Word: semiconductor
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...associated with Philips. Sprawling, complex or plodding seemed an apt description. "They'd sell something I didn't even know they had," says Scott Geels, analyst at Sanford C. Bernstein in London. "And I wasn't the only one." Kleisterlee took a carving knife to Philips' abstruse portfolio. The semiconductor business--where even his own father labored--as well as other component businesses got the chop. "In the economic reality of today, you have to make a choice," Kleisterlee says. "We focus on the brand; we focus on marketing; we focus on downstream. We are very, very close...
...proximity to work. The old Songjiang, the neighboring town, is heavily industrial, with a string of modern factories - many foreign-owned - that runs for miles. One friend, a guy I play basketball with at a gorgeous new public sports facility, is an engineer for SMIC, the large semiconductor company that has a plant not far away. This friend - I'll call him Yu Xiang - has a cousin he has visited who lives outside Los Angeles, and says that New Songjiang reminds him of the area. "Now I call my cousin and kid him: 'I'm living in the Valley...
...giant J Sainsbury. Abu Dhabi, like Dubai, a constituent part of the United Arab Emirates, says its Mubadala Development Co. will pay $1.35 billion for a 7.5% share of the U.S.-based private-equity investment firm Carlyle Group, which owns a diverse range of megacompanies, from chipmaker Freescale Semiconductor and nursing-home operator Manor Care to airplane-parts manufacturer Sequa Corp...
...investment, but a reliable one. China and the gulf states, though, are aiming higher. On May 20, the Chinese government said that it was paying $3 billion for just less than 10% of the Blackstone Group, the U.S.'s leading private-equity firm, which owns everything from Freescale Semiconductor to Michaels Stores. The next day, Saudi Basic Industries Corp. said it was buying General Electric's plastics division--the storied operation based in Pittsfield, Mass., where former GE boss Jack Welch earned his stripes--for $11.6 billion...
...soon followed up the blue LED with the first bright green and white LEDs. An LED is a semiconductor that generates light, but very little heat, when an electric current is passed through it. Different semiconductor materials produce different colors; Nakamura used gallium nitride, which generates blue and white light. The resulting LEDs use as little as one-seventh the energy as an incandescent bulb and can last about 100 times as long, up to 100,000 hours. If they were widely used, LEDs could lead to enormous energy savings and carbon-emissions reductions. In the developing world, LEDs paired...