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...massive political and media sideshow. John Simpson Nashua, New Hampshire, U.S. As a European, I couldn't agree more with columnist Klein's position: "There is something fundamentally un-American - and very European - about the Clintons and the Bushes trading the office every eight years, with stale, familiar corps of retainers, supporters and enemies." American democracy demands new faces. Klein also noted that if Hillary runs for President, it would be "a circus, a revisitation of the carnival ugliness that infested public life in the 1990s." I'm afraid that whoever the candidates will be, the campaign will be ugly...
...giants, announced in early April that it was buying Unocal, a smaller rival, for about $17 billion, it seemed like business as usual in the oil patch: the big getting bigger by swallowing the not quite so big. Across the Pacific, though, management at Chinese National Offshore Oil Corp. (CNOOC), one of China's largest oil firms, was still pursuing what it calls "Operation Treasure Ship." Unocal, some at CNOOC think, fits perfectly into China's fervent effort to secure new oil and gas supplies to fuel its surging economy. Within the next month, CNOOC may make a counteroffer...
...should the patient bargain hunter be buying in Asia today? Wadhwaney suggests looking at out-of-favor Japanese stocks such as Asatsu-DK Inc., an advertising agency that's "extremely cash rich," well positioned in an industry that's ripe for consolidation, and "very cheap." He also likes Nichicon Corp., a producer of aluminum capacitors?ubiquitous components in electronic products. It's an acutely cyclical industry that's deeply depressed, but Nichicon?like every company Wadhwaney owns?is so well capitalized that it will undoubtedly survive while he waits for the downturn to pass. In the meantime, he adds cheerfully...
DIED. MARC LAPPE, 62, outspoken medical ethicist and founding fellow at New York's Hastings Center; of cancer; in Gualala, Calif. Regularly called as an expert witness on environmental contamination, he gave testimony on silicone breast implants that helped lead to a $3.2 billion settlement by Dow Corning Corp., the implants' manufacturer, in 1992--the year the FDA banned general use of the implants...
...your rearview mirror may be closer than they appear. Whereas GM, Ford and DaimlerChrysler posted a record-low monthly U.S. market share of 56.3% in April, Japan's Big Three (Toyota, Honda and Nissan) led Asia's automakers to a record 37.5% share, according to market-research firm Autodata Corp. "The Japanese are moving into new segments [like hybrids and small SUVs], while the Americans are struggling to update their aging product lines," says Nikko Citigroup analyst Andrew Phillips. At the head of the pack: Nissan, with a 32% gain in sales compared with April 2004. --By Jim Frederick/Tokyo