Word: honge
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...sunny Thursday in Hong Kong when Carmen Wong takes the mike in a dimly lit room at a karaoke lounge. As she belts out a number by Cantopop (Cantonese pop) star Sammi Cheng, her colleagues bounce to the beat, waving forks in the air between bites of udon noodles, pork cutlets and potato salad...
...been years since karaoke, that staple of modern Asian life, was relegated to the ranks of drunken salarymen. Today in Hong Kong, it's being integrated into office life in a new tradition known as "K Lunch." Hong Kong residents are flocking to karaoke studios on their lunch hours, when many businesses are now offering two hours of food and song for less than $5. Students routinely hit up K Lunch, but the low price - using the same room after 6 p.m. costs about three times as much - also lures office workers, teachers, retirees and housewives. "You can have...
...Lunch has been around for years, but Eric Chu, marketing director at Neway, a leading Hong Kong karaoke chain, says his company began to promote it aggressively in 2001 in hopes of drumming up business during off-peak hours. Today, his outlets offer sushi buffets, Internet access and PlayStation consoles. Many are fully booked at lunch. And the recession hasn't hurt business: Neway lowered its prices 10% to 15% last November to lure penny-pinching customers and saw a few more patrons trickle in for the bargain...
Huang Jianhua's given name means "building China," but the sports promoter, who goes by the English name Ken, may be more interested in building U.S. basketball. According to basketball sources, the Chinese-born Huang is brokering a deal between the Cleveland Cavaliers and a Hong Kong real estate and telecommunications conglomerate called New World Development to buy up to a 15% minority stake in the National Basketball Association (NBA) franchise and its sports arena. The Cavs, who are currently battling the Orlando Magic for the Eastern Conference title, boast this season's most valuable player, LeBron James...
...circles. Ganis and Huang helped Rockets owner Leslie Alexander buy a stake in Chinese sportswear firm Anta for its successful initial public offering two years ago. But that comprador work is minor compared with the Cavs deal, which would rank as the biggest international sporting investment by a Chinese-Hong Kong consortium if it goes through. "It makes sense for the Chinese to look for business in the States, because that's where the investment opportunities are," says Terry Rhoads, managing director of Zou Marketing, a sports-branding consultancy based in Shanghai. "It'll be interesting to see what happens...