Word: behemothly
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Even after the Orbitz purchase, Cendant is largely a bricks-and-mortar company. The $18 billion behemoth owns Avis and Budget in addition to its real estate and hotel brands, markets time-share properties and organizes information for travel agents, and has a corporate-relocation operation. Prior to the Orbitz deal, it had only a laggard online travel presence with CheapTickets.com and Lodging.com Its main business by far is collecting franchise fees. Pre-Orbitz, online travel produced less than $200 million in revenue, or 2% of Cendant's $10 billion travel segment. Last week Cendant said it would divest...
...haven’t planning and operations already been integrated? Two reasons. First, inertia. Harvard is extremely decentralized, and changing this behemoth is tough. Lacking another motivation like environmental stewardship, little has changed. And second, the up-front costs. Economists now recognize that people often irrationally discount the future; the University behaves similarly, choosing small cost reductions now over large cost savings in the future. The sustainability principles are an attempt to behave rationally—for the University to incorporate into its planning “life-cycle costing,” which simply means considering all the discounted...
...Parliament last week, Neelie Kroes, the E.U.'s incoming antitrust chief, described herself as "a tough girl." She'd better be, if she's to take over from Competition Commissioner Mario Monti in November. Huge cases loom, including one with Coca-Cola, and legal and political challenges by software behemoth Microsoft, which Monti fined a record €497 million in March for allegedly abusing its dominant market position. Plus, the European Court of First Instance seems intent on rolling back Monti decisions; last week, it ruled that the E.U. had been wrong to block an aborted 2000 bid by WorldCom/MCI...
Murthy, 57, is quietly fighting the backlash against outsourcing. "We can't get angry and shout slogans," he says. "If we focus on delivering value to our clients, ultimately we will win." After building Infosys into an outsourcing behemoth, Murthy is now trying to protect the company from its own success. By Aravind Adiga/Bangalore...
...Hamilton, an analyst at WestLB Equity Markets, says Germany may be next: "If you look at Germany, which is a relatively fragmented market, there is significant scope for consolidation." And German banks are sniffing at potential foreign partners. Deutsche Bank, the country's largest, held merger talks with U.S. behemoth Citibank, but the negotiations got nowhere. HVB has held talks with ABN Amro, Credit Suisse, BNP Paribas and Santander, but they all ended without a deal - for now. If Santander can thrive with Abbey, the long-awaited dream of truly European banking might yet come true...