Word: low-cost
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...APEC summit in Chile this month. The meeting will dwell on economics, a bone of contention between Washington and Beijing that Bush will have to address. China enjoyed a trade surplus with the U.S. of nearly $99 billion through August, and American industrial lobbies accuse China's low-cost labor force of stealing American jobs. Trade conflicts could strike early, as quotas on China's textile exports will end on Dec. 31. While Beijing is looking forward to selling more silks and underwear, the U.S. still enjoys "surge-protection" clauses that let it restrict imports from China. "We will...
...them. This student body voted last spring to trust the council with a bigger budget to improve the quality of student life at Harvard. Here’s some advice to go along with it: save the big bank for big names, get more creative with large-scale but low-cost, and don’t waste our money on “in between.” If bringing Gaffigan instead of Breuer means last spring’s concert could have been upgraded from Busta Rhymes to Outkast, I’ll take a better show by Outkast...
...AWARDED. To SpaceShipOne, a privately built rocket funded by Microsoft co-founder Paul Allen; the $10 million ANSARI X PRIZE, created in 1996 by MIT graduate Peter Diamandis to make low-cost space travel accessible to the public; in Mojave, California. To win the prize, the rocket had to fly into space and return to earth twice in less than a week. According to SpaceShipOne's designer Burt Rutan, the prize covers less than half of Allen's original investment...
PARKER: Hub-and-spoke networks are not going away. But after some painful consolidation, we will probably have three very big airlines. The country likely can't sustain six low-cost carriers either. If 75% of passengers now travel on the Big Six airlines, I think that will be about 50% within a few years, and the low-fare airline share will rise to take the other half...
...Johnson III, right, cut expenses on five of its index mutual funds. The move, which follows other fee cuts, like the elimination of many funds' sales charges, was a direct swipe at index-fund leader Vanguard Group and a nod to the increasing popularity of exchange-traded funds--low-cost baskets of stock that track particular indexes and trade on stock exchanges. Expenses on the five funds, which are pegged to such benchmarks as the S&P 500 or the Wilshire 5000, are now just 0.10% of assets annually. Fidelity sells the funds directly and through many retirement plans...