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Those setbacks were not isolated incidents in the supercharged stock market that has made IPOs the hottest way to raise money in the 1990s, just as junk bonds and cheap credit fueled the stock boom of a decade ago. The junk binge left the U.S. with a colossal hangover of corporate debt, and the IPO fever inspires some worries about the country's financial and economic health. Among other things, it raises the issue of whether a casino-like mentality tends to lure investors into high-risk and even dubious new issues, or tempt start-ups to race to market...
...good taste lies behind this dispute, the news for book lovers may be good. Fewer bogus novels by transient celebrities may free up some contracts for actual writers, a few of whom may eventually become big names. That, come to think of it, is how this season's hottest literary celebrity, Jane Austen, got her start...
...fact, Apple seems incapable of forecasting sales for its products. Over the past two years the company has consistently underestimated demand for its hottest PowerBook and Quadra models. It has just as consistently overestimated demand for less popular machines. Between October and December, the value of Apple's inventories of unsold computers rose more than 50%, to nearly $1 billion; the company made more than $350 million worth of computers it could not sell. Already losing money, Apple is not in a good position to hold a sale. Meanwhile, the surplus drags further on the bottom line...
Seven months later, to everybody's surprise--including Sun's--Java is the hottest thing in cyberspace. More than 100,000 copies have been downloaded by software developers eager to try out the new language, which promises to make sending programs across a computer network as easy as sending E-mail or pictures. Hundreds of little Java applications (dubbed "applets") have started to pop up on the World Wide Web, the multimedia portion of the Internet. One site lists more than 700 working Java applets--each only a mouse click away--that generate everything from small dancing cartoon figures...
...proposal constitutes the beginning of "a very, very bold and very different new debate." Kemp challenged Clinton to appoint a bipartisan, blue ribbon commission to draft the sepcifics. But while well-intentioned, Kemp's commission is rooted in politics, notes TIME's Jeffrey Birnbaum. "The flat tax is the hottest new issue on the campaign trail and has launched Steve Forbes into second place," he says. Since Jack Kemp is a longtime flat tax advocate, it seems odd that his commission didn't provide a detailed recommendation. But the commission, Birnbaum notes, "was packed with Dole supporters, and Bob Dole...