Word: riches
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Dates: during 2000-2009
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...Microsoft's software franchises were over 70%. Then the hyper-growth stopped as the company's market penetration of PCs and servers reached a saturation point. Microsoft's stock never saw the level it hit in 2000 again. Without lucrative stock options, employees who wanted to make it rich moved to start-ups. The people who had been at the company thirty years were already rich. Many of them retired...
...unique materials,” said John G. Palfrey ’94, professor of law and vice dean for Library and Information Resources at HLS. According to Palfrey, the Library chose to honor Cohen, the HLS Librarian from 1971 to 1981, for his “rich legacy in research and bibliography.” “My biggest satisfaction at Harvard was handling the Rare Manuscript collection,” said Cohen. “The Rare Manuscript collection is my first love.” Cohen, whose expertise lies mainly in the field of legal research...
...down, and construction on Europe's tallest tower has halted for lack of money. For fashionistas at the opening of the 18th annual Russian Fashion Week on Sunday, the most potent sign of the times was the sight of people wearing last year's styles. "Even the very rich aren't just going out and buying anymore," says Tatyana Ageyeva, a buyer who has worked for élite labels like Kenzo and Hugo Boss for nearly a decade. "Before, the wealthy would buy expensive things because they didn't care. Even if they knew they wouldn't wear it, that...
...Rich Russians are accustomed to huge markups on luxury brands sold in their country. Top fashion labels can sell for up to 1,000% of what they would in the U.S. or Western Europe. But factor in inflation and the devaluation of the ruble, and the price is too high for many, says Grankina. "There is a layer of wealthy people who are willing to pay up, but when the ruble falls against other currencies, sellers pass that on to consumers at a time of inflation, so things become much more expensive...
...while sales may have slumped, the spirit of some of Russia's rich remains breezy. The élite GUM shopping mall, situated on Red Square, has seen its number of shoppers fall some 30% this year, according to Ageyeva, the buyer. But Lilya Bondarchuk, a manager at the Jil Sander store in GUM, says that "clients joke about the crisis and ask each other if they have noticed it yet." Natalya Batalova, a corporate attorney who shops at GUM every few months, says she hasn't felt the crisis so far. "I don't know what it is," she says...