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...luxury-hotel business. So far, Shangri-La is avoiding widespread discounting of room rates to protect its image. "If you look at all the top brands in the world at the high end - the Louis Vuittons, the Rolls-Royces - they never discount," says Greg Dogan, Shangri-La's chief operating officer. Instead, Shangri-La is targeting new customers, including corporations that might benefit from government stimulus packages, like construction companies, or are recession-resistant, like pharmaceutical outfits. "We have to knock on a few more doors," Rao says...
...India alone, 11.5 million new newspaper readers were added in 2008, and ad growth is chugging along at around 10% - less robust than over the past two years but still remarkably strong. "Many people can't enjoy their morning cup of tea without their newspaper," says Rahul Kansal, chief marketing officer for the Times of India, the world's most read English-language broadsheet and a major player among a whopping 64,998 newspapers registered across India...
...fact, the Japanese are the world's most avid newspaper readers, despite a dip in circulation over the past couple of years. "One would be hard-pressed to find another country in the world where newspaper companies are publishing several million issues a day," says Yoichi Funabashi, editor in chief of the Asahi Shimbun, the world's second largest daily (after its rival the Yomiuri Shimbun) with more than 8 million subscribers. Nonetheless, publishers know they cannot count on younger consumers. The Asahi Shimbun is helping launch a paid service for thumb-tapping readers who want to access news through...
...years back, two finance professors at the University of Chicago set out to discover who was behind the spectacular rise in the very top incomes in the U.S. Steven Kaplan and Joshua Rauh quickly concluded that for all the outrage about the pay of corporate chief executives and their lieutenants, it didn't account for more than a sliver of the gains. And highly paid athletes and entertainers were too small in number to have much impact...
...arrived, an 18-year-old boy was ready to leave after months of strenuous treatment. As part of the camp's tradition, he hugged every one of his fellow patients. "It's certainly an emotional moment for the kids," says Tao--one that can even soften the camp's chief disciplinarian. "To me, it's especially rewarding to see them step out of here with all the confidence that they deserve...