Word: profiter
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Many are about to find out. On Jan. 1, Philips unleashed its latest simplification: a leaner company structure that cuts its divisions from five to three. The sleek new shape, Philips hopes, will help boost its profit margin, before tax, interest and other charges, from last year's 7.7% to beyond 10% by 2010. That would add some $900 million to those earnings based on last year's sales of $39 billion. Preoccupied with its overhaul in recent years, "we haven't been growing to our potential," admits Gerard Kleisterlee, 61, Philips' CEO since 2001. Reversing that, he says, means...
...neither consumers nor competitors, damn them, are obligated to think that way, especially when it comes to big-ticket items like TVs. Philips' LCD-TV business is losing money in the insanely competitive U.S. market, under pressure from the likes of Sony and Samsung. Globally, profit margins in the $15 billion consumer-electronics business are flat-screen thin. With TVs accounting for about 60% of sales at the former CE division, "if you look at [Philips'] strategic targets--stable growth and higher profitability," says SNS Securities' analyst Victor Bareńo, "then the core business of consumer electronics is not really...
Seeking to capitalize on Harvard’s health-care expertise, the Medical School’s deans envisioned a non-profit subsidiary designed to “find pockets around the world” that needed medical education advice and had the “capacity to pay,” according to former Dean Daniel C. Tosteson ’46, under whose tenure the organization was created...
Today, the organization—Harvard Medical International (HMI)—operates in over 30 countries on five continents, providing consulting services and bestowing Harvard’s imprimatur on medical schools and hospitals from Dubai to Dresden. In exchange, the non-profit funnels its excess revenue back to Harvard Medical School (HMS), which pocketed over $1.5 million in the year ending June 2006, according to tax filings...
...everyone will profit, however. India's bureaucracy still moves slowly, and huge social and infrastructural demands on the country's budget compete with defense spending. Jerry Powlen, Vice President of Integrated Communication Systems for U.S. defense contractor Raytheon, acknowledges that sales growth in India has been "slower than anyone had hoped it would be." But he says the emerging country is crucial for future growth. India "is one of the most important markets for us as a company going forward and the United States wants to foster good relations with India," he says. "It gets better every...