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...cashmere sweater has completed an epic transformation. First, hair must be gathered during the molting season from the inner coat of special goats, the majority of which live in the coldest regions of China and Mongolia. Then the fiber has to be shipped to factories experienced in its production--the best are in Italy and Scotland--where it is spun into yarn, dyed and woven. The scarcity of the raw material has historically ensured a high price for the final product, sealing cashmere's reputation as a luxury fabric...

Author: /time Magazine | Title: Cashmere On The Cheap | 12/15/2003 | See Source »

Over the past several years, China has ramped up its textile production and reduced prices (igniting trade tension with the U.S.). Many of the cashmere garments, however, are not made wholly of the downy undercoat of the goat, where the fibers are long and fine. Occasionally these fibers get mixed with hairs from the outer layer, which are short and thick. This translates into less expensive sweaters, but also ones that are coarse and scratchy. They don't drape as sinuously or maintain their shape as well, and they don't provide the lifetime commitment most people seek from their...

Author: /time Magazine | Title: Cashmere On The Cheap | 12/15/2003 | See Source »

Here's the IPO pitch: invest in a company with no sales, an operating loss since inception and an idea for a product. It's not Silicon Valley calling--it's Tinseltown. Civilian Capital is selling shares of a movie, set to star Ethan Hawke, that starts filming next spring. Financing films through public partnerships is nothing new, but with Billy Dead (the movie's working title) Inc., the ante is much lower than normal. Shares are pegged at $8.75, with a 100-share minimum. The IPO, which is set to end Feb. 10, aims to raise $7.9 million...

Author: /time Magazine | Title: Hollywood's IPO | 12/15/2003 | See Source »

Empedocles doesn't expect his product to reach market until 2006. With $70 million in venture funding from Arch Ventures, Polaris and Lux Capital, along with multimillion-dollar U.S. government contracts from the Defense Advanced Research Projects Agency, the National Science Foundation and the National Institutes of Health, the 35-person company should make it. With persistence and that old variable, luck, firms like Medis, Hydrogenics and Nanosys could see a big payback for giving power to the people. The way Lifton sees it, that would be one happy song. --With reporting by Chris Daniels/Toronto, Unmesh Kher/New York and Chris...

Author: /time Magazine | Title: Energy: More Power To You | 12/15/2003 | See Source »

...forgiven for sounding a bit like the announcer in that classic comedy sketch who praises a new miracle foam: Shimmer is a floor wax! And a dessert topping! Get Lipson going, and the 36-year-old co-founder and president of Imagen will gush about how her product can distinguish faces in a crowd, recommend makeup, diagnose diseases and spot imperfections on a circuit board. What Lipson's six-year-old company--a spin-off of the Massachusetts Institute of Technology (M.I.T.)--really does is make software that can find subtle similarities and differences in images of, well, just about...

Author: /time Magazine | Title: Identification: Digital, P.I. | 12/15/2003 | See Source »

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