11.   Menlow and others will point out that the IPO market is still driven by powerful optimism for the Internet and how it can transform business.

12.   More affordable cargo flights from all parts of the world, with more efficient ground transportation from ports to airports, have transformed the business.

13.   Other independent phone companies have also expanded by gobbling up their peers, large and small, but few have transformed their businesses quite as sweepingly.

14.   So News Corp. has realized that its television business can be transformed into something that is as much a technology network, if it moves fast enough.

15.   These corporate heavy hitters are transforming the business, not just with money but with sound business planning.

16.   Those virtues would transform any business.

17.   Though the stores were losing money, Wolf transformed the business into a thriving national retail chain and put his own name atop it.

18.   Two nearby businesses were transformed into makeshift grieving and counseling areas for families and firefighters.

19.   Paley installed his son, William, as president, who began transforming the business in a head-to-head rivalry with larger rival National Broadcasting Co.

20.   But as times change, new tastes and fashions are transforming the business.