Word: kmarts
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...Amvescap, which last week acquired WL Ross & Co., a buyout firm run by turnaround specialist Wilbur Ross. Even hedge funds--whose trader mentality is antithetical to buying and holding--are taking pages out of the buyout playbook. Hedge-fund operator Eddie Lampert not only bought and merged Sears and Kmart but also installed himself as chairman...
...century when his great-grandfather owned a farm where HBS now sits.Harvard’s holdings in Allston—271 acres, many amassed over the course of 20 years—are dominated by autobody repair shops, industrial railyards, and fast-food franchises. Businesses like Pepsi, Kmart, and WGBH, which previously occupied the land, are vacating the premises as Harvard prepares to break ground on its first building—a 500,000 square foot science complex that will house the Stem Cell Institute. The Institute will be located across from Charlesview on Western Ave.But as Harvard...
...boosted profit margins by catering to the affluent. Discounters like Wal-Mart and Target have captured the bargain hunters. The stores that tried to appeal to a broad middle-income audience, as Macy's hopes to, have struggled. Former No. 1 retailer Sears merged with former No. 1 discounter Kmart to try to right two listing ships. Saks, a luxury icon suffering from mismanagement, misfired in its attempt to go down-market and has put its more lowbrow 40-store Parisian chain on the block...
Tell that "safe and secure" part to the folks at Enron, who lost $1 billion in their 401(k)s. Or WorldCom employees, who also lost $1 billion. Or Kmart employees, who lost at least $100 million. Welcome to the 21st century version of Studebaker...
Instead of trying to be all things to all retailers, Springs is focusing on core customers. Bowles says eight of them--including Wal-Mart, Kmart/ Sears and Target--account for about 80% of sales. That could be a risky strategy, since more retailers go directly to overseas suppliers for their store-label goods. Springs increasingly finds itself competing with its customers. Bowles is depending on good service, quick turnaround and brand power to stay in the game...