Word: analysts
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...Amazon's sales grew 42% in the fourth quarter, outpacing e-commerce in general, which rose 5% to 10%, according to Colin Sebastian, senior research analyst at Lazard Capital Markets. "Amazon has emerged as the Walmart of the online retail world," says Sebastian...
...That said, the higher e-book price could actually benefit Amazon's bottom line. "At $9.99, Amazon wasn't making any money," says Hamed Khorsand, an analyst at BWS Financial. "So for Amazon to be forced to sell a product at $12.99, they're basically being allowed to make a profit." If prices continue to escalate higher though, it could be a problem, analysts...
...Though Elmendorf, 47, hasn't always told lawmakers what they wanted to hear in his year on the job, he has won wide praise for his independence. A native of upstate New York, he taught at Harvard before joining the CBO as an analyst in 1993. Since then, he has done stints at the Federal Reserve, the Council of Economic Advisers and the Treasury Department. "I have enormous respect for him," says Senate Budget Committee chairman Kent Conrad. "He plays it straight, and he's enormously serious about getting it right...
...Plane, Gates has come to embody power, control and an astonishing longevity. Just 5 ft. 8 in., with small hands and feet, the demure 66-year-old Kansan has outlasted seven Presidents as well as most of his fellow bureaucrats and policymakers. He's the only entry-level CIA analyst to rise to the top job, director of central intelligence. And he's the only Secretary of Defense ever to be asked to stay on in a rival party's Administration. He has thrived through a combination of endurance, pragmatism and bureaucratic savvy. And during the past year, on issue...
Gates' career has not been without controversy. He made his name as a Cold War hawk, an intelligence analyst who saw the Soviet Union as an implacable and evil adversary. During the Reagan Administration, he sided with hard-liners who got the Soviets wrong. He failed to recognize that Mikhail Gorbachev was a true reformer. He didn't believe that Soviet power was collapsing. "He said the Soviets would never leave Afghanistan. They did. He said [former Afghan President] Najibullah would never survive the Soviet departure. He was totally wrong. Najibullah survived three or four years," recalls Mort Abramowitz...