The America's Intelligence Wire articles from September 2003

The America's Intelligence Wire archives from September 2003

The BusinessWeek Best-Seller List.
September 1, 2003... (From BusinessWeek) HARDCOVER BUSINESS BOOKS 1GOOD TO GREAT Jim Collins (HarperBusiness -- $27.50) How run-of-the-mill companies make the leap to excellence. Last Month: 1, Months on List: 22 2 EXECUTION Larry Bossidy, Ram Charan (Crown...

WHY IS CALLAWAY CHASING GOLF BALLS? By Robert Barker rb@businessweek.com.
September 1, 2003... (From BusinessWeek) About playing golf, what I know fits neatly on a tee's pointy tip (that end goes up, right?) Yet I can't help thinking the people at Callaway Golf also have some things to learn, in their case about investments, deep...

Not So Dark at FLIR.
September 1, 2003... (From BusinessWeek) Finding a good growth stock at a reasonable price can be as hard as spotting a terrorist in the dark. FLIR Systems (FLIR) can help on both counts, says Preston Athey of T. Rowe Price, who owns the stock. FLIR makes...

Really Pumping At Apache.
September 1, 2003... (From BusinessWeek) For a play on accelerating world economies, look to commodities such as oil, say savvy money managers. For an extra kick, buy shares of a company with exceptional skill in helping meet rising demand. Apache (APA), an...

A Rich Haul From Bond Sales.
September 1, 2003... (From BusinessWeek) Like most other investors, Richard Steinberg of Steinberg Global Asset Management knows the bottom line on any stock is whether you trust its management. That's one reason he likes insurer Odyssey Re (ORH). Its execs...

THE WEEK AHEAD.
September 1, 2003... (From BusinessWeek) EXISTING HOME SALES Monday, Aug. 25, 10 a.m. EDT -- Existing home sales in July probably rose to an annual rate of 5.9 million, from 5.8 million in June. That's based on the median forecast of economists surveyed by MMS...

STOP BICKERING AND FIX THE POWER GRID.
September 1, 2003... (From BusinessWeek) The blackout of 2003 did more than cut off the lights for 50 million people. People couldn't use their computers to get to the Internet. They couldn't reach their children and friends on cell phones. The August power...

CHEESY ETHICS FROM KRAFT?
September 1, 2003... (From BusinessWeek) Ever since a surgeon general's report said 61% of American adults and 13% of kids are overweight, lawyers have been chewing on ways to hold food companies responsible. Leading the charge is John Banzhaf III, a George...

WHEN 'SELL' MEANS 'BUY'.
September 1, 2003... (From BusinessWeek) All the sparring between regulators and Wall Street over analyst research may be overdone. Investors can profit from analysts' advice -- as long as they do the opposite. After Wall Street's 10 top firms agreed to a...

HOW MUCH FINANCIAL MUSCLE?
September 1, 2003... (From BusinessWeek) Whoever emerges as California's governor after the state's recall election will face a languishing economy, falling bond ratings, and a huge budget deficit. All of which raises a question about the Republican...

TABLE: A Long Way To Go.
September 1, 2003... (From BusinessWeek) A year after Sarbanes-Oxley, corporate governance is still a concern. Ratings service Governance Metrics International ranked 1,600 companies on governance, scoring each from 1 (worst) to 10 (best). Some of the worst:...

DAN QUAYLE AT THE TRAILER PARK.
September 1, 2003... (From BusinessWeek) Former Vice-President Dan Quayle may have said it best a decade ago: ``If we do not succeed, then we run the risk of failure.'' But failure has been good to Quayle. It's what vulture investors like New York's Cerberus...

ALL THIS AND FREE WIRELESS, TOO.
September 1, 2003... (From BusinessWeek) The island nation of Niue may be just a speck in the middle of the Pacific, but it's a speck with a new claim to fame. Niue is the first country to offer free wireless access nationwide. It hasn't been easy to get...

GOING OUT SINGING.
September 1, 2003... (From BusinessWeek) It's not an issue many music execs ever face: How to promote the final album of a terminally ill artist. But that is exactly what the folks at Artemis Records have had to figure out as they prepare for the Aug. 26...

