Word: retailing
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Dates: during 1990-1999
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WorldCom is now the country's fourth largest long-distance company--but it's a three-horse race. So instead of fighting for retail customers with AT&T, MCI and Sprint, WorldCom is creating something akin to its own private global telecommunications network. It has made 40 acquisitions in the past five years, including one that netted UUNet, the world's largest provider of high-speed hookups to the Internet. That's why WorldCom agreed to pay $1.2 billion for CompuServe and then traded that company's consumer subscribers to AOL in exchange for ANS, AOL's own networking...
...owning Harrods. "It sticks in their throats," he told the Times. But the Fayeds have also inflicted much damage on themselves, starting with their unsuccessful attempts to rewrite their history. In 1985 the largely unknown Fayed brothers paid $689 million in cash for the House of Fraser retail chain (whose flagship was Harrods). Two years later, the Department of Trade and Industry--at the instigation of al Fayed's chief rival for control of Harrods--began investigating the family. Its report, published in 1990, concluded that the brothers did not hail, as they had claimed, from "an old Egyptian family...
...often drive a better bargain by haggling with the sales clerks, and don't forget to ask for returned or demo models, which can save you 10 or 20 percent off the retail price...
When Read Block reopens, the bank will use the third floor for its own offices and will lease the lower two floors to retail stores...
...Secretary of State Albright urges Israel and the PLO to end their verbal sparring and give peace a chance (Reuters) ... Christian Coalition returns to its roots (TIME Daily) ... China's Hong Kong chief can't convince Washington it's business as usual in former British colony (TIME Daily) ... Retail sales figures released Friday by the Commerce Department are good news on inflation (Money Daily) ... Bodyguard Trevor Rees-Jones is not yet aware he is the sole survivor of the Paris car crash that killed Princess Diana (People Daily) ... The Safety and Freedom Through Encryption Act will likely open the backdoor...