Word: trading
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Dates: during 1990-1999
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...seen documents detailing corruption involving local leaders," says a Beijing official. "On the margins is Zhu Rongji's terse inscription: CHE (Fire him!)." When TIME wrote last October that his wings had been burned by being too ambitious with reforms, Zhu sent a message through former U.S. Trade Representative Carla Hills: "Tell TIME my wings are still strong...
...behind Amazon's 8 million. A third of those browsers regularly bid on or sell a selection of nearly 2 million items, including computers, Ginsu knives, baseball cards and model trains, generating about $300 million in total transactions during the fourth quarter of fiscal 1998. "There's a constant trade show going on," says Steve Karas, of New York, who auctions sports cards on the site. By taking a 1.25%-to-5% cut on each of those exchanges, eBay is one of the few Net start-ups to turn a profit--albeit a small one--on sales of $47 million...
There are tricks of the trade too. Savvy bidders know how to swoop in to bag their quarry during the last few seconds of an auction (which can last hours, days or weeks). And certain merchants collude to drive up prices artificially. For the most part, overpaying at these electronic garage sales is the consequence of being too enthusiastic--just as it is with the old-fashioned kind. Caught up in the competitive frenzy of an auction, many people don't know when to fold their cards. Says Tim Brady, vice president of production at Yahoo: "Anybody...
Incredibly, amid the catcalls of the skeptics, one constituency seems to practice that old-time religion: online traders. These e-buyers--indeed, they are mostly buyers--believe in the Net long-term. We know it was the e-little guys doing the buying because the average size of each trade was well below a thousand shares. What seems flaky to Wall Street seems downright rigorous to e-Main Street...
HAIR APPARENT It was heads up at last week's Proud Lady Beauty Show, a trade expo for African-American beauty products in Chicago. Inspired by the unique properties of black hair, stylists went to new heights. You know what they say: It's a curl thing...