SOME BAFFLING CALLS ON TREASURY BONDS.
September 1, 2003... (From BusinessWeek) U.S. Treasury officials have a horrible track record when it comes to managing the public debt in the interests of taxpayers (``What bonds are saying,'' News: Analysis & Commentary, Aug. 4). Today's failure to issue...

HATS OFF TO VERIZON'S VISION.
September 1, 2003... (From BusinessWeek) I'm glad that Verizon Communications Inc. Chief Executive Officer Ivan G. Seidenberg has such ambitious plans. I look forward to that day in the far, far future when I have a fiber-optic connection to my home...

LIVING OFF THE FAT OF THE LAND.
September 1, 2003... (From BusinessWeek) The supersizing of the American diet with fat-, sugar-, and salt-laden food attests to the marketing success of our food, beverage, and restaurant industries in eking out growth in a slow-growth sector (``The heat in...

THE DANGERS OF DECRIMINALIZING DRUGS.
September 1, 2003... (From BusinessWeek) Gary S. Becker recommends decriminalizing drugs in ``How to level the playing field for young black men'' (Economic Viewpoint, Aug. 4). If drugs were decriminalized, then more professional drug-distribution systems...

GIVE WEARY DOCTORS A BREAK.
September 1, 2003... (From BusinessWeek) It's unfortunate that ``Is the third shift pulling its weight?'' (UpFront, July 28) wasn't given more prominence, considering the astounding losses incurred by fatigued workers. Extrapolating the data to health care is...

LET YOUR FINGERS DO THE LOG-IN.
September 1, 2003... (From BusinessWeek) Remember the sci-fi flicks and spy thrillers of your youth, where the good guys could magically open doors or arm missiles simply by touching a special button that recognized their fingerprints? Companies with...

A LITTLE CAESAR WITH A BIG FOOTPRINT.
September 1, 2003... (From BusinessWeek) THE PRINCE OF PROVIDENCE The True Story of Buddy Cianci, America's Most Notorious Mayor, Some Wiseguys, and the Feds By Mike Stanton Random House -- 442pp -- $25.95 When I was growing up in Providence, downtown was...

DETROIT'S BIG THREE ARE HEADING FOR A PILEUP.
September 1, 2003... (From BusinessWeek) The Big Three American car companies began talks with the United Auto Workers in July to renew their four-year labor contracts, and they intend to conclude new arrangements by mid-September. Although critical issues...

THAT SUMMER BREEZE COULD WAFT FOR A WHILE.
September 1, 2003... (From BusinessWeek) The economy shot out of the third-quarter starting gate like Seabiscuit taking on War Admiral. From retail sales to factory activity to exports, almost all the economic reports were surprisingly positive. Indeed, some...

STILL IN THE STRONG GRIP OF DEFLATION.
September 1, 2003... (From BusinessWeek) Several recent signs offer hope that the Japanese economy is gaining strength, but deflation and other barriers to growth remain firmly entrenched. Second-quarter growth in real gross domestic product was surprisingly...

SMALL BUSINESS GETS WIRED IN A BIG WAY.
September 1, 2003... (From BusinessWeek) Seoul auto-repair shop owner Youn Sang Won gets as greasy as any other mechanic when he's deep in the engine of a customer's car. But these days, he's wiping his hands more often to take on a more delicate task: firing...

A DISCOUNT CARRIER SPREADS ITS WINGS.
September 1, 2003... (From BusinessWeek) After nearly two years of shaking up Malaysia's domestic airline industry with his no-frills Air Asia, aviation entrepreneur Tony Fernandes is ready to broaden his horizons. In early August, Air Asia won landing rights...

THE BIG FOUR: TOO FEW TO FAIL?
September 1, 2003... (From BusinessWeek) The Securities & Exchange Commission is finally getting around to disciplining the auditors who played supporting roles in some of the biggest corporate disasters in modern time. In mid-August, it banned two...

POLITICAL POWER OVERLOAD.
September 1, 2003... (From BusinessWeek) The Great Blackout of 2003 may be over, but the debate over how to make the power grid safer is running on alarmingly low voltage. Even people who should know better are making statements that demonstrate evidence of...

