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...main reasons bad old habits have lingered is that despite the gains of the past decade or so, the same few families and business groups continue to control the region's economy. The 14 clans that commanded El Salvador's vital coffee industry, for instance, have morphed into eight conglomerates in recent years, but they still have a choke hold on the country's finances. In Honduras, such tycoons as José Rafael Ferrari and Freddy Nasser monopolize sectors like broadcasting and energy - and, say analysts, continue to exert incredible influence on the government. Little will change, says Rosenberg, unless...
...Wild elephants, not loggers, are the rangers' main problem right now. Crops planted by returning farmers are proving irresistible to two local herds. At a farm nearby, elephants have trampled banana and cacao trees, toppled betel-nut palms and left jumbo-size footprints in the fishponds. There, at the forest edge, humans and animals must coexist. Each morning, the calls of gibbons compete with the calls to prayer from nearby village mosques...
...View from Main Street Re TIME's story on wall street [nov. 9]: Out in the real world, professionals who construct bridges, buildings and even houses must be licensed, to encourage adherence to stringent technical, legal and ethical standards. Ignoring the rules can result in losing one's job. Why? Because if these things are constructed poorly, people will get hurt. Since Wall Street is in the business of "engineering" markets in order to make the greatest possible amount of money, why shouldn't they also be licensed and held to similar standards? Mark Revis, Moreno Valley, Calif...
...coast. For example, in late 2008 Shenzhen-based cell-phone maker ZTE announced it would invest $880 million in manufacturing and research facilities in Xi'an that will ultimately employ 26,000 people. Hybrid-car maker BYD, also headquartered in Shenzhen, has turned Xi'an into one of its main manufacturing centers, with almost all of the cars sold to Chinese consumers. Earlier this year, the company launched a $585 million plant expansion to produce another 300,000 cars in Xi'an. In all, domestic investment in the city surged 31% to $8.1 billion in the first three quarters...
...fashion and animal spirits. A trio of academics revisited a famous 1934 paper that debunked the predictions of Dow theorist Hamilton and found that, adjusted for risk, Hamilton's predictions beat the market. MIT's Andrew Lo, a top finance scholar, has made technical analysis one of his main research topics. So maybe there is something to it. Or maybe this is just evidence of a social wave in action...