Word: steeles
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Vince Kosmac of Orlando, Fla., has lived both sad chapters of outsourcing--the blue-collar and white-collar versions. He was a trucker in the 1970s and '80s, delivering steel to plants in Johnstown, Pa. When steel melted down to lower-cost competitors in Brazil and China, he used the G.I. Bill to get a degree in computer science. "The conventional wisdom was, 'Nobody can take your education away from you,'" he says bitterly. "Guess what? They took my education away." For nearly 20 years, he worked as a programmer and saved enough for a comfortable life. But programming jobs...
...Mankiw tried to explain before he was shouted down by fellow Republicans, structural change like this is inevitable and recurring. It's just that the transition can be ugly. New England was a textile center until that business went south, to the Carolinas, then east, to China. Software supplanted steel in Pittsburgh, Pa. In both places, high-tech companies later occupied some of the old mill buildings. Now some of those companies' programmers have gone the way of loom operators and steel rollers...
...Steel-and-glass office buildings and sprawling corporate campuses are taking shape to handle the flood of new businesses and employees. Major players like IBM, Oracle and Intel are here, as are promising start-ups. At Sony World and Bose, techies are landing lucrative service gigs. It may sound like yesterday's Silicon Valley, but it's very much the present--in the high-tech mecca of Bangalore...
...encountered an international community that did not trust him or his intentions. The trouble he had persuading the United Nations to endorse an attack was caused, in part, by his repeated attacks on essential international agreements, from opposing the International Criminal Court and the Kyoto protocol to imposing illegal steel tariffs. The irresponsible decision to withdraw from the ABM treaty and pursue missile defense two years ago was but one stitch in Bush’s pattern of offending the rest of the world in pursuit of some dubious objective. And now that...
...same scenario of "too much, too soon" applies to a range of commodities. At Anyang Iron & Steel, one of China's biggest steel producers, the company's vice chairman, Wu Changxun, points to a tremendous dirt expanse outside the factory. Workers are erecting a new foundry there that will more than double the plant's output capacity. It is slated to provide part of the 50 million tons in increased capacity expected nationwide by 2005. "Banks are offering us loans even without our asking," says Wu. That money will have to be repaid. Letting extra capacity sit idle...