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...time. But that raises the pesky question of why they don't. So far, the answer from OPEC leaders has been that high prices are the fault of speculators and the falling dollar, not low production. They're not just blowing smoke. Lynn Westfall, chief economist of refiner Tesoro Corp., says there's more than enough oil for sale right now. The price pressure, he explains, "is coming from financial participants in futures markets...
...winner or loser," says Michael Morris, a media analyst with UBS. "Both MySpace and Facebook can flourish, just like there's more than one television network." Other big players are casting their lots with one or the other. Microsoft beat Google and Yahoo! in the bidding for Facebook. News Corp. bought MySpace for $580 million in 2005, and Google hosts MySpace's ads, guaranteeing at least $900 million in revenue through...
...play for biotechnology. Of course, there is always a risk in spending massive amounts of focus and money on one sector since so many factors have to align for economic development to work. "Is Singapore really where the top scientists in the world want to be working?" asks Carana Corp.'s Tugendhat. "Just because you build a great campus doesn't mean they're going to come...
...According to the 16-count indictment handed up on Nov. 9, Interstate Industrial Corp., a hauling firm that was trying to get a business license from New York City while under investigation for possible ties to organized crime, paid $255,000 for the redesign and renovation of Kerik's apartment in the Riverdale neighborhood of the Bronx. The renovations included new walls and floors, a new kitchen, new marble bathrooms, a Jacuzzi and a "marble entrance rotunda." An official of the firm, the indictment charges, paid more than $236,000 in rent for a second Kerik apartment. At the same...
Necessity, that great mother of invention, played her role in the creation of DeepStream Technologies. Chief executive Mark Crosier and his core team found it necessary to get work in 2003 after losing their jobs. They became surplus to needs when Eaton Corp., an electrical company based in Cleveland, Ohio, bought the part of Delta Corp. where they worked. "Our whole team was severed in a redundancy, and we decided to design and build a business rather than all pursue our separate ways," recalls Crosier...