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Commercial banks

Emerging Technologies and Mega-Mergers Shape the Economy

Strategic Insights

— 2 min read

Technology developed by Argonne National Laboratory and a Russian lab has led to the creation of biochips that can decode genes within seconds. This advancement may be used to diagnose patients with mutations that cause cancer, multiple sclerosis, and Alzheimer's disease. Meanwhile, in the financial sector, a merger between Firstar Corp. and Star Banc Corp. has taken place, with the former's 800 local employees unlikely to face layoffs due to the lack of geographic rivalry. Furthermore, the Illinois Department of Employment Security has forecasted significant job openings in the early 2000s, with over 230,000 jobs needed to be filled in 1999 and 2.3 million by 2006.

Key Takeaways:

  • Motorola, Packard Instrument Co., and Argonne National Laboratory are collaborating to develop biochips that can decode genes within seconds, with potential applications in cancer, multiple sclerosis, and Alzheimer's disease diagnosis.
  • The merger between Firstar Corp. and Star Banc Corp. has created a financial giant with assets exceeding $7.2 billion, with minimal impact expected on Firstar's 800 local employees.
  • The Illinois Department of Employment Security has identified systems analysts, computer programmers, electrical and computer engineers, financial whizzes, and counselors as high-demand jobs in the early 2000s, with over 230,000 positions needed to be filled in 1999.
  • The company behind the Microsoft Windows operating system has agreed to pay $5 million to settle a trademark infringement suit over the name of its Internet browser software, Internet Explorer.
  • Lisle residents are organizing against the proposed arrival of a Meijer superstore, citing concerns about the impact on their community.

Statistics:

  • The biochips developed by Argonne National Laboratory and a Russian lab can decode genes within seconds.
  • The Firstar Corp. and Star Banc Corp merger has created a financial giant with assets exceeding $7.2 billion and a combined workforce of over 10,000 employees.
  • The Illinois Department of Employment Security forecasts 230,000 job openings in 1999 and 2.3 million by 2006.
  • Microsoft will pay $5 million to settle the trademark infringement suit over the name of its Internet browser software, Internet Explorer.
  • The Meijer superstore planned for Lisle, Illinois will span 200,000 square feet.

Sources:

  • Motorola Inc. and Packard Instrument Co. (no date provided)
  • Argonne National Laboratory (no date provided)
  • Illinois Department of Employment Security (no date provided)
  • Star Banc Corp. press release (no date provided)
  • Microsoft Corp. press release (no date provided)
  • Dhiren Rana vs. Microsoft Corp. court documents (1995)
  • Dan Culloton, "Lisle Residents Battle Meijer Superstore" (no date provided)

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