Word: rosee
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While Silicon Valley has yet to recover from the dotcom bust, other parts of the state's economy are booming, including tourism, hotels and construction. The number of housing permits issued rose 4.4% from January to October. The defense industry, which lost 150,000 jobs with the end of the cold war in the early 1990s, has begun to grow again as a result of the wars in Afghanistan and Iraq. In the past four years, defense investment in California has increased 44%, and last year the state got $30 billion in military contracts, much of it in high-tech...
...savings of $120,000, started the company. Ma did just about everything himself, from designing websites to mopping the floor. Tencent's break came in 1999, when it launched its QQ instant-messaging service. Today, despite competition from Yahoo! and Microsoft, QQ boasts 74% market share in China. Profits rose 44%, to $40 million, in the first nine months of this year. But Ma hasn't abandoned his tech-geek lifestyle--except for one thing: "I don't sweep the floors anymore," he says with a laugh. --By Michael Schuman/Hong Kong
...success at TCL has mirrored China's rise. After economic reforms took hold about 1980, Li noticed the popularity of imported tape recorders. With government investment, he helped form what he says was China's first cassette-tape company. As incomes rose, telephones caught on, and Li's company became China's biggest phonemaker. Black-and-white TVs came next, in 1981; color in 1992. Today TCL is China's second biggest producer of mobile phones, and Li wants to become No. 1 in air conditioners. But competition remains fierce among Chinese electronics firms. To stay ahead, Li last year...
...office may crimp your lifestyle in more ways than one. Researchers at the State University of New York at Stony Brook say the heat from a laptop computer--when used on the lap--can disrupt sperm production and affect fertility. Scientists found that scrotal temperatures in 29 men rose more than 4°F after an hour of laptop-computer use. Increases of more than 1.8°F have been associated with reduced fertility in previous research. Talk about an occupational hazard...
...setbacks. She overexpanded Santander's operations in Latin America during the 1990s, then left to form Internet and investment companies. Since Botín joined Banesto two years ago, the bank has gained some 150,000 new customers, and in the first three quarters of 2004, profits rose 12%, to $532 million. At Santander, which just took over British bank Abbey National, Botín is giving Spain's macho banking world a run for its money. --By Samuel Loewenberg/ Madrid