Word: marketization
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Dates: during 1990-1999
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...that, and the oligarchs were perfectly happy to see Kulikov go. He was no respecter of private property. And he seemed eager to be a political kingmaker in 2000, using his ministry troops and snoops to back Moscow Mayor Yuri Luzhkov, another foe of the free market...
...selling a family jewel, Samuel I. ("Si") Newhouse Jr., chairman of Random House's parent company, Advance Publications, proved that he could read a market as well as a book. And publishing is not a pretty story. Costs have been skyrocketing in a market shaken by high advances, torpid sales and power struggles with superstore book chains. In a statement, Newhouse said the company had reached a "decision to focus its efforts on the management and expansion of its core business of newspapers, magazines, business journals and cable...
...profit and loss statements of Simon & Schuster, owned by Viacom, and of HarperCollins, controlled by News Corp., but couldn't make a deal. For Bertelsmann, the world's third largest media company, the merger immediately establishes a long-sought commanding presence in the U.S., the world's largest media market. "Random House is a dream for Bertelsmann," says Thomas Middelhoff, 44, who engineered the deal just six months before officially stepping into the CEO's job. "I was as surprised as everyone else," says Sonny Mehta, president of Knopf, a prestigious Random House division. "I thought about it and said...
...addition to BDD, its U.S. holdings include music labels such as RCA and Arista and magazines such as McCall's. The company plans to raise not only its U.S. profile but its revenue too, from a third of its bottom line to 40%. "The U.S. is a very big market," says Middelhoff. "Our position is O.K., but our properties must strengthen our position...
...reluctant countries to negotiate, including OPEC members Saudi Arabia and Venezuela, and non-OPEC Mexico. Their plan: cut back production to firm prices. And OPEC's tried-and-true remedy may work again. News of a pending deal pulled prices up to almost $17 a barrel last week. The market response indicates confidence that the exporters will make their cuts stick. And if they don't, prices will fall again...