Word: boom
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...years foreign brands have been put off by this country's high import taxes (up to 50% for watches) and its shabby retail environment (there are no upscale shopping streets and few malls). But today India is experiencing a mall-building boom, perhaps a response to the sharp rise of newly affluent consumers?many under age 25. Analysts at Bain & Co. predict that the luxury market could grow 25% a year over the next three years?a far cry from the days when it was the exclusive preserve of Cartier-bedecked maharajas...
Since that long boom ended in 2001, though, griping and whining have been ascendant. Greenspan was a bubble blower, the main criticism goes, a man whose lax monetary policies encouraged excess and speculation. What's more, he failed to thwart George W. Bush's demolition of the budget surpluses built up in the Clinton years. These complaints were steadily gaining in volume, thanks to the collapse of a mortgage-lending boom that began on Greenspan's watch, when the man jumped into the fray in mid-September with The Age of Turbulence, a new book about his life...
Entwistle threw that logic out with last night's room service. He initially recruited the majority of his investment-banking team from other Goldman offices. They had in common a commitment to make Goldman a player in India's boom. All but two employees are of Indian descent, but they're as likely to have come from New York City, London or Tokyo as Bangalore. Their boss can rely on "a team that knows Goldman's particular systems and culture inside and out," Moniz says. "They only have to get up to speed on the local market...
...life chain was a reminder of what had changed and hadn't, not just in the media but in the audience and the world. Yes, O.J. 1 was a freak show and a painful racial divider--and two people died-- but it was also an artifact of that peacetime boom between the falls of the Berlin Wall and the Twin Towers. Then, at least, we had the luxury of wondering whether we didn't have bigger things to worry about. Today we know we do. And we watch--and cover--O.J. anyway, a dozen years older, not necessarily wiser...
...that can plague them for months. More than anything else, perhaps, it is the human tide sweeping Beijing that is remaking the city, with migrant workers from tiny villages in every corner of China standing wide-eyed on the streets, lured by the hundreds of thousands of jobs the boom has created. Then there are those from even farther afield--venture capitalists from San Francisco, artists from Brussels, chefs from Rome, legions of gimlet-eyed businessmen from Taipei, Berlin and Tel Aviv--all drawn to make fortune or fame or maybe just to say "I was there the year that...