Word: bustingly
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...INVENTORY MANAGEMENT Factories led the economy down, but recent reports show the sector growing for the first time in 18 months. New-economy thinkers once believed technology-driven controls could so precisely measure supplies that there would never again be a boom-bust cycle. Timely information and fast delivery would prevent managers from overstocking. The problem is that all the inventory information in the world can't help a company with a poor forecast. Tech firms built fiber, microprocessors and servers as if clients would never get enough, and the overbuilding led to a bust...
According to the International Labor Organization, at least 1 million children are working as prostitutes in Asia. Sexual slavery feeds on destitution, and Asia, home to two-thirds of the world's extreme poor, offers plenty. The bust and stagnation of the past few years only made the problem worse. The ILO estimates that the flesh trade has mushroomed into a major regional industry, accounting for 2% to 14% of GDP in Indonesia, Malaysia, the Philippines and Thailand...
After 20 years of nonstop growth, the furniture industry is on a downhill slide. According to the American Furniture Manufacturers Association, shipments dropped 10% last year, to $23 billion. Chains such as Montgomery Ward, Heilig-Meyers and Sears Homelife went bust, flooding the market with discounted furniture. "It was as bad an industry downturn as we've experienced in our careers," says Joel Havard, vice president of equity research at BB&T Capital Markets. Amid that wreckage, Mitchell Gold is opening its very first store, a self-contained shop at ABC Carpet & Home, the upscale New York City clearinghouse...
...Plenty of problems remain, including bust or near-bankrupt corporate giants such as Daewoo Motor and Hynix Semiconductor. But thanks to restructuring efforts forced by the crisis, the economy is proving to be surprisingly resilient, mature and self-assured?especially so considering that the international investment community classifies Korea as a developing country. Consumer confidence is booming, and a survey of 600 companies last week showed business confidence is at a record high. Stocks seem to be weightless?the benchmark Kospi stock index has soared 75% since Sept...
...government of President Kim Dae Jung gets pretty good marks on the progress so far. But bureaucrats at the Finance Ministry are still reluctant to let big companies go bust (although the collapse of the Hyundai group and Daewoo show you can't be too big to fail anymore). The government also must push ahead with the sale of state-run banks and corporations. An ongoing strike over the privatization of the Korea Electric Power Co. shows how tough that will be, especially with local elections in June and a presidential vote at the end of the year...