Word: marketized
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...much of an image hit in the wake of the financial crisis as Goldman Sachs. Once seen as one of the best-run companies in America, in the past year more and more people have come to view Goldman's outsized profits as a product of backdoor dealings and market manipulation. AIG's former CEO Hank Greenberg recently blamed Goldman for bankrupting the insurance company. (Goldman, not surprisingly, does not concur with Greenberg's version of events.) Goldman received $12.9 billion when the government bailed out the insurer. Goldman has also been accused by critics of making large profits...
...employee is forced to participate, which is not likely to be the case. Still, even $700 million would be far less than the $12.9 billion Goldman received when AIG was bailed out by the Federal Government. And it's a fraction of what Goldman has been making in the market at a time when the government is spending trillions to support asset prices. In the third quarter alone, Goldman raked in nearly $100 million a day in trading profits. In all, the firm is expected to have earned $12 billion...
...decision to offer a censored search page prompted an outcry from human-rights activists and some members of Congress that the company was turning a blind eye to its "Don't be evil" motto for the sake of access to the lucrative Chinese market. "Google came into the market bending some of its own rules," says Mark Natkin, managing director of Marbridge Consulting in Beijing. "It was intoxicated with the prospect of this enormous and still just-beginning-to-develop market. I think it always knew it was already having a little bit of misgiving about being in the market...
...Foreign luxury-car manufacturers, however, have vowed not to change their product and have faced unique challenges trying to get a foothold in the market. With few open roads to hit, but plenty of traffic jams to navigate, Indian consumers, unlike their Chinese counterparts, often opt for function over form. Those who want a stylish ride pay for it dearly: import duties of more than 100% essentially double the sticker price of all foreign cars. To get around that, BMW and Mercedes assemble some of their models locally, cutting the taxes in half. When BMW first arrived in India...
...with a customer, we show the backseat as well," says Kronschnabl. "We don't only focus on the driving experience because the [hired] driver experiences the driving; the owner experiences the backseat." Because the backseat rather than the driver's seat is a big selling point, unlike in most markets, bigger and more expensive BMW 5 Series sedans outsell the more affordable, smaller 3 Series models. This flexible approach has paid off for BMW, which finished the year as the top seller of luxury cars in the country. The competition, however, is good for everyone, says Kronschnabl, who expects...