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...once again ably edited by senior writer Lev Grossman. One glowing exception to the trend is our invention of the year. We chose the Ares I rocket not only because it's a marvel of engineering but also for a symbolic reason: it's a link between a horrific past (the V-2 rocket used by Germany during World War II) and an optimistic future, in which we reclaim the dream of traveling to other planets...
...employees tax credits to pay for health care [Nov. 9]. This is the best way to retain the benefits federal employees receive and more equitably distribute them. I regularly see how resources are wasted and mismanaged. Patients must make an appointment to receive basic medical attention that in generations past could have been attended to by an RN either over the phone or in the office. Calls for urgent, same-day appointments are often referred to civilian emergency rooms, thereby incurring astronomical fees. I see over-the-counter medicine dispensed in ridiculous quantities. These benefits are necessary, and our military...
...green coaches far outshine other vehicles in eco-efficiency. When you combine passenger occupancy with mileage per gallon, bus travel is four times as energy-efficient as car or air travel. Which helps explain its robust growth in a down economy. At MegaBus, sales have grown 60% in the past year...
...average price-earnings ratio of nearly 19, higher than the long-term historical average of 15. But basing stock values on 2009 data is inappropriate. This year saw the bottom of the worst recession since World War II. What is relevant for determining stock values are future earnings, not past earnings. Next year's operating earnings for S&P 500 companies are projected to average $74 a share, less than 15 times earnings; early estimates for 2011 are at $85 a share, 12.5 times earnings. Indications are that stocks have room to run, especially when interest rates and inflation...
...past decade has certainly been painful. But history is emphatic that long periods of below-average performance are followed by periods of above-average returns. Stocks still have substantial upside potential and will remain the best asset for investors' long-term portfolios...