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Republicans are supposed to be the probusiness party. Yet since 1913 the Dow, excluding dividends, has risen an average of 7.4% annually under Democratic Presidents and only 4.7% under Republican ones, according to Ned Davis Research. Republican Administrations have presided over better gains when you strip out the effects of inflation. But not much better, and by that standard the Clinton years have been bountiful. In his seven full years, the Dow rose an average of 19.5% annually, while inflation averaged 2.5%, giving investors an astounding "real" return of 17% a year. The long-run average, no matter...
...this Napster stuff," says Laughing Colors lead singer Dave Tieff. "At our stage, offering free tracks makes sense. We're trying to get noticed, and promotions like this are a tool." Tieff says sales of the group's independently released CDs (available via the band's website) have risen more than 50% since it won iCAST's contest last month. Of course, Laughing Colors has sold just over 27,000 CDs in all, which is about a tenth of what Britney Spears sells in a typical week...
...denizens of the land of Bush don't appreciate being held up to the nation as a paragon of fiscal mismanagement in a game of political ping-pong. Especially when the ballyhooed $610 million in cost overruns, mainly in social programs for which the demand has risen with the state's booming economy and burgeoning population, aren't a real deficit. In fact, state comptroller Carole Keeton Rylander (a very defensive Republican this week) announced that the state would see an estimated $1.1 billion surplus - more than enough, she said, to pay for the overruns. Sorry, Al, but that...
...computers and high-tech equipment suck up more power--they now account for close to 10% of all consumption--electricity providers can barely keep up. Summer electricity demand in the U.S. has jumped 23% since 1992, while capacity has risen only 6%, so the industry's emergency-reserve capacity has slipped. With communities fighting new construction, very few major power plants have been built in the past 20 years. Yet by one Energy Department estimate, the country needs 1,000 new plants in the next two decades. As Steve Fleishman, an analyst at Merrill Lynch, notes, "The country underinvested...
Here's the crux of the matter: while the cost of health care has risen about 10% a year recently, the cost to small businesses has gone up at about twice that rate. Many owners stop offering coverage or push costs onto employees, who then opt out. Basically, big companies with thousands of employees get better rates because the underwriter's risks are spread out. One catastrophic illness is easily absorbed. But one big-ticket illness in a pool of 10 or 20 people can make premiums unaffordable...