport's traditional base, the championship operates globally, with 11 of the 21 races in the 2018 season taking place outside Europe. With the annual cost of running a mid-tier team—designing and maintaining cars, transport—being US$120 million, Formula One has a significant economic and job-creation effect, its financial and political battles are reported, its high profile and popularity have created a major merchandising environment, which has resulted in large investments from sponsors and budgets. On 8 September 2016 Bloomberg reported that Liberty Media had agreed to buy Delta Topco, the company that controls Formula One, from private-equity firm CVC Capital Partners for $4.4 billion in cash and convertible debt.
On 23 January 2017 Liberty Media confirmed the completion of the acquisition for $8 billion. The Formula One series originated with the European Grand Prix Motor Racing of the 1930s; the formula is a set of rules. Formula One was a new formula agreed upon after World War II during 1946, with the first non-championship races being held that year. A number of Grand Prix racing organisations had laid out rules for a world championship before the war, but due to the suspension of racing during the conflict, the World Drivers' Championship was not formalised until 1947; the first world championship race was held at Silverstone, United Kingdom in 1950. A championship for constructors followed in 1958. National championships existed in the UK in the 1960s and 1970s. Non-championship Formula One events were held for many years, but due to the increasing cost of competition, the last of these occurred in 1983. On 26 November 2017, Formula One unveiled its new logo, following the 2017 season finale in Abu Dhabi during the Abu Dhabi Grand Prix at Yas Marina Circuit.
The new logo replaced F1's iconic'flying one', the sport's trademark since 1993. After a hiatus in European motor racing brought about by the outbreak of World War II in 1939, the first World Championship for Drivers was won by Italian Giuseppe Farina in his Alfa Romeo in 1950, narrowly defeating his Argentine teammate Juan Manuel Fangio. However, Fangio won the title in 1951, 1954, 1955, 1956, 1957, his streak interrupted by two-time champion Alberto Ascari of Ferrari. Although the UK's Stirling Moss was able to compete he was never able to win the world championship, is now considered to be the greatest driver never to have won the title. Fangio, however, is remembered for dominating Formula One's first decade and has long been considered the "Grand Master" of Formula One; this period featured teams managed by road car manufacturers Alfa Romeo, Mercedes-Benz, Maserati. The first seasons were run using pre-war cars like Alfa's 158, they were front-engined, with narrow tyres and 1.5-litre supercharged or 4.5-litre aspirated engines.
The 1952 and 1953 World Championships were run to Formula Two regulations, for smaller, less powerful cars, due to concerns over the paucity of Formula One cars available. When a new Formula One, for engines limited to 2.5 litres, was reinstated to the world championship for 1954, Mercedes-Benz introduced the advanced W196, which featured innovations such as desmodromic valves and fuel injection as well as enclosed streamlined bodywork. Mercedes drivers won the championship for two years, before the team withdrew from all motorsport in the wake of the 1955 Le Mans disaster. An era of British dominance was ushered in by Mike Hawthorn and Vanwall's championship wins in 1958, although Stirling Moss had been at the forefront of the sport without securing the world title. Between Hawthorn, Jim Clark, Jackie Stewart, John Surtees and Graham Hill, British drivers won nine Drivers' Championships and British teams won fourteen Constructors' Championsh