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...largest firms that survived the crisis. Could one argue that financial firms need to get bigger, not smaller? There is no evidence that large, multiplatform banks are more efficient or able to sustain risk than smaller banks. When I was on Wall Street, we used to have at least 20 firms that competed in the market. My book is the story of how Wall Street started as a group of small firms, and how those firms maneuvered to survive and prosper, but in the process, most either failed or were swallowed up by others. The net result has been...
...problem is the principles that Apple has formally announced make no sense on the iPad platform. You could at least make a plausible case that Flash and multitasking were too resource-intensive (and thus battery-draining) for mobile-phone usage, just as you could make the case that a phone operating system needed more security scrutiny for third-party apps. But these arguments no longer make sense when you're talking about a computing platform with 10 hours of battery life, a blisteringly fast CPU and ambitions to replace your laptop. It's fine for Apple to be secretive when...
...Under pressure from the E.U., France also said it would seek to bring its deficit to under 3% by 2013, although that is based on optimistic economic growth levels of at least 2.5% annually. Meeting those targets gets even more challenging with the tax cuts that President Nicolas Sarkozy keeps handing out - most recently to businesses worth over $10 billion annually - coupled with his call for all E.U. countries to continue pumping their economies with stimulus spending to foster growth. Even Germany, the E.U.'s most disciplined member, will see its 2009 deficit of nearly 4% rise to almost...
...initiative, for now at least, is more about what NASA plans to cancel than what it plans to pursue. The six-year-old Constellation program, which had been focused on developing new boosters, Apollo-like orbiters and a 21st century lunar lander, all with the goal of making long-term stays on the moon possible, will be scrapped, after $9 billion and a single flight of the Ares 1 booster last October. The longer-term goal of venturing out to Mars is being tabled along with it. (See pictures of the Ares rocket...
...military and commercial launchers. And with 37 flights in the past 36 months, it clearly knows its business. The problem is that ULA rockets were not built for the trickier job of launching people, and not a single one of them is crew-rated. It will take at least four years to make the necessary adaptations according to one industry insider, and that's assuming no delays or cost overruns. Never assume that...