As the information age intensifies, secrecy becomes important. Steve Jobs of Apple recognizes this truth. Apple Computer Inc. obsessively enforces a strict secrecy policy. In early 2004, for example, Hewlett-Packard cut a deal to repackage Apple’s iPod digital music player and sell it with H-P label. Even though they were partners, Apple did not tell H-P about the new iPod models until the day before they were introduced. Apple rigidly compartmentalizes itself so that even its own employees don’t find out about coming products. It has fired and later sued workers who leaked information.
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In this tumultuous financial market there are many unusual events. One of the most striking is the Legg Mason Value Trust, run by Bill Miller. He has had an excellent record, beating the S&P 500 every year for the past 15 years. In 2008, however, he lost in the neighborhood of 60 percent. His methods were not revised to fit a new financial environment.
“Electricity will be the main shortage of the future.” – Dr. Richard Smalley, Nobel Laureate.
The electric industry in the United States is in terrible shape. We should expect local and regional brownouts and blackouts to become common occurrences “within five years,” reports a senior faculty member from Carnegie Mellon University. Few utilities want to take political, regulatory or financial risks. In such an environment the long-range planning cycle has been broken. It is almost impossible to decide what to build and at what scale.