Word: teche
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...graduates live. IIT grads include venture capitalists Vinod Khosla, Kanwal Rekhi and Yogen Dalal; former McKinsey managing director Rajat Gupta; Vodafone CEO Arun Sarin and 35 of the top 600 executives at GE. Silicon Valley couldn't run without them, and India's booming tech economy has opened up another world of opportunity. "You've almost got too many choices," Immelt said in a speech to the group on Friday. Spend some time in the world of IIT, and engineering almost feels - well, glamorous...
...will take more than a CSI: Palo Alto to reverse that trend. Engineering in the U.S. needs a rebranding. IIT went through such a transformation after the tech bubble burst in 2001, when engineers - Indian and American alike- were being laid off by the thousands. That's when some of the school's most prominent alumni decided to turn IIT into a brand combining the brainpower of engineering with the excitement (not to mention the big money) of entrepreneurship, by playing up the accomplishments of IITans like Umang Gupta, CEO of the web services company Keynote and employee...
...That fact may be ominous - the infamous tech bubble burst the next year - and China's shares, now priced at about 45 times earnings, are definitely expensive. But there are enormous differences between Shenzhen and Shanghai now, and the NASDAQ back then. The companies offering their shares to the public in China are not small, technology oriented start ups. They are, for the most part, big state owned companies - oil and gas, mining, banks - most of which have already gone public in Hong Kong, seeking to tap the broader international capital markets. China's two main equity markets...
...supply of shares coming to the mainland's markets - regional banks such as the Bank of Nanjing are next in the IPO line - are starting to put downward pressure on equity prices. As far as the authorities are concerned, a bit of a correction is probably welcome. But as tech investors in the US learned in 1999, corrections have a way of becoming something worse - and $50 billion can become a lot less than that in a hurry...
...several Hurricane Center forecasters say Proenza is being alarmist and a distraction to their work. They argue that QuickScat is hardly as critical to their analyses as Proenza claims, given all the other high-tech measuring tools and methods at their disposal. As a result, they say, Proenza has needlessly divided the Hurricane Center staff and has called into question the forecasting acumen of those who disagree with him. "Bill has poisoned the atmosphere" and "doesn't respect the staff," Center forecaster James Franklin told a press conference today. Proenza is trying to shrug off the criticism, characterizing the rift...