Word: lumber
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...denting Ebbers' net wealth. Yet he tapped WorldCom's cash reserves for hundreds of millions of dollars in loans to buy even more stock plus a huge ranch in British Columbia, a Georgia yacht builder and a minor league hockey team. (He still owns a golf club and a lumber business in Mississippi.) To keep WorldCom afloat, prosecutors charge, Ebbers allegedly resorted to a combination of hype, hidden expenses and phantom revenue to inflate earnings by all those billions and perpetuate the illusion that WorldCom was worth its lofty share price. When the hoax finally emerged, the stock went into...
...DIED. MARGE SCHOTT, 75, philanthropist and controversial owner of the Cincinnati Reds; in Cincinnati. Under Schott, a lumber magnate's daughter who gave her St. Bernard dogs the run of the ballpark, the Reds won the 1990 baseball World Series. But Schott was twice suspended from running the franchise after making insensitive remarks, including slurs against black players and praise for Adolf Hitler. ("Hitler was good in the beginning," she told a newspaper, "but he went...
...major suppliers to put RFID--radio-frequency identification--on all cases and pallets by 2005. BNSF already uses a first-generation RFID system to track railcars with shipments for Wal-Mart and plans to take the system to the next level, even if that means tagging every piece of lumber it hauls. "Whatever interests Wal-Mart fascinates the hell out of me," says Campbell. But BNSF is taking the technology beyond the Wal-Mart initiative to use RFID to identify deterioration in rail equipment--eliminating mechanical accidents before they happen...
Everything here is done on a scale that would make Paul Bunyan feel right at home. The electric-powered shovels that mine the sands are several stories tall. Dozens of giant yellow earthmoving trucks lumber in and out of the mine carrying tons of freshly excavated sand. The largest ones weigh as much as 400 tons--more than 200 times the size of the average car. The trucks use huge tires that cost $55,000 each. The drivers sit so high above ground that one says piloting these behemoths is "like driving a two-story house from the second-floor...
...small waterfall that cascaded down through ancient rocks. It was as if all the birds of the earth went there to splash and drink fresh water. Some 15 years later, I went back to those roots. Alas! The land had been destroyed for slash-and-burn farming and lumber harvesting. Even my beautiful small waterfall was gone. I wondered where the birds had gone. Were they dead? I can only conclude that the Johannesburg 2002 summit on sustainable development will soon be nothing but a historical footnote, just like Stockholm 1982 and Rio 1992. VICTOR OSA-ASEMOTA Madrid...