How country music went from rural roots to a multinational billion-dollar business.

Mr. Thomson notes that of the 4,000 publicly traded companies with $30 million to $1 billion in annual revenue, only 30 become billion-dollar businesses each year.

And in Florida, where many of the selected yearlings should be racing next season, nobody knows if the state's billion-dollar betting business went into limbo on July 1.

They might even be underpaid, given the billion-dollar business sports has become and the nature of owners, many of whom are generous only when they have to be.

And Xerox thinks in terms of billion-dollar businesses.

In Silicon Valley, the innovation capital of our country, startups have become billion-dollar businesses by leveraging the power of the Internet.

"Underwear is a big billion-dollar business, but it's still one of those issues people snicker about," Mr. Graham said.

In an effort to stabilize the billion-dollar business, the Dinkins administration has proposed revamping the city's taxi regulations, some of which date to the 1930's.

He has written several books about the billion-dollar business of College Sports Inc.

Bodybuilding has spawned billion-dollar businesses in magazines, videotapes and, especially, dietary supplements and drugs.