Word: eldorado
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Galbraith retired from Harvard in 1975. The following year, the Harvard Lampoon awarded Galbraith the “Funniest Professor of the Century Award” and a $12,000 Cadillac Eldorado convertible, The Crimson reported at the time...
...most big western companies, the British home-electronics retailer Dixons Group has closely tracked the rise of Russia's consumer market over the past few years, agonizing over when and how to jump in. In April the company finally took the plunge, announcing a $1.9 billion deal to acquire Eldorado, Russia's leading specialist retailer of consumer electronics and domestic appliances, with more than 600 stores. But Dixons is still nervous about the Russian investment climate, and its worries haven't been helped by recent problems at high-profile Western firms, including BP. So the firm has made an arrangement...
...blocking investment," says Weafer. According to Russia's Central Bank, capital flight quadrupled last year, to $9.4 billion. But for now, Western companies seem eager to keep on buying, and it's not hard to see why. Many are lured by the stellar performance of such companies as Eldorado, founded a decade ago by two brothers, Igor and Oleg Yakovlev. The company says its sales jumped 83% last year alone, to $2.5 billion. With numbers like that, Russia may well be a risk worth taking. --With reporting by Yuri Zarakhovich/Moscow
...most big western companies, the British home-electronics retailer Dixons Group has closely tracked the rise of Russia's consumer market over the past few years, agonizing over when and how to jump in. This month, the company finally took the plunge, announcing a $1.9 billion deal to acquire Eldorado, Russia's leading specialist retailer of consumer electronics and domestic appliances, with more than 600 stores. But Dixons is still nervous about the Russian investment climate, and its worries haven't been helped by recent problems at high-profile Western firms, including BP. So the firm agreed to start paying...
...Western companies seem eager to keep on buying, and it's not hard to see why. Eldorado, which was founded a decade ago by two brothers, Igor and Oleg Yakovlev, has been growing at a phenomenal rate. The company says its sales jumped by 83% last year alone, to $2.5 billion. With numbers like that unreachable in any other emerging market outside of China, Russia may well be a risk worth taking...