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...will boost energy independence, but not everyone thinks that's a good idea. Because so much of the American gross domestic product is involved in the coal, petroleum and nuclear industries, walking away from them would set off severe economic shock waves. "The grid is a $360 billion asset," says Clark Gellings, a vice president of the nonprofit Electric Power Research Institute. "It's literally a national treasure." Gellings believes that decentralization will play some role in the energy industry of the future, but he thinks it will always be a minority player. "It may be 20% of the supply...

Author: /time Magazine | Title: Blackout '03: Getting By Without the Grid | 8/25/2003 | See Source »

Hambali could prove to be an important asset. CIA interrogators are attempting to pump him for information about future attacks and the whereabouts of Osama bin Laden's dwindling inner circle. According to a U.S. intelligence official, an al-Qaeda detainee told the U.S. that Hambali had been trying to recruit pilots for a 9/11-like plot that might have involved suicide hijackings, but it is not known whether the captive was telling the truth and, if he was, when or where the plot would have taken place. And while it is unlikely that Hambali knows the precise coordinates...

Author: /time Magazine | Title: How An Al-Qaeda Bigwig Got Nabbed | 8/25/2003 | See Source »

...Private-asset values have taken a beating in the recession, and start-ups are desperate for financing. Four years ago, a typical $100,000 angel investment would have bought a 0.5% stake in a new company. Now the same investment probably buys a 2% to 5% stake, and you're investing at the bottom of the cycle. Don't expect a swift payback, however. Angel investments may remain illiquid for five to 12 years, which could encompass two or even three economic cycles. But the odds of long-term success are best if a company starts during a recovery...

Author: /time Magazine | Title: Investing: How to Be an Angel | 8/25/2003 | See Source »

...there's a very low level of interest," says Richard Eats of Threadneedle Investments. That may be changing; some fund managers say they've seen growing interest in the past two weeks. But such latecomers "may have missed the big move," says Bob Parker, deputy chairman of Credit Suisse Asset Management, who still expects the rally to continue, albeit less dramatically. Carlyle's Euro Shopping Spree A secretive, well-connected U.S. financial firm may be close to achieving what European governments and companies have long failed to do: consolidate Europe's defense industry. The Carlyle Group, a Washington, D.C.-based...

Author: /time Magazine | Title: Biz Watch | 8/24/2003 | See Source »

...your retirement strategy, a new online one-stop shop for 401(k) information can help. Run by the National Association of Securities Dealers (NASD), the Smart 401(k) Investing website www.nasd.com/investor/smart/401k explains the basics and also offers info for slightly more sophisticated investors--such as insights on asset-allocation strategies based on number of years until retirement, tax implications of borrowing from your account to buy a house, and options for what to do with your money if you switch jobs...

Author: /time Magazine | Title: Money: Time To Revisit Your 401(K) | 8/18/2003 | See Source »

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