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...course, young firms are also more likely to flame out and vaporize their jobs - but job destruction is, perhaps surprisingly, par for the course no matter what the size of a company. Even in the recession, about 4 million people a month have been landing jobs. We just don't feel the impact of that because more people have been losing them, leaving us with fewer employed people overall. That constant churn can be jarring for individual workers, but it represents one of the key strengths of the American economy: flexibility. That's certainly true for established companies...
Earlier this month, divers took to the polluted waters of Hong Kong's Rambler Channel, searching for the body of a drowned 7-year-old boy. A week earlier, the boy and his mother, a 39-year-old divorcée and welfare recipient, were seen plunging 17 meters to the sea from the Tsing Yi Bridge, near the city's container port. The mother's body was quickly retrieved, but except for a red schoolbag, there was no trace of the boy until March 4. On that day, his body was finally hauled out of the water, and Hong...
...called filicide-suicides are not a new phenomenon in East Asia, but Hong Kong's relatively high number - there have been at least 15 since the start of 2008 - has raised alarm. "Three in one month is a critical warning sign," says Paul Yip, director of the Centre for Suicide Research & Prevention in Hong Kong. In the U.S., murder-suicides predominantly involve spouses killing partners before taking their own lives. But in Hong Kong, Yip says, at least 50% of cases involve the death of a child. (See "Hong Kong Roundtable: Ten Years, Five Views...
...starting to seem as if the Olympic gods have it in for Russia. A month ago at the Vancouver Games, the Russian team had its worst showing ever at a Winter Olympics, leading the head of the country's Olympic Committee to resign in disgrace. Now Moscow's big chance to redeem itself - hosting the Winter Games in Sochi in 2014 - is shaping up to be an even bigger embarrassment. In the past few weeks, a number of problems have exposed the deep rot at the heart of Russia's Olympic foibles: a shortage of funds, mismanagement and widespread public...
...despite all the problems, Putin insists that everything in Sochi is fine. "So far, both the timeline and the financing [are] going according to plan," he told RIA Novosti last month. For him, the stakes are enormous, as he made it his personal mission two years ago to win the Olympics for Russia. He even delivered a speech to the International Olympic Committee in English - a first for a Kremlin leader before a Western audience - and promised members that the Sochi Games would be "safe, enjoyable and memorable." He even guaranteed that there would be snow. With the Olympics...