Word: archipelagos
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Dates: during 2000-2009
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...sought to "punish" Vietnam for ejecting the Beijing-aligned regime of Pol Pot from power in neighboring Cambodia. (The Chinese, in that encounter, suffered what might politely be termed a thrashing.) And in recent years both countries have laid claim to the Spratly Islands, a disputed, possibly oil-rich archipelago in the South China Sea. Vietnamese wariness of the power of their much larger neighbor may indeed create a compelling geopolitical case for making nice with Washington...
Their trick, in more and more cases, is to route the trade through Gerald Putnam's Archipelago. The Chicago firm, which created one of a new class of trading systems known as electronic communications networks (ECNs), can instantly determine where the best price is--on traditional markets, like the New York Stock Exchange, AMEX and NASDAQ, or among orders that come directly into Archipelago. Trades on the fully automated system are completed in less than a second, while a typical trade on the N.Y.S.E. takes 22 sec. "That's a lifetime in an active market," says CEO Putnam. "Our advantage...
...Putnam, 42, who studied accounting at the University of Pennsylvania, wasn't content to run just a trading network. He's making Archipelago a full-fledged exchange this year by buying the equities arm of the Pacific Stock Exchange. This means that Archipelago will list companies on its own and try to lure blue chips away from other exchanges. If Putnam has his way, Wall Street will no longer be the best route to Easy Street...
Palau is renowned for its marine life. Divers and scientists from around the world fly to this Pacific archipelago 500 miles (800 km) east of the Philippines to view its parrot fish, gobies, damselfish, sharks, turtles, butterfly fish and stately Napoleon wrasses. The Blue Corner on the western reef is rated one of the world's top dive sites for its abundance of big fish. With 1,387 species at last count, Palau has more fish varieties than any other area of Micronesia. But a decade ago, all this was threatened by fishermen. A short boat ride from Ulong takes...
...went to college in Hawaii and then returned to Palau, where he started working for the government. In 1994 he founded the Palau Conservation Society, the archipelago's only homegrown non-governmental organization. He has traveled to Britain, Canada, Italy, the Solomon Islands and Fiji to study, but Idechong has never strayed too far from his village roots. Every time he begins a conservation program, his first instinct is to confer with the village elders. He is now starting to focus on ways of protecting the dugong (sea cow) and the hawksbill turtle, both of which are vulnerable to fishermen...