Good news: Moodys upgraded New York City's General Obligation (called GO) debt to A-1 from A2, citing "strong management that shepherded the city thru one of its most serious fiscal crises in decades."

Bad news: The European Commission reduced its 2005 growth forecast for the euro zone on Monday to a miserable 1.6 percent from 2 percent, the second cut in six months, because of record oil costs and rising unemployment. Growth for 2005 will be down from 2 percent last year, the European monetary commissioner, Joaquín Almunia, said in Brussels, according to the New York Times. The commission also trimmed its 2006 forecast to 2.1 percent, from 2.2 percent, and said that risks to this projection are "tilted to the downside." Michael Hume, an economist at Lehman Brothers in London, said the euro region, the 12 nations using the currency, is "an albatross around the global economy's neck."

He didn't say why. But ask any European businessman what he thinks of European regulations and you'll get a quick and heavy earful.

The Cardinals won't be staying at Motel 6. The Pope built them a comfortable $20 million "hotel," with real bathrooms. It wasn't always this comfortable. In 1271, after the papal throne was vacant for three years, anxious Catholics locked up the indecisive cardinals in a crumbling building and put them on a strict diet of bread and water until they made a decision. For an extra dose of motivation, the roof was removed. After enduring rain and harsh sunshine, the cardinals finally elected Pope Gregory X.

Verizon -- Part 2. An email to CEO Ivan Seidenberg produced action. My phone lines got fixed. I counted eight people involved -- what with phone calls and visits. Amazing waste of time (mine and theirs). They dispatched two people to my office. But the problem was at their central office, a mile way -- something they could have figured out if their operations computers worked. While their executive's brains are focused on buying valueless assets -- like MCI -- their customers suffer with 1950s service. Verizon is an amazing mess.

Still digging out of ten feet of paper: The 10 foot pile of paper on my desk is not pleasant. But New York's spring weather is. Blue skies, warm temperatures. Who wants to focus on K1s, 1099s and the awful stockmarket? Time for a bicycle ride and some tennis. Maybe some exercise will get my investment juices flowing.

NEW EVENING CLASSES FOR MEN
DAY ONE

HOW TO FILL ICE CUBE TRAYS
Step by step guide with slide presentation

TOILET ROLLS - DO THEY GROW ON THE HOLDERS?
Round table discussion

DIFFERENCES BETWEEN LAUNDRY BASKET AND FLOOR
Practicing with hamper (Pictures and graphics)

DISHES & SILVERWARE; DO THEY LEVITATE / FLY TO KITCHEN SINK OR DISHWASHER BY THEMSELVES?
Debate amongst a panel of experts

LOSS OF VIRILITY
Losing the remote control to your significant other - Help line and support groups

LEARNING HOW TO FIND THINGS
Starting with looking in the right place instead of turning the house upside down while screaming - Open Forum

DAY TWO

EMPTY MILK CARTONS; DO THEY BELONG IN THE FRIDGE OR THE TRASH?
Group discussion and role-play

HEALTH WATCH; BRINGING HER FLOWERS IS NOT HARMFUL TO YOUR HEALTH
PowerPoint presentation

REAL MEN ASK FOR DIRECTIONS WHEN LOST
Real life testimonial from the one man who did

IS IT GENETICALLY IMPOSSIBLE TO SIT QUIETLY AS SHE PARALLEL PARKS?
Driving simulation

LIVING WITH ADULTS; BASIC DIFFERENCES BETWEEN YOUR MOTHER AND YOUR PARTNER
Online class and role-playing

HOW TO BE THE IDEAL SHOPPING COMPANION
Relaxation exercises, meditation and breathing techniques

REMEMBERING IMPORTANT DATES & CALLING WHEN YOU'RE GOING TO BE LATE
Bring your calendar or PDA to class

GETTING OVER IT; LEARNING HOW TO LIVE WITH BEING WRONG ALL THE TIME
Individual counselors available

Harry Newton

This column is about my personal search for the perfect investment. I don't give investment advice. For that you have to be registered with regulatory authorities, which I am not. I am a reporter and an investor. I make my daily column -- Monday through Friday -- freely available for three reasons: Writing is good for sorting things out in my brain. Second, the column is research for a book I'm writing called "In Search of the Perfect Investment." Third, I encourage my readers to send me their ideas, concerns and experiences. That way we can all learn together. My email address is . You can't click on my email address. You have to re-type it . This protects me from software scanning the Internet for email addresses to spam. I have no role in choosing the Google ads. Thus I cannot endorse any, though some look mighty interesting. If you click on a link, Google may send me money. That money will help pay Claire's law school tuition. Read more about Google AdSense, click here and here.
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