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Another family firm exploiting a more favorable business climate is Nadim. Once a maker of traditional furniture for Arab oil sheiks, it is becoming a producer of modern designs for trendy European and American boutiques. CEO Adham Nadim is spearheading a strategic partnership with the government to boost Egypt's furniture exports from $200 million to $1 billion by 2010. The government lured Helmy Abouleish from his job running Sekem Group, an organic-food exporter, to head the government's Industrial Modernization Center. "Globalization is coming, whether we like it or not," says Abouleish. "Can we survive five...
...first drivable prototype is to be built this year, and Sommer expects to go into production of the first 5,000 to 10,000 cars in 2009 and ramp up to 100,000 by 2012. At least one major investor, Kosmo Technology Industrial Berhad, a Malaysian auto components maker, is on board. Kosmo has invested €2 million in Loremo, a big chunk of the €5 million Loremo has raised so far. The company will launch another financing round in September to raise €60 million to fund its production plans. If consumers are finally ready to embrace radical...
...workers toiled in open bull pens. Propst's pod offered at least as much privacy as they had in a toilet stall, albeit without the door. Corporate America, which is run by people whose offices have doors, has snapped up more than $5 billion worth of the units from maker Herman Miller. Today 70% of U.S. office workers sit in cubicles, which have long transcended mere office furniture to become a pop-cultural icon (thank you, Dilbert...
With Hyman and Keohane out of the running, the Corporation turned to its fail-safe backup: Bok. For Houghton, who himself had reprised his role as chairman and chief executive of the glassworks and fiber-optics maker Corning in 2002 after a six-year hiatus, Bok seemed reliable, according to a source who spoke with Houghton. The only thing left to do was to convince a 75-year-old man to leave the beaches of Florida for a bitterly divided university in Massachusetts...
...fragrance they developed, to U.S. retailers. Ten years later, it turns more than $20 million in annual global sales. "The first three years were worse than boot camp," admits Thomas. The real coup was winning in 2004 the North American rights to distribute the much coveted fragrance brand Creed, maker of scents for the likes of Princess Grace. Emmanuel and Thomas have new titles, vice chairman and president, respectively, for the launch this year of a new fragrance and a luxury skin-care line, the latter in partnership with Brazilian plastic-surgery specialist Clinica Ivo Pitanguy...