CLOSING IN ON A TURKISH CLAN.
September 1, 2003... (From BusinessWeek) Is it finally high noon for one of Turkey's most powerful business dynasties? It looks that way. In mid-August, Turkish prosecutors issued arrest warrants for five members of the Uzan clan, including 71-year-old...

TURKEY'S DELIGHT: A GROWING ECONOMY.
September 1, 2003... (From BusinessWeek) Just 18 months ago, things looked decidedly rocky for Turkey's mighty Koc Holding. The Istanbul conglomerate, the country's largest industrial group with some $10 billion in annual sales, was bearing the full brunt of...

WHAT NEEDS TO BE DONE NOW.
September 1, 2003... (From BusinessWeek) For a commodity we take for granted, electricity is remarkably challenging to deliver. The national grid that sends electrons to our computers and toasters is, in essence, one huge electrical circuit. The laws of...

EUROPE'S TELCOS: WHAT TO DO WITH ALL THAT CASH?
September 1, 2003... (From BusinessWeek) It's hard to believe that just a year ago, Europe's telecom giants were the dogs of the business world. Bludgeoned by the tech crash, they suffered humiliating credit downgrades, watched their once high-flying stocks...

THE PEACOCK IS SPREADING ITS WINGS.
September 1, 2003... (From BusinessWeek) The hottest new show in TV-land these days is Bravo's Queer Eye for the Straight Guy, where five gay men give hapless heteros style makeovers. Now the company that owns Bravo looks as if it is about to get a major...

BACK-TO-SCHOOL IS GETTING HIGH MARKS.
September 1, 2003... (From BusinessWeek) Lulu Flores can thank President George W. Bush for her new cargo miniskirt. As soon as the tax-credit checks arrived, her parents gave her $200 to spend on back-to-school items. That's $50 more than last year. On Aug....

CHANGING HIS CHANNEL.
September 1, 2003... (From BusinessWeek) Confronting a fierce public backlash against relaxing media-ownership laws, Federal Communications Commission Chairman Michael Powell is trying to make amends. Powell directed the agency on Aug. 20 to recommend ways to...

VIAGRA HAS A HEADACHE.
September 1, 2003... (From BusinessWeek) The little blue pill is geting a little competition. On Aug. 19, Bayer and GlaxoSmithKline received Food & Drug Administration approval for their impotence drug Levitra. The drug is the first major challenger to...

HAMMERING AWAY AT HOME DEPOT.
September 1, 2003... (From BusinessWeek) With the baby boomers now in their nesting years, the battle between retailers Home Depot and archrival Lowe's has become the do-it-yourself equivalent of the cola wars. And the second quarter looks like another win for...

RJR: Smoke, Smoke Everywhere.
September 1, 2003... (From BusinessWeek) The mood is glum on Tobacco Road. On Aug. 20, R.J. Reynolds Tobacco Holdings told workers to expect an unspecified number of job cuts as soon as September. The layoff warning comes after the maker of such popular brands...

NORTHWEST'S SKIES ARE CLEARING.
September 1, 2003... (From BusinessWeek) Northwest Airlines won't have to break into its piggy bank after all. The nation's No. 4 carrier got the go-ahead from the Labor Dept. on Aug. 18 to replenish underfunded pension plans with stock in a regional-airline...

CHARGES IN A BW STOCK-TIP CASE.
September 1, 2003... (From BusinessWeek) Federal authorities have charged a former U.S. Postal Service employee with securities fraud for misappropriating stock tips from BusinessWeek. On Aug. 20, the SEC sued Davi Thomas, formerly employed in a Mount Vernon...

HOW THE BUSHIES WILL SPEND AN AVALANCHE OF CASH.
September 1, 2003... (From BusinessWeek) Running for office isn't cheap. Senate campaigns in states such as North Carolina can set you back $10 million, and a Presidential bid totals more than 10 times as much. Even by those expensive standards, President...

EXERCISE IN FUTILITY I.
September 1, 2003... (From BusinessWeek) Florida Senator Bob Graham's Presidential campaign is playing a name blame game. It's citing moniker confusion for the increase in his negative poll ratings. Team Graham suggests South Carolina Democrats are mixing...

