Word: asianized
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Dates: during 1990-1999
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...business it began with: making measuring devices. "Sentimentally, it was a very hard decision," says CEO Lew Platt--not least because "I spent more than half my career in measurements." But measuring devices had come to account for only 17% of HP's volume, and a collapse in Asian markets turned them into a drag on overall profits. Those now come mainly from computers and related equipment, but HP got into that field as a kind of sideline and, with its attention divided, has long been regarded as trailing more innovative rivals. "We fell behind in the early days...
...another. Besides spinning off parts of their businesses, Hewlett-Packard and Rockwell International are carrying on more traditional--and in Rockwell's case, quite drastic--cost-cutting programs in remaining operations. Tommy Hilfiger has not only adjusted quickly to a changed marketing mix but also shifted garment production into Asian plants, where labor costs are lowest...
These strategies do not tell the full story behind this year's profit rebound. The Asian turmoil that burned Hewlett-Packard, Rockwell and many other U.S. companies in 1998 has yielded to a weak recovery that is at least less profit-destroying than a continued collapse. Contrary to all predictions, the American boom has not only rolled on but also speeded up. And marketing errors such as Mondavi's are relatively easy to recover from in an atmosphere of rising incomes and free consumer spending. But even if the 1998 profit lag was an aberration, as many economists think...
...proclivity, in the board's opinion, is simply wrong: there is no inflation threat scary enough to push the Fed into drastic action. Prices did spike abruptly in April, but that, says Clough, was due largely to a speculative rise in industrial commodity prices that "has already lapsed." Though Asian countries are starting to recover from the crisis that knocked demand and commodity prices so far down in 1998, recovery has been too weak, in the view of board members, to sustain the early-spring increases...
Coming from a quiet, structured family life to a wonderfully unstructured and often loud college life, my first weeks at Harvard were a time of frenetic activity, rushing from the intro meeting of the South Asian Association (SAA) to the first rehearsal of the Toscanini Chamber Orchestra, shopping about 10 classes (it took me about three tries just to find Harvard Hall, no small building), and trying to meet as many people as possible only to realize I had forgotten their names only half an hour later--just as they probably had forgotten mine...