Word: inc
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Dates: during 1990-1999
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...Angeles outfit has its own aspirations. It recently agreed to sell energy at wholesale to a black church-sponsored organization called Revelation Energy Resources Inc., which will retail the electricity nationwide--and thereby give new meaning to the term black power...
Recall the Flavr Savr, a tomato bioengineered to ripen on the vine and last months on the shelf. It might have been a huge moneymaker if only the thing had tasted like a tomato. Its maker, Calgene Inc., traded above $20 a share in 1992, but the stock subsequently rotted to $5, and Monsanto Co. has offered to buy the company for $7.25 a share...
That is by no means the most devastating loss stemming from a biotech failure in the '90s. Centocor Inc. fell from $60 to $5; Xoma Corp., from $32 to $1; Synergen Inc., from $73 to $4--all because of hyped septic-shock drugs that didn't work. Inject those babies into your 401(k), and you'll never retire. And these aren't isolated cases. Viren Mehta, a biotech expert at Mehta and Isaly, keeps track of biotech bombs. He says there have been 14 major disasters this decade. But even if you avoid specific product failures...
...reached a four-year high. Following the cloning news out of Scotland, investors indiscriminately bid up stocks of cloning companies. Shares of PPL Therapeutics of Edinburgh, which helped fund the sheep-cloning research, jumped 16% in a day. There have been some genuine commercial successes, such as Biogen Inc.'s drug Avonex, approved last year to treat multiple sclerosis. Still, a dangerous froth is forming. "During the next six months you're going to see quite a few disasters," predicts Evan Sturza of Sturza's Medical Investment Letter...
JOELLE ATTINGER, an executive editor of Time Inc., works to find ways to get stories developed by the company's magazines onto television, specifically CNN. The first result of her efforts is a weekly newsmagazine show called IMPACT (Sundays at 9 p.m.). Anchored by CNN's BERNARD SHAW, the program will include a weekly feature produced with TIME journalists. For the premiere, Attinger introduces a segment on cloning. The collaboration between the two staffs, she hopes, "will enrich both the magazine...