Word: sectored
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...motto: Look Good. Kick Ass) and will open its second Goddess store in Los Angeles in mid-March. Still, for all of Nike's technological and marketing prowess, the Portland, Ore., company may have picked a fight in the wrong ring. "When you open the door to the fashion sector, there are so many more players," says Michael Atmore, editor in chief of Footwear News. "Skechers has done an incredible job. Puma is very hot, and Adidas and Reebok are making every effort to fight for their share...
...Unlike China, which continues to support economic expansion by building factories and grinding out exports, Korea's engine is increasingly turbocharged by Pocketbook Power. Manufacturing output as a percentage of GDP stood at 32% in Korea in 2000; the services sector was larger at 43%. Domestic spending by the country's 47 million consumers has grown from about 50% of GDP in 1987 to 58%. With more than 1 million service sector jobs added since 2000, it looks like Korea will be the first Asian economy to make the leap from an industrial-led to service-driven domestic economy...
...consumers are creating companies. Domestic spending is helping make the Korean business sector more diverse, by spawning start-up enterprises in the technology and service industries. High-tech alone now contributes 15% of GDP, up from less than 8% in 1997. For a quick tour of the new economic landscape, log on to the Internet and check out www.freechal.com. One of the Web portal's hottest products are avatars, digital cartoon characters that stand in for real people in Internet chat rooms. Freechal started charging for avatars last June. Already the company has captured some 110,000 Korean customers...
...benefit when Americans start buying more cell phones, stereos and fridges, particularly Samsung Electronics whose nifty DVD players are already a must-have item for U.S. consumers. As the world's biggest semiconductor maker, the company would also get a boost from a pickup in the U.S. high-tech sector. Other beneficiaries: the myriad suppliers to Korea's shipbuilders, carmakers and other chaebol exporters. Korea's dependence on the U.S. market has lessened, but it is still a big part of the picture...
...don’t care very much for [private sector] biotech; intellectually interesting research occurs at the University,” Meister says. “I personally wouldn’t be sad if [the next boom] happened on the west coast...