Word: bonding
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...Board will not be satisfied with such modest rate hikes. In order to nip in the bud any renewal of inflation, the Fed will begin an aggressive tightening of credit and deliberately push interest rates much higher still. That will cause a chain reaction. It will knock stock and bond prices much lower, make consumer buying and business investment more difficult to finance, and maybe put a stop to what is about to become the longest economic expansion in U.S. history...
...economy Net stocks are now up against some old-economy fundamentals they haven't faced before. Rising interest rates are a big deal. The 30-year Treasury-bond yield popped over 6% last week, its highest level in more than a year, and could well stay there. Speculative stocks (and Internet defines the category) tend to get hard hit when higher rates threaten to slow the economy and the market. There are also basic questions about Internet bellwethers, including AOL (Will AT&T shut it out of cable access?) and Amazon (Can it reverse slowing revenue growth...
...ouch, baby, very ouch, when the original James Bond met his mocker Austin Powers during the Cannes Film Festival last month. "Mistah Myers, is this your first time to Cannes?" asked Sean Connery in his thick Scottish brogue. "Yes!" answered Mike Myers nervously. "And is it going well?" Connery inquired. Myers was so flustered before his childhood hero that he could barely squeak out another affirmative reply. "That was all I said, just yes and yes," Myers recalled later. "I was too intimidated to talk, even though I was dying to meet him. What else was I going...
...borrowed Michael Caine's eyeglasses from The Ipcress File, Connery's thatchlike chest hair, the costumes from the Who's rock opera Quadrophenia and the grotty dentures he used in an SNL skit about sugar-filled British toothpaste. The supervillain, bald-pated Dr. Evil, was lifted from the Bond film You Only Live Twice, with Myers adding the pinky-sucking tic of his former SNL boss Lorne Michaels...
...Next spring there will be a prime-time HBO cartoon series. "We want this to be around for the next 10 to 20 years, ad infinitum," says Bob Friedman, the marketing co-chairman of New Line Cinema (which is owned by TIME's corporate parent, Time Warner). As James Bond might say, that's a pretty Moneypenny...