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...Karen Ho got a job on Wall Street. The student of anthropology, who would later go on to get her Ph.D., was fascinated by how even in the midst of an economic boom, corporate downsizings were rampant - and how each time a company announced a major layoff, its stock rallied. What she found from her perch at Bankers Trust - and later in interviews with people at firms such as Morgan Stanley, Merrill Lynch, Lehman Brothers, Goldman Sachs, JPMorgan, Salomon Brothers, Kidder Peabody and Lazard - was that it wasn't just an ideological commitment to boosting shareholder value that drove decisions...
...staged a public revolt last weekend, few people were paying attention to one of the most far-reaching proposals being considered as part of overhauling the health-care system: a dramatic expansion and redefinition of the Medicaid program. Redefining who is eligible for Medicaid would be one of the major means by which lawmakers hope to achieve universal health coverage - which is one of the reasons that governors, whose budgets are already straining under the program's growing costs, are so wary of the idea. "It depends on what's being proposed," says Pennsylvania's Ed Rendell, a Democrat. "These...
...Beijing's leaders may also see China's own currency, the yuan (also known as the renminbi), as a possible alternative to the dollar. There are indications that China intends to make the yuan a greater factor in international trade and investment, a development that, if successful, would have major implications for the global financial system. HSBC economist Qu Hongbin believes that the yuan could become one of the top three currencies in the world by 2012, with some $2 trillion in trade transacted in the Chinese currency each year. "The internationalization of the renminbi has become a leading item...
...make the yuan a fully convertible currency. Laurence Brahm, a China expert and author of the new book The Anti-Globalization Breakfast Club, seconds this view. Though Brahm believes that China has a long-term goal of making the yuan a top-tier global currency, he says that the major reforms needed may have to wait until new leaders come to power. "During the administration of [President] Hu Jintao, a conservative leadership, I don't think they want to do anything that is too reformist," Brahm says...
...price-performance equation," says Mohit Arora, senior director for India for J.D. Power market research. According to Pawan Goenka, president of Mahindra & Mahindra's automotive business in Mumbai, "The challenge is to make the economics work in a price-sensitive Indian market." For electric cars, "performance and range are major bottlenecks," he says. (Read "Coming to an Ex-Car Dealer Near You: Pickups from India...