Word: stockely
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...Bangkok feels high and dry compared to Jakarta. This year, in January, when the rainfall is heaviest, the U.S. embassy in Jakarta advised its citizens to stock up on food and water, keep cell phones charged and gas tanks at least three-quarters full, and exercise caution when driving through "small rivers." It's the sort of travel advisory you'd expect for negotiating an untamed wilderness, not a city of more than 12 million souls. Damage from a deadly 2007 flood cost Jakarta half a billion dollars - ironically, roughly the same cost as an unfinished project designed to prevent...
...grossing documentary of all time, shifted his focus to the financial meltdown in Capitalism: A Love Story. Provocative and wildly ambitious, it expands beyond the housing and banking crises of the past year into an epic of malfeasance: capital crimes on a national scale. With enough corporate villains to stock a hundred melodramas, who is the hero? The writer-director-star himself. There he is, attempting to make a citizen's arrest of AIG executives and parking an armored truck in front of one bank to reclaim the billions it received in government largesse. Of course the film...
Mission accomplished--so far, at least. In the face of a financial shock probably worse than the stock-market crash of 1929, massive government intervention averted a second Great Depression. Yes, we still got the worst economic downturn the U.S. has seen since. But while there are surely lots of potholes and wrong turns ahead, the economy--both in the U.S. and worldwide--appears to be in the early stages of a rebound. We have decisions made by government officials to thank for that...
...Hong Kong last week, Metallurgical Corporation of China, a steel mill builder that helped construct Beijing's famed Bird's Nest Olympics stadium, stunned the stock market when it ended its first trading day 12% below its initial public offering price. The following day, an IPO by China Lilang, owner of the country's largest brand of men's clothing, also flopped, ending the day down nearly 1%. To think that less than three months ago, even lightweights like herbal shampoo manufacturer Bawang and furniture maker Hing Lee debuted with double-digit first-day gains...
...seems bad timing, then, for the Shenzhen Stock Exchange to be launching the country's first Nasdaq-style board in October. After dithering for nine years, mainland regulators finally approved the bourse's proposal for a Growth Enterprise Market (GEM), which aims to help technology and other innovation-oriented start-ups get off the ground. Of the 150 companies that have applied to launch initial public offerings, 22 have won approval. Last week, the first batch of 10 enterprises in electronics, software, pharmaceuticals and biotechnology started accepting subscriptions from domestic investors (foreigners are excluded). (See pictures of China's infrastructure...