"Paper or plastic?" is a question that is slowly going out of style. According to this San Francisco Chronicle article, the reusable grocery bag market is exploding. "If you asked me two years ago, there were dozens of reusable bags. Now there are a hundred or more," said Vincent Cobb, founder of ReusableBags.com, an online store that sells grocery totes. Companies like ChicoBag, My Own Bag and Olive Smart bags are making reusable bags easier to use and more aesthetically pleasing.

At the same time, major supermarkets across the country are manufacturing and selling reusable bags with their own logos and at lower prices than many of the smaller, independent companies.

Despite the "bigger is better" mentality for the super-rich in 2007, analysts are predicting the wealthy will downsize in the New Year. According to this Wall Street Journal article (subscription required), growing concerns about inequality and the environment, coupled with the fallout from the debt-market crisis, will create a year of moderation for the super-rich in 2008. The article says to expect buzzwords like "mass luxury" and "exclusive" to be replaced by "authenticity" and "sustainability." But that doesn't mean the rich will stop spending altogether. That's because they have more of a financial cushion than average consumers, and receive the majority of the nation's wealth and income growth.

Part of the expected "downsizing" effect will likely motivate the super-rich to live in green-friendly eco-mansions with drought-averse gardens. And they'll still fly private jets, but they'll run them on new "green" programs. Other trends expected to catch on after Jan. 1 include a slowdown in the prices for art, wine, vintage cars and other collectibles, in addition to more millionaires seeking out unusual experiences instead of Gucci bags and Bentleys.

The MIT Clean Energy Entrepreneurship contest is looking for the next generation of energy entrepreneurs. $200,000 cash is the top prize being awarded by the Massachusetts Institute of Technology, NSTAR Electric & Gas Corporation and the U.S. Department of Energy. "The ultimate goal of this contest is to find innovative solutions to transform today's energy systems into tomorrow's sustainable energy future," said MIT President Susan Hockfield in a press release. The competition, which will be held on the MIT campus, is open to both student and non-student teams of all experience levels. All teams will receive mentoring and exposure. The semifinalists and finalists will present and defend a business plan before a panel of clean energy industry experts and VC judges.

Entries are due by February 15, 2008. The final prize will be awarded in May. Click here to register.