Word: iberia
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Dates: during 1990-1999
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COMPETITIVE ADVANTAGE The Netherlands had more than half the world's merchant ships. It ruled trade and shipping not just in Europe but throughout Iberia, Africa, Asia and South America, led by the famed Dutch East India and Dutch West India companies. (A forerunner of the latter founded New York City.) Amsterdam became the global financial capital; Dutch workers' wages were Europe's highest. The link between freedom and entrepreneurship was not lost on Adam Smith when he wrote of the virtues of free-market economics...
MIAMI: Saddo Ibrahim learned his lesson Friday in Miami after the Lebanese man brandished a tape recorder wrapped in tinfoil and threatened to blow up Iberia Airlines Flight 6621 if he was not taken to Miami. The DC-10 was flying from Madrid to Havana when Ibrahim stepped forward with a letter opener and his "bomb." Holding two wires connected to the tape recorder, he demanded that the pilot divert the flight and told the passengers and crew: "If I put these two wires together, this bomb will blow up." The plane landed in Miami at about...
...tourism was set for another record this year, until a spate of tourist murders -- three of them Germans on three separate occasions just this year -- revived worries about Miami's rate of violent crime, the highest in the U.S. Despite the bad press, European airlines like British Airways and Iberia Airlines of Spain have increased capacity to the city. Even the Russian airline Aeroflot makes money on Miami by picking up Florida-bound tourists at a stopover in Shannon, Ireland. And in 1992 a record 1.5 million tourists sailed from Miami, the cruise capital of the world, aboard 20 liners...
...magazines are based there. General Motors, Latin America's No. 2 automaker, moved its Latin headquarters from Sao Paulo to Miami two years ago. Disney moved its Latin American consumer-products office from Mexico City; Inter-Continental Hotels moved its base for the Americas down from New York; and Iberia Airlines left Los Angeles. Miami's success has been its ability to use its immigrant population to offer American products and business savvy in a Latin environment. "As the Western Hemisphere becomes more Hispanic, Miami has become the frontier city between 'America' and Latin America," explains Guillermo Grenier, the Cuban...
...French stores will < eventually see a drop in British prices as the single market forces member countries to harmonize their tax rates. France has already chopped its 33% value-added tax on automobiles, which kept French drivers from speeding across the border to buy lower-taxed German models. Lufthansa, Iberia and Air France have slashed airfares, signaling the opening of Europe's first air price war. Consumers are benefiting. But Bernard Attali, chairman of the board of Air France, warned that the "suicidal" consequences of cut-throat competition will be massive layoffs and fewer flights to small cities...