Readers Report
Kicking the Oil Habit
Many geologists think the world is approaching "Hubbert's Peak," the point at which global oil output begins to fall, bringing even greater risk of economic and political dislocation ("What to do about oil," News: Analysis & Commentary, Oct. 29). Greater energy efficiency will buy time to diversify the U.S. energy portfolio with hydrogen and other petroleum alternatives.
Jim DiPeso
Republicans for
Environmental Protection
Kent, Wash.
Contrary to popular belief, Americans do not have the highest standard of living--because we spend so much time stuck in thousands of miles of traffic congestion. Americans are also dying at a high rate in car accidents--42,000 deaths per year.
Europeans spend much more time enjoying life: They have invested heavily in high-quality train systems that move people quickly, safely, and efficiently. Instead of pouring billions of dollars into expanding highways and trying to save a dying airline industry, let's put that same money into changing our great country for the better with a new, nationwide high-speed train network like the Eurostar. It will make all our lives so much better.
Andy Kunz
Miami Beach
Simply shifting U.S. oil dependence from the Middle East to somewhere in Eastern Europe is the wrong answer. Political upheavals will occur in that region as well, again forcing the involvement of the U.S. As a nation, we must embark on an effort to convert to a hydrogen-based economy. For the short term, we must focus on wind power and improvements in oil-efficiency technology. We are bringing in wind power in large-scale projects at 4 cents per kilowatt hour in the Northwest. What energy investment is smarter than that? Oil-efficiency technology may provide 50 times the projected yield of new drilling in the Arctic.
Charlie Knutila
Greenbank, Wash.
The world's most abundant element by far is hydrogen. It's clean and energy-efficient, but there seems to be very little mention in media about how we can turn hydrogen into our main source of energy. By seeking ways to develop energy from hydrogen--even if the process were to take 10 to 20 years--we could further distance ourselves from dependence on the Middle East. That would make our country held less responsible by those who hate us while at the same time making the U.S. a safer place for future generations.
Jason William Dornhoffer
Boston
Turning Gap Around Is a Team Effort
"Gap: Missing that ol' Mickey magic" (The Corporation, Oct. 29) degenerated into an inappropriate personal attack on Gap CEO Mickey Drexler, based largely on unattributed anecdotes and innuendos from former employees. The caricature was hardly representative.
Despite the time Mickey and I, together with other members of our team, spent with the reporter, the story gave scant attention to the openness and candor of Mickey and other executives in admitting our mistakes and articulating what we're doing to move forward. As CEO, Mickey has stated that he is, of course, ultimately responsible for our performance. But he doesn't work alone. Our senior management group shares that responsibility and the determination to return Gap to its normal high standards of performance.
John Lillie
Vice-Chairman
Gap Inc.
San Francisco
Don't Lose Sight of the Real Qwest
Some would have you believe that "On the firing line at Qwest" (Information Technology, Oct. 29) is about old-fashioned analysis and its triumph over shady management. The story talks of "good research" and "sharp-penciled analysis." Aren't [Morgan Stanley Dean Witter & Co. analysts Jeffrey Camp and Simon Flannery] these the guys who brought you recommendations [including] WorldCom, Broadwing, Akamai Technologies, Loudcloud, and Exodus Communications? They brought to the fore some material issues, but in my opinion, they have a lot of work to do to regain their credibility.
Bill Dierker
Columbus, Ohio
As a Qwest shareholder, I am deeply disappointed by the stock's performance, but I am very pleased that these analysts, instead of being promoters, are asking the hard questions and uncovering aggressive accounting methods. I suspect the objective, critical view of Qwest's reporting practices is still relatively rare on Wall Street. I sincerely hope [these] actions represent the future of the Wall Street analyst community.
Erik L. Johansson
West Hartford, Conn.
Qwest CEO Joseph Nacchio seems to have exercised a tremendous number of stock options at $5.50 and sold stock in the high-$30-to-low-$40 range. I thought options were to reward the officers for improving the company and thereby benefiting the stockholders. I suggest all stockholders check the way these rewards are being used.
Harry Buch
Harkers Island, N.C.
The Odds Aren't in This Traveler's Favor
Unlike other publications that have been publishing editorials rationalizing why it's O.K. to profile Arab-looking people while claiming it's not the same as "driving while black," BusinessWeek and Joan O'C. Hamilton called what's happening to people of South Asian descent what it is: plain bigotry ("A shadow in the valley," e.biz, Oct. 29).
In the past month, U.S. passport in hand, I have made the dreaded trip to the airport several times. I still marvel at ticket agents telling me with a straight face: "Random checks may be conducted." I have played the lottery for 10 years, and my number has never been "randomly" selected. Wouldn't you know my luck with the airport search when traveling alone: 100%!
Richard Ramlall
Reston, Va.
A Novel Approach to Terrorism Insurance
Rather than continuing to cut "aid" to countries such as Egypt, Israel, and Pakistan (among others), in hopes that they will safeguard U.S. interests, we should have them put their money where their mouth is--as shareholders in a federal entity set up to provide terrorism reinsurance to U.S. insurers ("Give insurers a break but not a free ride," News: Analysis & Commentary, Oct. 29). The federal government would hold the only voting share--thereby controlling receipts and disbursements--while the other (nonvoting) shareholders would receive quarterly dividends based on the market-based success of this terrorism reinsurer. As a result, these shareholders would have an interest in preventing terrorism in the U.S.
John Gatlin
Washington
September 11: The Soul-Searching Continues
Two letters in Readers Report of Oct. 22 (relating to "The roots of resentment," Special Report, Oct. 1) suggest that the U.S. has been generous in its treatment of poor countries. Not so. Data available from the Foreign Policy Assn. show that U.S. aid to undeveloped countries has been a smaller percentage of U.S. national income than from any of the other developed countries--many of them much smaller. In view of our high per-capita income, it should be the other way around.
Jetson E. Lincoln
Montclair, N.J.
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Copyright 2001 , by The McGraw-Hill Companies Inc. All rights reserved.
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