Word: low-end
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...lack of enthusiasm was not reflected in the auction rooms, which were well attended over the weekend with collectors from throughout the region, including Singapore, China and Indonesia. But Zhao Wuji's "7 Aout 2000" sold for $543,156 - over $44,000 short of Sotheby's low-end estimate of $587,500 - and several pieces, including paintings by star contemporary Chinese artists Zhang Xiaogang and Yue Minjun, went unsold at the modern and contemporary Asian art sale on Oct. 4. Many say the unimpressive results were a combination of already overinflated price estimates and the dismal economy. "Particularly with...
...Melco Crown ripped out slot machines and low-end gaming tables and expanded its VIP casino. But more importantly, Ho outmaneuvered his competitors by coming up with an unusual arrangement to ensure a steady flow of big fish. Macau casinos attract most of their wealthy clientele by working with junket operators, companies that function like specialized travel agencies. By maintaining close ties to high-end gamblers and often providing them with credit to bet, junket operators funnel traffic to the casinos, which pay them commissions. Macau has scores of independent junket operators, making business unpredictable. Ho figured...
They chose to go strictly organic, with none of the additives or fillers low-end discounters rely on. They're hoping that style will help: the company's other line, TSP Spices, comes in sleek decorative 12-packet tins topped with colorful labels. And consumers like their story. "People sometimes joke that we're the Spice Girls," says Engram, "but that's a stretch, so I came up with the CardaMoms. Cardamom is the queen of spices, and we're always carting around our kids to things...
Freitag thinks there's a pent-up demand for these hotels. When Starwood introduced the Westin Heavenly Bed, he says, "everyone thought it was, if not crazy, then highly unorthodox. Now name any brand, unless you're low-end economy; they all have deluxe beds." Starwood countered with the Heavenly Bath, and the industry followed. This time, says Freitag, "other brands aren't about to let Starwood get out in front...
...enough. Now a slowdown in global growth and a likely full-blown recession in the U.S. are about to stress-test China's manufacturing sector like never before--and could result in the shuttering of thousands of factories and cost hundreds of thousands of workers their jobs. Makers of low-end goods are already suffering. The Guangdong city of Huidong was home to 3,000 shoe factories at the beginning of 2007, but as many as 500 of them have closed over the past 15 months, says Li Peng, secretary of the Asia Footwear Association in Hong Kong. One-sixth...