Word: porting
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...aftershocks are not always physical, the damage not always measured in coffins and cracked pillars. Just as the port city of Kobe stirred painfully back to life last week from the quake that killed more than 5,000 people and left 300,000 homeless, a psychological temblor hit the Tokyo exchange. On the blackest trading day in nearly four years, the Tokyo exchange's Nikkei average shed 1,054 points, or 5.6% of value, as investors began to size up the blow Japan had suffered. Among the army of construction crews that moved in to occupy Kobe last week...
...wonder the country as a whole got such a serious jolt. One of Japan's most important industrial and transportation centers had been shattered in the 20 seconds the quake lasted. Aside from the destruction of its port facilities, which served as a gateway for about 10% of Japan's overseas trade, Kobe's trains, its elevated highways and much of its basic utilities lay in ruins...
...producers who supply the steel, glass, concrete, telephones and machinery they need can expect to do well. Japanese investors were also encouraged by the government's decision last week to subsidize up to 90% of the cost of repairing or replacing public facilities like schools, roads, railroads and the port...
...other companies and investors in the U.S. were worried about how the quake would affect their networks. The main risk is in the near collapse of a major export center and container port. Kobe handled 2.7 million containers a year; it was the hub for 31% of all shipments to and from the U.S. ``A lot of goods that normally flow smoothly,'' says Stephen Roach, co-director of global economics at Morgan Stanley in New York City, ``are going through a major bottleneck. This could have ripple effects...
...city of Nishinomiya, nine miles outside the port of Kobe, contains many rooms the same size as those simulators. They tend to be in two-story, traditional wooden houses built in the years just after World War II. The roofs of such houses are heavy blue or brown tile. The walls are a thin lattice of light wood finished with stucco. The effect, says Laurence Kornfield, a San Francisco chief building inspector familiar with the style, is ``a lot like putting a heavy book up on top of a frame of pencils...