Word: hugeness
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...Games, a collection of extreme sports competitions whose winter event takes place January 22-25, did not exist until ESPN (and its hipper offshoot, ESPN2) realized in the early 1990s that there was a huge, demographically desirable slice of America that wasn't watching SportsCenter. ESPN executives, aware they were missing out on ad dollars that could be coaxed from finicky flannel-wearing Gen Xers, launched the X Games in 1995. (See TIME's Top 10 Fringe World Titles...
...bored with football and baseball, while even more were on skateboards practicing their Ollies in mall parking lots across the country. ESPN spent a reported $10 million on the 1995 X Games, drawing some 200,000 spectators to the competition held in Rhode Island. Hailed (by ESPN) as a huge success, the Games, originally planned to be biennial, were quickly rescheduled to be held every year. In 1996, marketers promoted the remonickered X Games as "sheer unadulterated athletic lunacy." (See pictures of the World Bog Snorkelling Championships...
...exports has taken its toll on China's industrial heartland - southern Guangdong province. Jing Ulrich, chairman of China equities at JP Morgan in Hong Kong, believes some 60,000 businesses closed in the region, and the government estimates about 10 million migrant workers are unemployed. The downturn has put "huge stress on the job market," says Credit Suisse economist Dong Tao, which "could cause some social unrest. That's my worry...
...world, but it's not necessarily the most Internet friendly. Park Dae Sung, 31, an unemployed blogger now finds himself in hot water for allegedly being "Minerva," a web guru who posted his thoughts on the state of the economy and the government's economic policies. Those thoughts generated huge attention in Korea, particularly following Minerva's prediction that Lehman Brothers would fail. Those musings, however, have not sat well with Seoul. Now Park has been taken into custody by the government and, according to his lawyer, faces a maximum five-year prison sentence for allegedly spreading false information with...
...York City Job Cuts Hit Urbanites Hard Cities and their surrounding communities account for 90% of all U.S. income, according to a new report from the Conference of Mayors, which is why its forecast of huge job losses in these regions is so troubling. Leading the job cuts are New York City, which is expected to undergo more painful layoffs in the financial sector, and Los Angeles, where depressed home prices have ravaged the local economy. The report also predicts that the overall unemployment rate in metropolitan areas will rise above...