Word: high-tech
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...notion of risk management, one of the most important ideas in modern finance. He didn't come up with the notion (credit academia), but more than anyone else he helped pioneer a new kind of risk-aware investing that offered a first glimpse of a world of high-wire, high-tech finance. His legacy has touched every American with a home loan, a credit card or a checkbook. And it has not only made consolidators like McColl and Weill possible--it has also made them essential and inevitable...
...course, all this has risks of its own. Do you really want the banks running high-tech experiments with your money? One of the ideas behind these new superbanks is that with large customer bases they will be able to offer infinitely complex (and incredibly efficient) wealth accounts to the average investor. But taking complex finance out of the hands of Wall Street rocket scientists and putting it into the hands of consumers or even inexperienced bankers is hardly a riskless activity. "Banks have been making less and less money from traditional lines of business," says Douglas Gale, an economics...
Last Tuesday the shame disappeared. Gillette is unveiling the Mach3, the three-bladed wonder these three engineers had often glimpsed but never captured. Giddy for men of their age and earnestness, they exhibit their high-tech gizmo in a small, unadorned office in a brick, Industrial Age building in South Boston topped with Hollywood-style letters spelling out WORLD SHAVING HEADQUARTERS. John Terry, the elderly, thick-glassed British engineer whose team came up with the design for the successor to the twin-track Sensor, cradles the prototype between his thumb and forefinger as if it were a Honus Wagner. Terry...
...Gates spent years swearing he wouldn't pursue. Then there's Windows DNA FS (Distributed Internet Applications for Financial Services, for those keeping score at home), Microsoft's bid for the banking industry's long-term back-office software business, which looks like one of the biggest cash cows high-tech capitalism has yet to offer...
...state-of-the-art Uber-zoos, like those in the Bronx, San Diego and Washington, whose mission is to help save species from extinction by breeding and studying them in captivity and, when possible, returning their descendants to the wild. Critics argue that the new zoos are merely high-tech amusement parks masquerading as research centers and that they divert funds from legitimate habitat-conservation programs. To be fair, several species have been saved through the efforts of these zoos. But as the deaths at Animal Kingdom show, it can be tricky to mix ecology and entertainment. "What...