Only a slight breeze blew across the plains of Inner Mongolia on a recent afternoon, but the giant turbines at the Huitengxile Wind Power Field were spinning steadily. This facility, 200 miles northwest of Beijing, has 550 turbines churning out enough juice to power a small city, and inside a monitoring station, plant manager Zhang Jianjun points to a wall chart showing the 11 different suppliers of the high-tech windmills. Four are Chinese companies, but when Zhang is asked to pick his favorite, his nationalism is trumped by a desire for quality. "General Electric," he says, citing its reliability. "I'm excited when all of the turbines are working."
What do a $2,500 Tata Nano, a $250 Acer Netbook, and a $1,000 General Electric handheld electrocardiogram device have in common? According to Vijay Govindarajan, a professor at Dartmouth's Tuck School of Business, all three are examples of "reverse innovation"—a concept that's becoming the next big driver of globalization. "Historically, American companies innovated in the U.S. and took those products abroad," says Govindarajan, who coauthored a Harvard Business Review article on the idea with Dartmouth colleague Chris Trimble and GE chairman Jeff Immelt in October. "Reverse innovation does the opposite: companies now innovate in poor countries and bring the products to the U.S."
Bo Feng, 32, is an unlikely mogul of the Internet age. He was born in China and didn't use a telephone until he was 14. A decade ago he worked in Chinese restaurants in the Bay Area while studying to be an art-film director. Then, through a friend, he met Silicon Valley power broker Sandy Robertson, cofounder of the investment bank Robertson Stephens. Feng convinced Robertson that despite his lack of business experience, his knowledge of China's culture would make him useful to American moneymen looking for a toehold in the world's most populous market. In the blink of an Internet minute, Feng was transformed from dumpling dispenser to venture capitalist.
Jack Welch has always admitted that his guilty pleasure is reading the gossip pages. Now the former General Electric chairman's exploits are giving New York's tabloids unusually juicy fodder. Jackpot: GE tycoon's scorned wife seeks half his fortune, trumpeted a headline last week. The troubles began last fall when Welch, 66, was interviewed by the editor of the Harvard Business Review, Suzy Wetlaufer, 42. Soon afterward they commenced what management theorists might call an unusually friendly "horizontal integration." Jane Welch, 49 and Jack's second wife, learned of the relationship in December. The rest of the world found out this month, when The Wall Street Journal tucked news of the affair into a broader story about the turmoil it caused at Harvard. Last week brought a new excuse for high-minded publications (like NEWSWEEK) to air this laundry: the Welches say they're divorcing. So if you choose to read on, it's because you're interested in the legal angle, not the tawdry stuff. Right?
believe buying a house today is a good investment--or else the housing market might be worse than it already is.Daniel McGinn is a national correspondent at NEWSWEEK and the author of "HOUSE LUST: Americas Obsession with our Homes."
When scientists inside the MIT Media Lab began toying with "electronic paper" more than a decade ago, much of their enthusiasm focused on single killer app: a portable, paperless newspaper. E-newspapers would be a huge environmental win, eliminating the need to pulp trees and burn gasoline delivering the traditional folded parcels to readers' driveways. Like many technologies, however, e-paper has been slow to take off. In the past year, since Amazon introduced its Kindle electronic reading device, thousands of Americans have experienced the pleasures of e-books—but for most people, e-newspapers aren't yet a reality.
It's cocktail hour in the lobby of the Element, a new hotel just off the highway in the Boston suburb of Lexington. Khaki-clad business travelers, corporate ID cards hanging from belts, nurse free beers and nibble nachos, staring at laptops or skimming newspapers. A vacationing couple talks quietly at a table. This hotel, which opened in July, is the first of a new chain being launched by Starwood—owner of the Sheraton, Westin and W brands. Designed by the same folks who created W, Element features a hip design and loads of green features; Starwood claims it's the most environmentally friendly hotel on the planet. But aside from the bamboo planters and water-efficient plumbing fixtures, competitors are paying close attention because Starwood has a history of revolutionizing the hotel business—and it says it plans to have 250 locations open within five years. To size up this new competition, partway through happy hour three suit-clad visitors walk into the lobby and approach the front desk. They tell the manager they're from InterContinental Hotels Group, which owns Holiday Inn, and they'd like a tour. It's not an uncommon occurrence. Ten Marriott executives recently checked into Element for an overnight stay—and even chairman Bill Marriott has stopped by for a look. Starwood's team says it's happy to show competitors around—after all, there are few secrets other hotel pros couldn't glean simply by booking a room. "It's a friendly competition—there's space for everyone," says Brian McGuinness, the Starwood vice president who oversees Element.
people want today: speed, convenience and choice."And it sure beats pulling listings out of the fax machine.Daniel McGinn is a NEWSWEEK national correspondent and the author of "HOUSE LUST: Americas Obsession with Our Homes."
anything clear, it's that many members of the populace they hope to govern made some pretty shaky decisions, too.Daniel McGinn is a national correspondent at NEWSWEEK and the author of "House Lust: Americas Obsession with our Homes"
was to blame and how our antiquated, overloaded electrical grid leaves us open to future crises or terror attacks. Daniel McGinn and Keith Naughton tote up the (thankfully limited) economic damage. Jerry Adler, the author of some of our most