THE ODDS ON ARNOLD.
September 1, 2003... (From BusinessWeek) Will Arnold Schwarzenegger be California's next governor? You can bet on it -- and the odds are in his favor. Betonsports.com, one of the biggest gambling sites, has an Arnold win at 1-2. At BoDog.com, $10 on Arnold...

A RENAISSANCE IN RETAIL BANKING.
September 1, 2003... (From BusinessWeek) Russia has done a lot to nurture a consumer-oriented, free-market economy out of the ruins of communism. But one crucial gear of capitalism is still missing -- a thriving network of private retail banks. A single,...

A CHILL EAST WIND.
September 1, 2003... (From BusinessWeek) At first glance, IBM's computer disk-drive factory in Szekesfehervar, western Hungary, doesn't look the picture of industrial decline. Built just eight years ago, its bright blue, green, and white facade still glows...

PC MAKERS: MORE SALES, FEWER PROFITS.
September 1, 2003... (From BusinessWeek) If anybody in Taiwan should be happy with the computer business, it's Quanta Computer Inc. Chairman Barry Lam. Since he founded Quanta in 1988, it has become one of the world's biggest designers and manufacturers of...

RESHUFFLE IN PARIS?
September 1, 2003... (From BusinessWeek) France's center-right government is in the hot seat for the way it handled the unprecedented mid-August heat wave, which claimed as many as 10,000 lives. As a result, President Jacques Chirac may move forward plans for...

HOW MUCH CAN YOU STILL TELL YOUR LAWYER?
September 1, 2003... (From BusinessWeek) In a world wallpapered with regulation, big companies can't avoid brushing up against the law from time to time. They inevitably hire a small cadre of people who cut corners, ignore procedures, and make deals with the...

CHINA'S DREAM TEAM.
September 1, 2003... (From BusinessWeek) Sun Yunbo never dreamed he might one day design cars. In fact, the farm boy from China's Jilin Province didn't even ride in an automobile until age 19. So the notion that his creations might someday roll off an assembly...

KEEPING THE FROTH ON SAM ADAMS.
September 1, 2003... (From BusinessWeek) Just as Jim Koch is about to paste a sticker for Samuel Adams beer on the cooler of a Manhattan supermarket, the red-faced manager appears. ``Don't you dare put anything on my shelves without my permission,'' he fumes....

EUROPEAN JUNK REGAINS ITS LUSTER.
September 1, 2003... (From BusinessWeek) Dead in the water. That about sums up the state of the European high-yield bond market last year. Issuance of ``junk'' bonds slowed to a trickle. Moody's Investors Service downgraded a total of 71 issues, compared with...

TALBOTS GOES FOR TESTOSTERONE.
September 1, 2003... (From BusinessWeek) Retreat has been the order of the day for many players in the miserable menswear market. No wonder. ``These days, the No. 1 reason a guy buys new clothes is that he has gained weight or his clothes are frayed,'' says...

``I Can't Remember''.
September 1, 2003... (From BusinessWeek) ``We are who we are in good measure because of what we have learned and what we remember.'' -- Nobel Laureate Dr. Eric R. Kandel The 76-year-old California lawyer appears to be the very model of healthy aging. C.L., who...

JOBS ARE SCARCE. B-SCHOOLS SHOULD GET USED TO IT.
September 1, 2003... (From BusinessWeek) When Jean Eisel began working in MBA career services a decade ago, finding jobs for grads was a cinch. The best B-schools could simply hang out their shingles and, like magic, employers would show up. There was a...

WACHOVIA'S $400 MILLION HUNCH.
September 1, 2003... (From BusinessWeek) When G. Kennedy Thompson took the helm of First Union Corp. in early 2000, it quickly became clear he was cut from a different cloth than his predecessor, Edward E. Crutchfield Jr. The blustery Crutchfield was known...

Country Focus/France.
September 1, 2003... (From BusinessWeek) The French economy had a particularly difficult second quarter. Economists may now once again lower growth estimates for the year and the government will have a tougher time hashing out a budget. Second-quarter real...

