Word: rado
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Dates: during 1990-1999
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Hayek put up $102 million -- mostly his own money -- and led a group of investors in buying the two companies from the banks. He then merged them, effectively taking control of one-third of the Swiss watch industry, including such famous brands as Omega, Longines, Blancpain, Tissot, Rado and Hamilton. But his big coup was figuring out that a product invented before his arrival could be the high-quality, low-price, plastic quartz watch that would challenge the Japanese at the lower end of the market. The $35-to-$40 Swatch, which reduced by half the usual number of parts...
Consumer advocate Stuart Rado, a Miami Beach businessman who lost $3,500 to an overseas-job firm in 1981, blames the government for lax policing. "The FTC is impotent to do anything. People don't know where to complain," he says. In the past six months, however, the state attorney general's office has filed civil suit against four companies, including the now defunct Roblan, and is investigating four more firms for deceptive trade practices. Last month the FTC filed a complaint against another Florida operator, the Douglas Co., for allegedly deceiving clients about jobs in sunny foreign climes...