Word: pivotally
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...discussion on the trials of starting new ventures. Panelists included Keith W. Cooper ’83, President and Chief Operating Officer of Carbonite, an online file protection service; Graham Lubie, co-founder of Celarix, an early leader in internet software; and Furqan Nazeeri, founder of several ventures including Pivot, Inc., an instant messaging platform for Wall Street traders...
...clear from Friday's blunt reproach of Tehran by the International Atomic Energy Agency's board. But it's less clear that Obama can convert that diplomatic advantage into sanctions that will curtail Iran's nuclear program. "The question is," says one senior Democratic aide in Congress, "Can Obama pivot [from engagement to sanctions] and succeed in changing conditions on the ground?" Iran is betting he can't. On Sunday, two days after the IAEA rebuke, Tehran approved plans to build 10 new enrichment plants, ordering that work begin immediately on the first five...
...Another China skeptic is Pivot Capital Management, investment manager of the $505 million Pivot Global Value Fund. In an August report, it makes the startling claim that China is not 45% urbanized as the World Bank and other international agencies estimate. That figure could be "understated as much as 20%," says Pivot, "meaning that instead of about 350 million people, only 100 million actually would need to be urbanized...
...This is key, Pivot says, because it indicates in coming years there will be a dwindling in GDP-boosting activities such as construction. China's "industrialization and structural modernization are largely complete," according to Pivot's report. As a result, new investments will end up funding unneeded factories, buildings and roads. He concludes that the country's capital spending boom is unsustainable because it is "outstripping previous great transformation periods" experienced by Thailand and Asia's other tiger economies, as well as Germany and Japan...
...Unlike Chang, Pivot Capital appears to accept China's reported growth in 2009 at face value, but says the "burst in economic activity has been inflated by a front-loaded stimulus package and a surge in credit growth," two drivers that will run out of steam in 2010. "The chances of a hard landing are increasing," the report warns. "The coming slowdown in China has the potential to be a similar watershed even for world markets as the reversal of the U.S. subprime and housing boom...