Word: auto
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...comments on that score so far are hard to read. "Naturally it is our goal to increase the long-term share price," he told the newspaper Handelsblatt last month. "But in our sector the money returns six or eight years after the investment. That's why the auto industry isn't in fashion on stock markets these days." Is that clear...
...takeover bid. For these reasons VW's share price languishes at 1997 levels. "The feeling is that the management in place has tended to give low priorities to investors, having several other constituencies that come higher up the attention screen," says John Lawson, who follows the auto business at Schroder Salomon Smith Barney in London. Adds Ekkehard Wenger, an economist at the University of Würzburg and a vocal corporate gadfly in Germany: "Volkswagen doesn't exist to serve shareholder value, it exists as part of the patronage structure of Lower Saxony...
...warned that the company may be taking the process too far, so that the cars are starting to look alike. "With the Volkswagen Passat and Audi A4 in some European markets, people know they can get a cheaper car that's bigger by buying the Passat," says Gregory Melich, auto-industry analyst at Morgan Stanley in London...
...crowd, school-age children stood side-by-side with workers still wearing uniforms from businesses such as Ivelle’s Auto Seller and Apex Striping...
That kind of thinking sets Haier apart from most Chinese firms. Consider Haier's blitz of the U.S. small-fridge market. A few years ago, Haier noticed that American college students wanted locks on fridge doors and that hotels wanted an auto-defrost feature. The big manufacturers weren't delivering. So Haier did, and added style to the mix, making iceboxes in different colors and producing a sleek stainless steel unit. Haier's fridges aren't the cheapest. But the firm has captured 40% of U.S. sales and forced manufacturers like Sanyo to play catch...