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MAY 17, 2004
Edited by Ira Sager Talk Show "My tax rate is less than my receptionist's." -- Warren Buffett, Berkshire Hathaway Chairman and CEO, on the need to make tax policy fairer Charges For Computer Associates? It's not just former CEO Sanjay Kumar who's on the chopping block as the feds wrap up their probe of accounting misdeeds at Computer Associates International (CA ). The $3 billion software company faces possible criminal indictment on charges of securities fraud and obstruction of justice. CA's board has scrambled to avoid that fate. At the feds' request, it conducted an internal probe that found accounting misdeeds. It has forced out 15 employees, demoted Kumar, and restated earnings. But four executives already have pleaded guilty to obstructing the federal probe, and the initial stonewalling angered prosecutors, say company sources. Legal experts say the feds are pressuring the board to do more. "They're going to have to buy the good will of the government to avoid an indictment, and to do that they'll have to pay a large fine," says Robert Webb, a lawyer with Frost Brown Todd. An indictment could make it difficult for CA to borrow money and would be a severe blow to its already battered reputation. If it is found guilty, CA would be barred from government contracts, which represent about 12% of its business. Neither CA nor the feds would comment. By Steve Hamm   TV Should Use It Or Lose It The Federal Communications Commission is getting tough with broadcasters. BusinessWeek has learned that on May 13 the FCC is expected to consider a rule requiring that TV stations share underused UHF channels with developing wireless technologies, such as Wi-Fi Internet access. The move could set the stage for wireless technology to bring high-speed broadband access to all corners of the country, rivaling services from cable and telecom companies. The FCC's stance is a big change. In 1996 lawmakers gave broadcasters additional airwaves for digital transmissions if they return their analog spectrum after converting to digital. But that transition has been painfully slow, and policymakers haven't held broadcasters to the deal. Broadcasters oppose the move because they say it could interfere with local broadcasts. The FCC is just getting warmed up. It wants broadcasters to go entirely digital by 2009 and return all the airwaves used for analog TV. "It's a dramatic shift that could clear precious air-waves for wireless broadband," says Michael Calabrese, with the think tank, New America Foundation. It's also a bold move in an election year to take on the TV industry. By Catherine Yang  Vapor And Steam Beat Gasoline Environmentalists dream of energy-efficient cars that run on hydrogen, with tailpipes spewing out nothing more noxious than water vapor. But where do you go to fill up with hydrogen? How about any existing service station. There's plenty of hydrogen locked up inside gasoline, and researchers have developed so-called reformers that extract it. But there's a hitch: The reformers take an eternal 15 minutes to produce enough hydrogen to back the car out of the garage. What's needed is a new version of the automatic starter that replaced those antique car hand cranks. Researchers at Pacific Northwest National Laboratory think they have it. The lab is developing an under-the-hood reformer that produces large amounts of hydrogen in only 12 seconds, says chief engineer Greg Whyatt. The key: pumping a gasoline vapor-and-steam mixture through many tiny channels. In those confined spaces, catalysts work their magic rapidly, cracking the molecules of gasoline and water to release hydrogen. Even more magical: The extracted hydrogen has a higher energy content than gasoline. Whyatt says his calculations show that a hydrogen-powered fuel-cell car would get twice the mileage from the same amount of fuel. And since the fuel-cell "engine" would generate clean electricity for the car's electric motor, hydrogen cars could substantially reduce the world's consumption of oil while drastically curbing pollution. Pacific Northwest expects to have a prototype steam reformer ready for Detroit to check out by yearend. By Otis Port Providing For Fido  Affluent pet lovers, take heart: Now you can get help setting up a trust fund to ensure that your pet gets quality care when you pass on. MassMutual is offering estate planning with creature comforts in mind. With pets in one-third of U.S. homes, businesses see opportunity in such planning -- especially with trusts averaging $25,000. Since February, nearly 500 pet lovers have signed up for PetGuardian's $500 trust service, which takes into account factors such as life expectancy and potential chemotherapy costs. After all, some birds can live 80 years, and ensuring that they are comfy could take a lot of birdseed. By Jessi Hempel Lloyd Ward: A Former Maytag Man Finds Work  After doing karate on and off for 25 years, Lloyd Ward knows how to take a blow. That's a good thing: Ward, 56, has been hit pretty hard the last few years. He was forced out as Maytag (MYG
) CEO in late 2000 after results tanked. He resigned as head of the U.S. Olympic Committee in March, 2003, amid allegations of ethics violations. In between, he ran a used-car Web site that went bust.Now he's back in the fight. He's bankrolling Atlanta-based Body-Blocks Nutrition Systems, maker of energy drinks and bars under the N Motion brand. In mid-May, General Nutrition Centers and Rite-Aid (RAD ) will stock its products, fortified with natural compounds such as green-tea extract. Ward, who is chairman, says that unlike those of rivals, his products don't rely heavily on caffeine. He's sure this time he'll prevail. "I know consumer products," he says. Ward is back in his karate uniform, too, after having a hip replaced last May. You have to give him credit for getting back in the fight. By Michael Arndt Why This Screen Is A Scream Laptop screens are for displaying images, but don't be surprised if they turn into speakers, too. Why make liquid-crystal displays (LCDS) do double duty? Because they can produce better sound. Speaker size is a big factor in sound quality, and LCDs dwarf the itty-bitty speakers in laptops. But there's an economic reason, too: Punching speaker-grille holes in laptop cases is a pricey process. Eliminating that operation helps pay for the fancy new technology. To hear the difference in sound quality, you'll have to go to Japan. NEC's LaVie LS900 laptop, which has a speaker screen, is only sold there. But Britain's NXT, which developed the technology, says at least one "name" laptop is slated to show up on U.S. shelves with speaker screens later this year. "This is going to be big," says Roger Kay, an analyst with market researcher IDC. These screens will start in premium laptops, but Kay predicts the technology soon will become commonplace. What turns an LCD panel into a speaker is a little piezoelectric gadget mounted on the screen's backside -- two for stereo sound. Piezo devices convert electricity into motion and vice-versa. Here, electrical signals are transformed into vibrations that generate sound. You can't see the vibrations, but touch the screen lightly and you can feel them. Now that's good vibrations. By Otis Port Qatar: An Oasis For U.S. Colleges  With visas difficult for Middle Eastern students to land, U.S. universities are going to them -- with help from a sweet deal offered by Qatar. It'll cover most of the expense of a U.S. university setting up a satellite school. In all, Qatar's investing $1 billion to import higher ed.Middle Eastern enrollment in U.S. schools fell 10% in the 2002-03 academic year, says the Institute of International Education. "It's an opportunity to reach a student body we're having difficulty reaching," says James Reardon-Anderson, who heads Georgetown University's School of Foreign Services. The school hopes to have an undergrad program in Qatar by 2005. This fall, Carnegie Mellon will open a campus in Doha, Qatar's capital. Cornell began a med program last fall, and both Texas A&M and Virginia Commonwealth have schools. Qatar hopes 70% of the students will be Qatari, with the rest pulled from the region. Note to SAT prepsters: Qatar may soon be a lucrative niche. By Jessi Hempel 
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