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Over the past two decades, France has made major efforts to modernize its economy and change the attitudes of its workforce in order to make the nation more market-friendly and competitive in the age of globalization. But the one place where these changes to France Inc. have failed to take root is the boardrooms of the biggest companies, which in many ways remain the same smoke-filled old-boys clubs they were 50 years...
...Touati notes that this system has gone largely unaltered for 40 years, despite other changes that have taken place in the economy: nationalization, socialization, privatization and pro-market reforms. Grémont says that such enduring élitism is difficult to challenge in normal economic times, which is the main reason some French executives continue to fear that the current global recession could morph into something more serious: a 1930s-style meltdown capable of shaking the entire economic structure to its foundations. Were that to happen, chain-reaction bankruptcies of companies could force the French state to step...
...Eastern U.S. seaboard that calculates plausible, albeit oversimplified, numbers for the increased damage that storm surges could cause. An overall round number, says Hoffman, is a 20% increase. But it would be higher in some areas - as much as 100% - and lower in others. In general, in a place like Louisiana, which is already at high risk, the increase would be smaller, and vice versa for places like Long Island and Connecticut, where the relative rarity of hurricanes makes today's risk to property low, but the potential increase very significant...
...global supply, is one commodity for which China has a vast appetite, yet cannot produce, according to research analyst Mark Matthews of Macquarie Securities. Low-grade electronics manufacturers in Thailand and Malaysia also stand to be beneficiaries. "These two markets are well positioned to take China's place at the lower end of the production network," says HSBC's Wong. (See the best pictures of the week...
...January, it was hard to find any place in the state that was not dotted with Brown signs - even in the storefronts and driveways of Hyannis Port, the fabled seaside hometown of the Kennedy clan. As for the message that Brown's flinty 5-point win sent to Democrats across the country, that was summed up by the winner. "What happened in this election can happen all over America," he declared. "When there's trouble in Massachusetts, rest assured there's trouble everywhere - and they know...