Word: ge
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...Coca-Cola sportswear and Begonia Flower-brand silk lingerie. A balding trader, waving a fan, hawks Christian Dior-label shirts. They cost 100 yuan ($27) abroad, he confides, but his price is only 25 yuan ($6). A real bargain. The yellow license in his stall identifies him as a ge ti hu (private entrepreneur), who sells his wares on the free market...
Welcome to the "Second Revolution," a phrase used by both Chinese Leader Deng Xiaoping and Soviet General Secretary Mikhail Gorbachev to describe the upheaval in economics and ideas now under way in the two Communist powers. The Chinese speak of gai ge (reform) or kai fang (opening up). The Soviets refer to perestroika (restructuring) and glasnost (openness). What the new slogans herald is the most far-ranging shift in course since Dictator Joseph Stalin drove the Soviet Union onto the path of forced collectivization and heavy industrialization in the 1930s and Beijing's Great Helmsman, Mao Zedong, launched the Cultural...
Nonetheless, they turned all their persuasive powers on Publisher Nelson Doubleday and GE Chairman John Welch, offering them hefty prices and even giving the GE boss a lecture on corporate strategy. (Says Wossner: "We told him that music was too far away from electric motors and rockets.") Then Wossner tried another tack. In separate meetings one day last September, he recalls, he gave each American executive the impression that the West Germans could afford to buy only one of the two companies. "Either you sell to us, or we'll go to the others," warned Wossner...
...pioneer. Its first product was an $18,000 Unimate machine used by General Motors to load forged dies at a New Jersey auto-assembly plant. As recently as 1981, Unimation made 45% of all robots sold in the U.S. Another setback for robotics will take place next month, when GE plans to fold its $4 million robotmaking plant in Plymouth, Fla., idling 118 workers...
...tips on takeovers. After Siegel pleaded guilty to criminal charges, authorities alleged that Kidder should have known what Siegel was doing. General Electric, which owns 80% of Kidder, struck the SEC deal to avoid prosecution -- and to put the scandal in the past. Even as the settlement was announced, GE pumped $100 million in capital into the brokerage...