Word: businessmen
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Western Europe's most substantial challenges, however, are economic readjustment and realignment. As in the U.S., old industries like steel, coal mining and shipbuilding are going out of business. Unlike the U.S., Western Europe has been slow to find high-technology replacements. Businessmen must cope with extensive bureaucratic controls and high social welfare costs, the legacy of postwar obsession with creating economic security for all citizens. Says Henry Ergas, an economic analyst at the Paris-based Organization for Economic Cooperation and Development, an association of 24 industrialized countries: "Americans are finding some of the answers in some body's garage...
Coke's 500 U.S. bottlers felt the wrath of consumers most directly. The bottlers, who are mainly independent businessmen, take syrup sold by the company, mix it with carbonated water, and ship the finished product to stores and other vendors. They are thus the brand's local distributors. Some recalled being stopped on the street in recent weeks by angry and argumentative Coke drinkers. "The consumer resented the fact that we put a flavor out there and said. 'This is what you're going to like,' " observed Frank Barren, corporate secretary of Rome Coca-Cola Bottling in Georgia...
...eyes of Indian businessmen, the biggest difference between the two countries is China's modern infrastructure?basic commercial necessities such as roads, airports and electricity powerplants. When an Indian tech executive returns from China, "he's so stunned by what he's seen that he usually can't talk for the first two weeks," says Rajesh Rao, the CEO of Dhruva Interactive, a Bangalore-based electronic-game development company. Businessmen like Rao worry that the Chinese are planning for the next 10 years in Shanghai, whereas Bangalore?whose roads are filled with potholes, and whose traffic is a mess...
...realized that it had to start overhauling the economy. Many in Bangalore now worry that there is a new economic crisis looming: China. This fear may well prove to be baseless and in time, China could become a vast new market for Indian software companies. For now, though, Indian businessmen like Premji and politicians like Chidambaram are tactically using the Chinese threat to turn up the heat on those who are blocking reform. In a country where politicians and bureaucrats still use shibboleths accumulated over a half-century of socialism to obstruct progress, the word China works like a charm...
...looked last week, there was a major car company in crisis. Britain's MG Rover was the worst off. On Friday, with its already-meager sales sliding, its cash depleted and its last hope for an 11th-hour rescue by a Chinese buyer seemingly dashed, the four Birmingham businessmen who owned the outfit handed it over to administrators from accounting firm PriceWaterhouseCoopers. Some 6,000 workers at Rover's Longbridge factory in Birmingham fear for their jobs, despite British Prime Minister Tony Blair and Chancellor of the Exchequer Gordon Brown racing to the plant, promising a massive aid package...