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...city that knows it is a constant target for terror, the huge burst of white steam, a towering column of almost biblical ferocity, was enough to kindle several moments of panic. An underground pipe explosion near Grand Central Terminal during rush hour Wednesday evening spooked commuters and tourists alike in New York City. "The whole ground was shaking," one young woman heading away from the scene said into her cell phone. "It just came from nowhere," said another, "and then everyone was yelling, 'get out of here...

Author: /time Magazine | Title: Manhattan's Big Rush-Hour Scare | 7/18/2007 | See Source »

...experiencing a classic bubble and is destined to crash. Certainly it isn't hard to find evidence to support this conclusion. The 1990s U.S. technology and dotcom bubble saw an explosion of IPOs that peaked in 1999, when companies raised $63.1 billion (still a U.S. record). The bubble burst the following year. China's shares, which now trade on average at about 45 times next year's earnings estimates, are definitely expensive. But there are differences between China's bourses now and the NASDAQ then. The companies offering shares to the public in China are not small, unprofitable start...

Author: /time Magazine | Title: Echo Boom | 7/12/2007 | See Source »

...loaded into a compact 72-gal. (273 L) tank. A jolt of electricity energizes the gas, causing xenon ions to shoot out the back of the ship at 77,000 m.p.h. (124,000 km/h). A stream of charged atoms has somewhat less oomph than a burst of fire--less force than the weight of a single piece of paper, in fact--but over time it adds up. "It's acceleration with patience," says Rayman. "In the four days it takes to increase speed by 60 m.p.h., we'll use only 2 lbs. of propellant. If we keep thrusting, however...

Author: /time Magazine | Title: The Slow-Motion Space Mission | 7/12/2007 | See Source »

...will take more than a CSI: Palo Alto to reverse that trend. Engineering in the U.S. needs a rebranding. IIT went through such a transformation after the tech bubble burst in 2001, when engineers - Indian and American alike- were being laid off by the thousands. That's when some of the school's most prominent alumni decided to turn IIT into a brand combining the brainpower of engineering with the excitement (not to mention the big money) of entrepreneurship, by playing up the accomplishments of IITans like Umang Gupta, CEO of the web services company Keynote and employee...

Author: /time Magazine | Title: A Reunion at the "MIT of India" | 7/9/2007 | See Source »

...That fact may be ominous - the infamous tech bubble burst the next year - and China's shares, now priced at about 45 times earnings, are definitely expensive. But there are enormous differences between Shenzhen and Shanghai now, and the NASDAQ back then. The companies offering their shares to the public in China are not small, technology oriented start ups. They are, for the most part, big state owned companies - oil and gas, mining, banks - most of which have already gone public in Hong Kong, seeking to tap the broader international capital markets. China's two main equity markets...

Author: /time Magazine | Title: China's Stock Market Mania | 7/6/2007 | See Source »

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