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...prices down by exploiting workers in Third World countries. Like other multinational groups that came under fire in the '90s, the company in 1997 instituted a code of conduct, which all suppliers must sign, and maintains inspectors in countries where its products are made. Still, watchdog groups continue to cite problems, including excessive overtime and lax health-and-safety regulations. Says Carl-Henric Enhorning, director of H&M investor relations: "We believe the best way to have a positive impact in developing markets is to be there and to be buying so that they have money to live...
...Citing Bush's honorable discharge, military legal experts dismiss the two accusations as rhetoric. "No military lawyer would say what's being alleged here is either desertion or AWOL," says Eugene Fidell, president of the National Institute of Military Justice. But Bush's Guard record is nevertheless emerging as a Rorschach test in the 2004 campaign. Supporters cite the record as evidence of the Commander in Chief's military background and skill: he did well on an officer-qualification test, won praise from fellow pilots for his flying prowess and received an honorable discharge. Opponents see it as a laundry...
Edwards milks what credentials he does have, mentioning that he serves on the Senate Intelligence Committee and never missing the chance to cite his meeting with Pakistani President Pervez Musharraf, who is conveniently one of the leaders George W. Bush couldn't name four years ago. In fact, he has more experience than candidates Carter, Reagan, Clinton or the present incumbent had, but in the post-9/11 world, that still may not be enough. All Edwards can do is fall back on faith that experience is not the key to winning. "Voters don't elect a resume," he told...
There's barely a speech by President Bush that doesn't cite the glories of human freedom. It's God's gift to mankind, he believes. And in some ways this President has clearly expanded it: the people of Afghanistan and Iraq enjoy liberties unimaginable only a few years ago. But there's a strange exception to this Bush doctrine. It ends when you reach America's shores. Within the U.S., the Bush Administration has shown an unusually hostile attitude toward the exercise of personal freedom. When your individual choices conflict with what the Bush people think is good...
...this apparent foresight, L'Oreal's recent stock performance has at times been less than lustrous. Its P/E ratio has more than halved over the past three years, suggesting the market feels that its growth prospects have slowed. Analysts cite the company's big ad and promotions budget and the fact that its manufacturing is less efficient than that of its competitors. Says Citigroup's Smith: "L'Oreal has the cost structure of a prestige cosmetics house, yet only 25% of its products are in the prestige category. The rest is mass market." Such criticisms draw a scathing response from...