The Finnish government and major creditors of bankrupt shipyard Waertsilae Marine Industries Oy agreed in principle to form a new company to complete most of the troubled shipyard's backlog of 15 ships. The new company will attempt to limit the shipyard's losses, participants said. "The situation is that the bankruptcy court will get out of the shipbuilding business. Everything will be taken over by the new company," said Christian Andersson, executive vice president of Oy Waertsilae, former parent of Waertsilae Marine. Once its ownership is finalized, the new company will open talks with state-appointed receivers to buy or lease Waertsilae Marine's shipyard facilities. Subcontractors will be offered a settlement and a swift transition to new management is expected to avert an exodus of skilled workers from Waertsilae Marine's two big shipyards, government officials said. Under an accord signed yesterday, the government and Union Bank of Finland would become major shareholders in the new company, each injecting 100 million Finnish markkaa ($23.5 million). Oy Waertsilae is to contribute 200 million markkaa, most of it as subordinated debt, and take a minority stake in the new company. Customers holding contracts for Waertsilae Marine's undelivered ships are expected to subscribe most of the remaining 170 million markkaa in share capital, government officials said. Waertsilae Marine's biggest creditor is Miami-based Carnival Cruise Lines Inc. Carnival, which has three ships on order from Waertsilae Marine, presented claims for $1.5 billion damages in the bankruptcy court this week. Waertsilae Marine's bankruptcy proceedings began Tuesday in a Helsinki court.

Question: "After ownership is finalized, what will be the offer to the Subcontractors?"

Response: "Nothing"

A: no

IBM opened a sprawling and sophisticated semiconductor factory here on Wednesday that cost more than $2.5 billion to build and equip, the largest single capital investment the company has ever made. The factory, which opens as the computer chip business is in a slump, is a costly and risky move for IBM. But it is also an expression of confidence by the company that it can remain a technology leader in the highly competitive global semiconductor industry, and a commitment that the best place to execute that strategy is in upstate New York. IBM is an exception among computer makers in that it still invests heavily in research to advance the design, manufacture and materials used in semiconductor chips. It is spending more than $500 million a year on semiconductor research and development. The factory will produce a wide range of specialized semiconductors used in everything from the largest mainframe computers to cell phones and video-game consoles. The new plant is part of IBM's push to gain a strong lead in chip-making beyond the personal computer business, where Intel and East Asian chip producers hold the advantage. "The core of our strategy is to lead in technology and attack the high-performance segments of the market," said John Kelly, senior vice president in charge of IBM's technology group. An advantage to having the semiconductor fabricating factory here, Kelly explained, was that it was very close to its research laboratories in nearby Westchester County, N.Y. To stay ahead in advanced chip technology, he said, moving innovations out of the labs and into the factory as fast as possible is crucial. "What we call the lab-to-fab time should be as close to zero as possible," Kelly said. "If our strategy were anything but to be on the leading edge, we'd have put the plant in Asia." The new factory, which will begin normal production early next year, will employ about 1,000 people.

Question: "Where was the largest single capital investment IBM made have been built?"

Response: "Upstate New York"

A: yes

You know that friction also causes heat. Think about when you rub your hands together. It is friction that makes them warm. But why does this happen? Friction causes the molecules on rubbing surfaces to move faster. Faster moving particles have more heat energy. Heat from friction can be useful. Can you think of other places where you might find friction? Friction also lets you light a match. Heat from friction can also cause problems. It can cause a car to overheat. To reduce friction, oil is added to the engine. Oil coats the surfaces of moving parts. This coating of oil makes them slippery. When things are slippery there is less friction. Have you ever seen a sign that says, slippery when wet? This too has to do with friction. Water, like oil, can reduce friction. The wet surface may allow your shoes to slide more easily.

Question: "Why do rubbing your hands make them warm?"

Response: "Moving hands"

A:
no