International -- Readers Report
Maytag's Lloyd Ward Proves Nothing Is Impossible (int'l edition)
"The Saga of Lloyd Ward" (People, Aug. 9) was excellent and thrilling. There are many things for a budding executive to learn from the successful story of the ex-captain of Michigan State University's basketball team. The life of Mr. Ward has once again proved that nothing is impossible in the world.
M.S. Suresh Kumar
Riyadh, Saudi ArabiaReturn to top
A Big Board IPO? Japanese History Argues against It (int'l edition)
"Big Board: Look before you list" (Editorials, Aug. 9) is a good summary of issues the New York Stock Exchange should deal with before it goes public as a profit-making company. Starting in 1878, Japan's stock exchanges were launched in profit-making form and remained so until shortly before the end of World War II. Stock of the then-Tokyo Stock Exchange was listed on its own market. Of all stocks on the list, the Exchange's was most actively traded because it was a convenient means to bet on the entire stock market.
But trading methods allowed speculation and manipulation. Self-regulation and government oversight were taboo. Finally, stock exchanges in Japan were reorganized on the U.S. model in 1949.
The NYSE functions well, with a good balance among different constituents, coupled with adequate oversight by the Securities & Exchange Commission. Becoming a profit-making body for the purpose of raising funds away from the constraints of membership is an idea that should be considered twice.
Chiba, JapanReturn to top
Fired Up over Gun Control (int'l edition)
"Under Fire" (Cover Story, Aug. 16) suggests to me that amidst the soul-searching the American people are going through regarding gun control, one cornerstone that seems nonnegotiable is that Americans' right to bear arms, in the Bill of Rights, may itself be wrong.
If the U.S. is the democratic and capitalist leader of the world, doesn't that suggest an ability to change its own character? Hasn't America matured past the point of having to rely on market forces to bring about change? Why can't regulation of an industry be a function of self-examination instead of economic attrition? Fully 73% of Americans favor tougher gun controls. Start giving the people what they want by correcting a mistake made many years ago: Amend the Bill of Rights.
Sydney, AustraliaReturn to top
The Shipping News: Don't Overlook Malta (int'l edition)
"A sleepy port wakes up...to a sea of natural gas" (Spotlight on Egypt, Aug. 2) gives your readers news of interesting developments in Port
Said. Yet while commenting on the efficiency and competitiveness of Mediterranean ports in Italy, Cyprus, Turkey, and Israel that could affect or be affected by this new development, the writer fails to mention the Malta Freeport, which has been in operation since 1988.
Because of its strategic central position in the Mediterranean, being 93 kilometers south of Sicily and 290 km north of Africa, Malta has established a good reputation. In 1998, no less than 1,071,669 containers have been handled by the Malta Freeport, and the number is on the rise.
Malta Chamber of Commerce
Valletta, MaltaReturn to top