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...Call Me the Idiot I am one of the antireform liberals Joe Klein disparages in "Village Idiots" [Jan. 11]. While the value of the health care reform bill is debatable - 30 million people may get coverage that may or may not be worthwhile - I can't understand why anyone would not be outraged that the government is forcing them to buy private insurance from an industry that routinely pays CEOs seven figures while denying sick, dying people coverage. How is that not outrageous? Ezra Abrams Newton, Mass...
...JPMorgan Securities in Hong Kong, estimates that if Google loses a quarter of its China traffic, Baidu will reap a 6% gain in revenue; the gain would be 12% if the number of eyeballs logging onto Google shrinks 50%. For the last full year completed, 2008, Baidu generated $468.8 million in revenue and earned $153.6 million. Though they haven't yet reported full-year 2009 results, Baidu's stock soared from just shy of $390 per share immediately prior to Google's dramatic announcement to more than $465 per share, before retreating slightly on Jan. 19. Google at the same...
...developed one of the first search engines in the mid-'90s - only to see Walt Disney acquire the company and shift its focus. (Yes, the Mouse House could have been Google before Google.) So in 1999, he and a friend did what Silicon Valley entrepreneurs do: they raised $1.2 million in venture capital, added another $10 million to that the next year, and started up Baidu back home in Beijing. (Read "Google and China: Silicon Valley Is No Longer King...
...company turned its first profit in 2004, and went public on the Nasdaq the following year, raising more than $100 million in the process. It was by far the most successful Internet IPO since the dotcom bubble burst in 2000. One of its earliest investors, in fact, was Google - before the company entered the China market in 2006. It paid $5 million for a 2.6% stake in Baidu in 2004. But Google sold its stake in Baidu for about $60 million two years later, and entered the search business in China on its own. It was game...
...Australia will mark the one-year anniversary of the Black Saturday bushfires, the worst natural disaster in the continent's recorded history. The deadly combination of scorching temperatures and dry northwesterly winds from central Australia's parched desert caused fires that spread over 1 million acres (413,000 hectares), killing 173 people. Over 2000 homes were reduced to ash, dozens of towns were emptied of their populations and native wildlife was cremated on a devastating scale. The intense heat boiled 200,000 trout alive in their ponds outside of Marysville, the town worst hit by the fires. (See pictures...