Word: appealable
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...slice of the market. Luxury purveyors like Neiman Marcus, Nordstrom and Bloomingdale's (the only other brand that will stay in Federated's portfolio) have boosted profit margins by catering to the affluent. Discounters like Wal-Mart and Target have captured the bargain hunters. The stores that tried to appeal to a broad middle-income audience, as Macy's hopes to, have struggled. Former No. 1 retailer Sears merged with former No. 1 discounter Kmart to try to right two listing ships. Saks, a luxury icon suffering from mismanagement, misfired in its attempt to go down-market...
...trickiest maneuver will be balancing fashion merchandising with regional tastes. Macy's needs to include national brands like Tommy Hilfiger and Ralph Lauren to pull in traffic but in a mix that will appeal to customers on a local level. "What fashion means in Miami is quite different from Atlanta," Lundgren says. Federated has set up seven new buying offices in different cities to merchandise locally and has installed a national logistics database that allows buyers to distribute merchandise more efficiently; slow sellers are marked down, and popular items are restocked faster...
Even at M.I.T., the U.S.'s premier engineering school, the traditional career path has lost its appeal for some students. Says junior Nicholas Pearce, a chemical-engineering major from Chicago: "It's marketed as--I don't want to say dead end but sort of 'O.K., here's your role, here's your lab, here's what you're going to be working on.' Even if it's a really cool product, you're locked into it." Like Gao, Pearce is leaning toward consulting. "If you're an M.I.T. grad and you're going to get paid...
...first time in decades, however, there's hope that the pause may be ending. Given its bipartisan appeal, the Bush Competitiveness Initiative is likely to pass. Funding won't be easy, given the soaring deficit, but the people who dole out the money are enthusiastic. "I am very, very supportive," Representative Frank Wolf, the House Republican in charge of science funding, told TIME, "and I think the President is going to get what he requested." Sometimes, marvels Alexander, "these things sit for years and then suddenly come together...
...Alan Greenspan ended his 18-year reign as Federal Reserve Chairman last week, yque.com was primed to capitalize on the maestro's legacy--and bizarre pop-culture appeal...