A NASTY SURPRISE FROM HP.
September 1, 2003... (From BusinessWeek) Hewlett-Packard Co. execs have insisted all year that the company is fast rivaling Dell Inc.'s ultra- efficient, low-cost model for selling computers. But on Aug. 19, some gaping holes were poked in this sanguine claim....

WHO SAYS CEOs CAN'T FIND INNER PEACE?
September 1, 2003... (From BusinessWeek) On June 3, Marc Benioff, the affable CEO of Net startup Salesforce.com Inc., was playing host to 400 customers, business partners, and journalists at the Grand Havana Room, a tony cigar bar on the top floor of a midtown...

SAM WYLY'S HEDGE-FUND FIASCO.
September 1, 2003... (From BusinessWeek) It seemed like a match made in heaven. Billionaire Dallas investor Samuel E. Wyly would launch a group of hedge funds. Russell D. Glass, a protege of legendary financier Carl C. Icahn, would join him to run at least one...

RUSSIAN CAPITALISM: A WORK IN PROGRESS.
September 1, 2003... (From BusinessWeek) The Russian people appear to be discovering that, in practice, ``Chicago School'' capitalism owes at least as much to Al Capone as it does to Friedrich Hayek (``Russia,'' Cover Story, Aug. 4). History shows that giving...

SWEDEN'S COMING VOTE ON ECONOMIC INDEPENDENCE.
September 1, 2003... (From BusinessWeek) I liked ``What'll it be, Sweden?'' (European Business, Aug. 4), especially the part about how wonderful Stockholm is in the summertime. But I didn't see what I wanted to see about the coming vote on the ``single...

IRAQ: THE ALIENATORS HAVE LANDED.
September 1, 2003... (From BusinessWeek) I'm not a regular reader of BusinessWeek -- maybe that is why I was taken aback by Stan Crock's article ``Iraq: After the shootout'' (American News, Aug 4). The fact is that we bombed, invaded, and then took control of...

IT'S TIME TO REBUILD BRAND EQUITY.
September 1, 2003... (From BusinessWeek) Now that the accounting profession is rediscovering its relevance in matters of financial reporting and internal control, it's also time to rethink budgetary controls (``Brands in an age of anti-Americanism,'' Special...

THE REAL SECRET OF LIFE EXTENSION.
September 1, 2003... (From BusinessWeek) In your review of Merchants of Immortality: Chasing the Dream of Human Life Extension, your headline ``Who wants to be a 150-year-old?'' (Books, Aug. 4) demonstrates that most people miss the key issue on life...

COMPETITION DOESN'T HELP HARD-TO-TEACH STUDENTS.
September 1, 2003... (From BusinessWeek) Repeating something often enough does not make it true, even when the assertion emanates from a fellow at the Hoover Institution (``How to level the playing field for young black men,'' Economic Viewpoint, Aug. 4)....

PC vs. TV.
September 1, 2003... (From BusinessWeek) We spend as much time in front of our home computers as we do watching TV. So says an InsightExpress survey of 500 home PC owners, which found that 57% of Americans are just as likely to point and click as channel-flip....

Palaces for the Golden Years.
September 1, 2003... (From BusinessWeek) A Florida condo and early bird dinners? Forget about it: An increasing number of Americans among the 5.5 million expected to retire this decade will opt for $1 million-plus trophy homes with spas, exercise rooms, and...

SET TO SIZZLE.
September 1, 2003... (From BusinessWeek) Just in time for Labor Day, here are two hot new barbecue items. Planning a cookout in the park? Rather than lug charcoal, take along the 41-pound Weber Q portable gas grill ($179). The cast-iron grate can hold 18...

Time to Rethink The 529.
September 1, 2003... (From BusinessWeek) The tax-free status of state-sponsored college savings plans -- known as 529 plans, after the part of the tax code that created them -- once made them the best deal around. But because of recent tax cuts, other...

A Net to Get Caught Up In.
September 1, 2003... (From BusinessWeek) A year ago, Internet stocks were the dateless, unwanted dweebs of the high school prom. But like a good Mom, BusinessWeek said their day would come. Last August, we rolled out the Real-World Internet Index and told...

