Word: maines
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Dates: during 2000-2009
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Seamus Daly has stiff competition on his hands. In the front window of his small wine store on the main road from Drogheda to Dublin are blackboards with handwritten messages extolling the virtues of his rosés and reds. But passing motorists can barely see them with all the brightly colored posters and banners crowding them on either side. "Ireland Needs Europe," reads one. "Lisbon = Lower Wages," warns another...
...founder, it has not yet trickled down to the pious Shi'ites from the provinces who gather at his tomb. There, devotion and loyalty to the Imam still rings true. On a recent summer day, a group of women in head-to-toe chadors sat outside the main doors, chatting away and having a picnic. It was one of the few bright moments in a season of darkness...
...perceived higher risks emanate from GEM's lower listing thresholds compared with those at the main boards in Shanghai, Shenzhen and Hong Kong - and even the SME Board in Shenzhen, which requires IPO applicants to have at least three years' operating history and profits. GEM may consider for listing a company that turned a profit of as low as $730,000 in the previous one year, provided total sales exceeded $44 million. (See pictures of the making of modern China...
...market's current get-rich-quick mindset cannot be changed overnight. Hong Kong, a more mature financial center, launched a GEM board 10 years ago. It has not been a notable success, with just 172 companies and total market capitalization of $11 billion - equal to 0.6% of the main board...
...Board in Shenzhen is doing better, having listed 293 firms with total market cap of $80 billion, equivalent to about 11% of the main board's. Still, the odds are that GEM and other initiatives may not do much to help China's private sector. The country's rulers may yet be forced to move more aggressively to stop state-owned enterprises from sucking up all the oxygen in the banking system, and do so sooner rather than later...