Word: sales
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...Microsoft (MSFT) said its last quarter was bad, and looking out over the next six months, its businesses will probably deteriorate further. With sharp personnel cuts and the sale of its video game operation, the fortunes at the world's largest software company could rapidly change and the stock could outperform the market. Of course, management may be stubborn and there may be no restructuring at all. (See pictures of Bill Gates: The Early Years...
...Standard for tidbits to feed to his handlers back home. His exotic pedigree has caused a few splutters. Richard Ottway, a Conservative MP, said he felt that "the fact that [Lebedev] has been a member of a foreign security service" meant there should be an inquiry into the sale. "I think it's one more example that we are no more a serious nation that we allow a serious paper to be taken over in our capital by a Russian oligarch," harrumphed Sir Peregrine Worsthorne, an octogenarian former newspaper editor. (See pictures of the fashions of Russian Czars...
...keys to a successful liquidation? Start with the signs. At the Circuit City near Manhattan's Lincoln Center, Fried, fresh off a nine-week job running clearance for a Mervyn's store in California, has plastered the storefront window with seven somewhat garish red and yellow posters: Store Closing Sale! Nothing Held Back! Entire Store on Sale! Inside, the discount stickers (30% off for furniture, mobile phone accessories, and cables, 20% off CDs and DVDs, 10% off everything else) and sale rules (no returns, no checks) are ubiquitous. "If we look obnoxious, we're doing our jobs," says Fried...
...also need to time the discounts correctly. The liquidation firms are running against the clock. They can't drop the discounts forever, and the longer the sale lasts, the more expenses it has to pay. How long will they let the $1,300 plasma TVs sit at 10% off? They won't tell the customer, of course. The Great American Group wants you to buy, now, before it's forced to move the discount down to 20%. The customer also has to make some bets. For example, Erickson, the Great American CFO, worked on the liquidation for the Montgomery Ward...
...rice terraces. As you traverse the whooshing rapids, you can take in a spring-fed infinity pool, a favorite after-school haunt of students like Chiara and Carina Hardy, the daughters of jeweler John Hardy, who, together with his wife Cynthia, founded Green School with profits from the 2007 sale of his eponymous Bali-based jewelry firm...