Word: budapest
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...head of a major Toronto-based investment group, has raised $80 million for the new First Hungary Fund. In addition, Sarlos and a group of other Hungarian expatriates bought a 50% stake in Scala Co-op, Hungary's largest grocery chain, and a 50% share in Budapest General Banking and Trust. Zbigniew (Dick) Niemczycki, 43, a Warsaw-educated engineer who moved to the U.S. in 1977, has returned to Poland as an executive with SerVaas, an Indianapolis investment firm. The company's joint ventures in Poland include a fishing fleet and a home-building enterprise, as well as Hanna-Barbera...
...wage rates, an educated labor force and a pent-up market of nearly 140 million consumers in the heart of Europe. Companies from Turin to Tokyo are setting up joint ventures with local firms, and as eager executives flock to the region, such grand hotels as the Budapest Forum and the new Warsaw Marriott buzz with high-stakes deals. "Learning how to invest profitably in Eastern Europe is the hot new game of the 1990s," says Paul Horne, chief international economist for Smith Barney...
...counts -- better still on both -- opens up other possibilities. Staying in private homes is now not only legal -- it was prohibited under communism for ideological reasons -- but also encouraged by the state. ROOM TO LET signs are springing up all over Hungary; private landlords sometimes even + approach foreigners at Budapest railway stations, offering rooms. While prices are generally low in Western terms -- from $10 to $30 a night -- standards vary. A visitor may end up in a turn-of-the-century house with high ceilings or a grubby room in a tenement block. Since the booking system remains fairly rigid...
Apart from the well-trod tourist trail around the bloc, which leads to such places as the Ghetto Memorial in Warsaw, the Old Town Square in Prague and the neo-Gothic parliament building on the banks of the Danube in Budapest, the cities have some surprising things to offer. Even the region's grim industrial agglomerations are worth seeing, if only to judge for yourself how badly communism failed...
...listen to good jazz in Warsaw, take in a performance at what is possibly the best puppet theater in the world in Prague, and go to an opera in Budapest for about what it would cost for an intermission drink anywhere in the West. In Cluj, the capital of the medieval kingdom of Transylvania in Romania, three decades of Ceausescu misrule have emptied shops and condemned people to a dreary life in ill-lighted, poorly heated apartments. But the Ceausescu era did not kill the arts. At a recent Rachmaninoff concert performed by the Cluj Philharmonic Orchestra, the pianist...