Discreet Luxury.
September 1, 2003... (From BusinessWeek) Exacting German critics awarded high marks to Audi's all-new A8 flagship when it was introduced in Europe last fall. Sure, some carped that the car looked too much like its conservatively styled predecessor. But as I...

My First Handheld.
September 1, 2003... (From BusinessWeek) Kids are no different from Mom and Dad when it comes to scheduling. They need to juggle school assignments, play dates, and soccer practice. One thing that might help: a personal digital assistant (PDA) designed for the...

Get the Picture -- With One Hand.
September 1, 2003... (From BusinessWeek) Finally, a digital camera tailored just for the surf-and-ski set. Sony has taken its popular Cyber-shot U camera, turned it vertically, and wrapped it in a rugged, waterproof housing. The result is a $249 camera that's...

Hunting Buried Treasure By GPS.
September 1, 2003... (From BusinessWeek) Like Christopher Columbus and Meriwether Lewis, Brian Sniatkowsky is an intrepid explorer. Only instead of discovering new territory, Sniatkowsky, a computer programmer from Kinnelon, N.J., finds Tupperware containers...

Nikkei tops 10,500; dollar eases to 3-month low vs.yen.
September 1, 2003... (From CBS Marketwatch (Stories)) TOKYO (CBS.MW) - Tokyo's key stock index jumped 1.8 percent to clear the 10,500 level Monday as growing economic optimism fueled gains for technology issues and exporters. Other Asian markets were also...

UPDATE 1-Consider safety when buying cribs, car seats.
September 1, 2003... (From CBS Marketwatch (Stories)) NEW YORK (CBS.MW) -- When it comes to furnishing the nursery, there's a great deal to know. These guidelines from Consumer Reports help parents put safety concerns into perspective. The first rule is to...

Nikkei near 14-month high; dollar falls below 117 yen.
September 1, 2003... (From CBS Marketwatch (Stories)) TOKYO (CBS.MW) - Tokyo's key stock index rallied more than 2 percent to hover near a 14-month high on Monday as growing economic optimism fueled gains for technology issues while exporters also jumped...

Avis Europe: Signs of recovery in car rental demand.
September 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- Avis Europe , the largest car rental group in Europe, said Monday said sales in the six months to June dropped 5.5 percent to 527 million euros. Profit before tax dropped to 15.3 million...

Europe stocks up as France Tele lifts deal hopes.
September 1, 2003... (From CBS Marketwatch (Stories)) LONDON (CBS.MW) - European stocks rose Monday, extending the gains overnight in Asia and on Friday in New York and as France Telecom unveiled a $7 billion proposal to buyout minority holders in mobile...

Goldman ups Europe tech-IT services to attractive.
September 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- Broker Goldman Sachs Monday raised its sector rating on European software and technology services to attractive from neutral. T Goldman analysts said they "believe investors should...

AstraZeneca, deals lift London stocks.
September 1, 2003... (From CBS Marketwatch (Stories)) LONDON (CBS.MW) - U.K. stocks rose Monday, rising in-line with global markets and as deals and offers lifted hopes for the much-awaited pick-up in mergers and acquisitions activity in London. The FTSE...

Pechiney: Latest Alcan bid better, but 'falls short'.
September 1, 2003... (From CBS Marketwatch (Pulses)) LONDON (CBS.MW) -- French aluminum group Pechiney has rejected a new offer from Canadian rival Alcan that valued Pechiney at 47 or 48 euros per share. Alcan's first, hostile $4 billion offer valued Pechiney...

UPDATE 1-Europe stocks up as France Tele lifts deal hopes.
September 1, 2003... (From CBS Marketwatch (Stories)) LONDON (CBS.MW) - European stocks rallied Monday, extending the gains in global equities and as France Telecom unveiled a $7 billion proposal to buyout all the minority holders in mobile carrier Orange. ...

Snow says plans to talk flexible rates on China visit.
September 1, 2003... (From CBS Marketwatch (Pulses)) TOKYO (CBS.MW) -- U.S. Treasury Secretary John Snow said in Tokyo that he plans to discuss the issue of flexible exchange rates on his upcoming visit to China. "We want to be heard on the issue of...