Word: discounting
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California fined nursing homes $2.4 million last year but has collected only $500,000 (the state gives nursing homes a 50% discount on fines that are not appealed...
...Lydia Kaye Dew, 17, and Christina Menefee, 16, a girl he once dated. He was subdued by assistant principal Joel Myrick, who pulled a .45-cal. pistol from his car and ordered the gunman to the ground. "Mr. Myrick," said Woodham, "I was the guy who gave you the discount on the pizza the other night." Woodham had been hoping to make the assistant manager's program at the local Domino...
...that business legends are made of. In a Days Inn diner in Hattiesburg, Miss., goes WorldCom lore, Ebbers and some partners scratched out on a napkin a plan for a phone company that would resell WATS long-distance service to local businesses. The name for the company--Long Distance Discount Services--supposedly came from a helpful waitress. "The only experience Bernie had operating a long-distance carrier was that he used the phone," recalls an investor in the original enterprise, which changed its name to WorldCom...
...growth in the telecommunications industry. Sidgmore and Ebbers spotted their chance last summer when a rift developed between MCI and BT over the price of their carefully negotiated merger because MCI's share price kept falling. Opportunity knocked the moment BT demanded a $5 billion discount off the price it had agreed to pay for MCI, which said in July that it would lose $800 million trying to break into the local-phone market in 1997 and could have even larger losses next year. The cut angered MCI shareholders, who are now likely to jump at WorldCom's 66% higher...
...protect its turf, Toys "R" Us threatened its suppliers: toys sold to the discount clubs would not be sold at its stores. Exhibit A: Barbie, a hot seller that Toys "R" Us did not want available elsewhere at next to nothing. Manufacturers don't like the clubs either, because they stock a limited number of items at very low margins. Toys "R" Us, on the other hand, might stock everything Mattel makes. Admits Costco CEO James Sinegal: "You could fill Madison Square Garden with the people who don't want to sell to us." Industry watchers...