Word: globality
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Dates: during 1990-1999
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...week the Federal Reserve bumped its target for the benchmark federal-funds rate to 5.25% from 5%. It was the second such hike this summer, and many believe that the Fed will move again in October. That would fully reclaim the cuts put in place during last year's global crisis and give the Fed more room to cut rates all over again if anything goes wrong at year's end. (Remember...
...idea of forgetting about Cambodian genocide [WORLD, Aug. 16]. Have we so soon forgotten the lesson taught us by Hitler's Holocaust? The one lesson taught by that insane carnage is never to forget. If we allow the memory of such a horrific occurrence in Cambodia to fade from global memory, then there is a chance that it will happen again. Almost 2 million people were brutally slaughtered, but we're no closer to knowing why. The only man who could have told us easily, Pol Pot, died in 1998. The world's reaction to Cambodia is appalling. We need...
...least one entrepreneur who has set up shop to cement business-to-business commerce. Meanwhile, large corporations are using the Internet to build bridges between themselves and their strategic partners. Each member of the online biz-to-biz (B2B) brigade is hoping to use the Net's instantaneous global reach to build digital marketplaces where buyers and sellers who may never have met in the off-line world can gather daily to move huge and growing amounts of the nation's basic goods...
...sometimes numbers alone can paint a pretty clear picture. Take Chemdex.com a vertical e-market based in Palo Alto, Calif., developed for the pharmaceutical and biotech industry in 1997. Chemdex is reducing sales and distribution costs industrywide by 20%--more than $4 billion of the total $20 billion global life-sciences research-products market, according to Volpe Brown analyst Finnie. "In effect," he says, "Chemdex is turning around to the chemical producers, and it is saying, 'Congratulations! This is your lucky day. You just won the lottery. Here's a check for $4 billion.' These guys have not seen their...
...million in funding from companies, including Intel and SAP, since it was founded in 1996. "We enable large corporations to work closely together by linking their different business processes--their enterprise applications and their systems--so they can deliver product by the quickest means." Adaptec, a $1 billion global semiconductor company based in Milpitas, Calif., which uses Extricity technology to connect with its business partners worldwide, offers a textbook example--literally. The company's B2B strategy is a case study at Stanford University's Graduate School of Business...