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...Yang, 37, better known as Y.E. Yang, stunned the sports world Sunday, Aug. 16, and did more for Asian golf over 18 holes than had ever been achieved before by beating odds-on favorite Tiger Woods in the final round of the USPGA championship. Yang's triumph means that the Asian world finally has a major winner, and he couldn't have done it under less enviable circumstances. The 110th-ranked player in the world was paired with Woods, who, lest we forget, had won all his 14 major championships - the Masters, U.S. Open, British Open and USPGA - when holding...
...sector: PennyMac raised only $335 million in its IPO - less than half of the $750 million it had expected - and its stock fell below its opening price after trading began; Invesco Mortgage Capital Inc. (IVR) raised $170 million; and Cypress Sharpridge Investments (CYS) grabbed $100 million. Starwood fared better, raising $810 million - the second largest IPO this year - but its share price also slipped below its IPO price the first day. (See which businesses are bucking the recession...
...When Nupedia was created in 2000, the plan was for it to feature expert-written, peer-reviewed content. But it suffered from a major problem: a lack of speed. In its first six months, only two articles made it through the process. To spur better production, Sanger suggested creating a counterpart that anyone could contribute to without editorial review. Wikipedia.com went live on Jan. 15, 2001, and the new model quickly eclipsed its older sibling. By the end of the first year, Wikipedia contained more than 20,000 articles in 18 languages. Since then, the site has grown rapidly, swelling...
...legendary head, Harry Hopkins, gave a cogent synopsis of his agency's deep effect on the nation. "You can start out from Baton Rouge in any direction and pass through town after town which has water facilities or sewer facilities or roads or streets or sidewalks or better public buildings, which it would not have had but for the Works Progress Administration." (Read TIME's 1945 cover story on Hopkins, the second most powerful...
...believed in our Mother to bring us hope and peace. Now we can hope for a better country," says Singarayan Celestine, 70, a Tamil who brought his extended family to Madhu. His life had been devastated by the war: two of his sons were killed in cross fire, another went missing while crossing the front lines during the last hours of the fighting. "I am old," he says. "I can't look after my family for much longer. I have lost children to the war." Holding one of his grandchildren while the others played, he says, "We need a better...