Word: buyer
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Dates: during 2000-2009
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...weren't comfortable," says Gold. "We couldn't have a dog. We weren't even allowed to sit in the living room." That helped him appreciate the pleasures of an overstuffed sofa. He met Williams in 1986 in New York City, where Gold spent six years as a furniture buyer for Bloomingdale's and Williams worked as a graphic designer for Seventeen magazine. They both saw the same opportunity: a stuffy furniture industry just waiting to be turned upside down...
...access to middle-class American households and has impressed industry watchers. "It's quite unusual to have captured them to the extent that he has," says Donna Warner, veteran editor of urban-style bible Metropolitan Home. These relationships come partly from connections Gold made during his stint as a buyer: when Pottery Barn decided to start carrying furniture, a friend there made sure its buyers knew about Gold and vice versa. He has also consistently backed the right horses, judging from the start which stores could take him where he wanted to go. "We smelled early on that these were...
...Japanese companies always prefer to sell to other Japanese companies," says Dean Yoost, CEO of a PricewaterhouseCoopers division in Tokyo that advises on mergers and acquisitions. The foreigner is the buyer of last resort. That means the price is often right: Ripplewood paid $130 million for Seagaia (with a commitment to invest $100 million)--a total that is only 8% of the $3 billion it cost to build the resort, which opened in 1994. But Ripplewood faces a turnaround task that is the corporate equivalent of raising the dead...
...help find a buyer for the failed Long-Term Credit Bank, Japan's government erased much of the bank's bad debts and promised to take back any that turned south through the spring of 2003. Collins hired Masamoto Yashiro, 72, who ran Citigroup's highly successful retail operation in Tokyo, as CEO. LTCB was born again as Shinsei Bank, which was appropriate: shinsei means rebirth...
That attitude is changing, says Ruby Gottlieb, a media buyer for Horizon Media, because advertising firms like hers now realize baby boomers not only are more numerous than young adults but--at the top of their careers, with mortgages paid off and kids grown up--also have more spare change: "I think there's a tremendous spending power and amount of products that they're open to." Magazines for those 50-plus are also getting a boost because prescription-drug firms, whose biggest market is seniors, are redirecting ads from doctors to consumers...