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...terrorism briefing was delivered by Richard Clarke, a career bureaucrat who had served in the first Bush Administration and risen during the Clinton years to become the White House's point man on terrorism. As chair of the interagency Counter-Terrorism Security Group (CSG), Clarke was known as a bit of an obsessive--just the sort of person you want in a job of that kind. Since the bombing of the U.S.S. Cole in Yemen on Oct. 12, 2000--an attack that left 17 Americans dead--he had been working on an aggressive plan to take the fight...
While the big leagues struggle to increase attendance and deal with steroid-use allegations, a looming strike and the botched All-Star game, the minors are enjoying the best season of their 101-year history. Minor-league attendance has risen 29% over the past nine years, far outpacing the majors' 3% growth. Last year the minors drew 38.8 million fans, the largest total since 1949. This season could be a record breaker as minor-league owners, seeing profits in a business that had stagnated for decades, have opened new stadiums and offered every conceivable promotion to attract fans. Indeed...
...business model has given investors a hearty appetite for Whole Foods stock. The share price of the chain of 135 "supernatural" stores, based in Austin, Texas, has risen 125% over the past two years and more than 750% since the chain went public in 1992. Analysts marvel that Whole Foods' mature stores (those open more than five years) average 6% annual revenue growth, vs. 1.5% for the typical chain. Annual sales per square foot--a key measure of a retailer's health--are about $650 at Whole Foods, compared with about $450 at many conventional supermarkets. Says analyst Andrew Wolf...
Wild Oats may have to play catch-up for a long time. Whole Foods' sales have risen more than 20% for 10 straight quarters, and the chain has 21 new stores in development and plans for a total of 400 by 2010. The firm is steadily building its private-label brands, from bottled water to organic macaroni and cheese...
...true that home values have been rising faster than family income for years, a trend that can't last. Since 1990, family income has grown 3.8% a year while home prices have risen at a 4.5% clip. The median home now sells for 2.8 times the median family income--up from 2.6 in 1990. But this ratio has historically ranged from 2.5 to 3, so the current reading puts housing squarely in the fair-value zone...