Word: marketization
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Dates: during 1990-1999
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...Atlas Asia-Pacific, which distributes paint and automotive oil in Asia, management used a combination of work-force reduction and other strategies to save itself from diving markets overseas. Atlas, of Burlingame, Calif., suffered a catastrophic 65% drop in sales this year. The downturn led the company to lay off four of its 16 employees and to slash its travel budget from $450,000 to $75,000. With the help of its suppliers, Atlas cut the cost of its products in order to keep its struggling customers. "It's been the most difficult time in our history...
...stone from recycled glass and concrete. He is planning to make large equipment purchases in December and to start full production in February. He says he's not bothered much by what is going on around him. "I'd always assumed we would be dealing in a very volatile market," he says. "I knew there was going to be a downturn. I just didn't know it was going to be as large as it was in Asia." McCarthy, who says he factored a market crash into his plans from the start, may have hit upon the boldest approach...
...this is in service of a system that may produce jobs in one city or state, thus fostering the illusion of an uptick in employment. But it does not create more jobs in the nation as a whole. Market forces do that, and that's why 10 million jobs have been created since 1990. But most of those jobs have been created by small- and medium-size companies, from high-tech start-ups to franchised cleaning services. FORTUNE 500 companies, on the other hand, have erased more jobs than they have created this past decade, and yet they...
There was no question that like UPS, Mercedes-Benz was going to build a plant someplace in this country. First of all, the U.S. is an important market for Mercedes; second, wages and more flexible work schedules make manufacturing costs lower here than in Europe...
...biggest winners in all this could be the U.S. investor who bets on the euro's boost to European growth. "For the American investor," says J. Paul Horne, equity-market economist with Salomon Smith Barney in London, "the euro zone will be one of the few places in the world with risk comparable to that in the U.S. and with the kinds of structural changes that we saw in the U.S. over the past five years: balanced budgets, increased competitiveness, productivity gains...