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Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them. Business, that's easily defined - it's other people's money.
I.B.M. - Tops Forecasts for the Quarter.
I.B.M. reported a solid 12 percent gain in net income for the fourth quarter, bucking the trend of steep declines for many technology companies amid the economic downturn and surprising Wall Street. The company is seen as a bellwether of global technology spending among corporations.
Yet its strong performance in the fourth quarter, analysts say, mainly points to the success of its strategy in recent years of tilting toward higher-profit software and services and reducing its reliance on the computer hardware business, which suffers more in down economic cycles.
I.B.M.’s hardware sales did drop 20 percent in the quarter, but that weakness was more than made up by strong results from the company’s far-larger services and software groups. Some analysts had predicted that I.B.M. would announce as many as 10,000 staff cuts, or 3 percent of the work force, to trim costs in a weak economy.
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Wal-Mart Joins a Retail Trade Group
The Russian retail association, a lobbying organization, said Wal-Mart Stores had joined the group in the latest in a series of moves indicating its interest in expanding into Russia.
“Wal-Mart is working on the Russian market,” Ilya Belonovskiy, the executive director of the industry group, said. In April, Wal-Mart appointed an executive to head its efforts to explore business opportunities in Russia and neighboring markets. The discount chain, started by Sam Walton in 1962, has become a central figure in scores of social, economic and political debates, from health care to immigration to gun control.
Supporters contend that the chain’s legendary low prices have democratized consumption, allowing low-income households to afford flat-screen televisions and nine-layer lasagna. Critics say those low prices have depressed domestic wages and exported manufacturing jobs to foreign countries, hurting Americans more than helping them.
Read more here.
Economy shrinking - warning that economy will shrink until 2010.
Here is another entry about a real situation of world economy that many people talk about. As for me, I realized that this is not a “game” that we should get involve because it will effect out daily life. Over the past few months, I’ve seen quite a few fearful sounding forum threads where some people seem incredibly worried about the bad world economy.
Well this is true because the first official signs that Britain is in recession will be announced this week, with Government figures showing the economy shrinking for the first time since the dark days of 1992.
The first fall in economic output for 16 years will be matched by dismal forecasts from leading economists that there will be no recovery until 2010. They are predicting that the official Gross Domestic Product figures, due out on Friday, will show that the economy shrank by 0.2 per cent in the three months to the end of September. All agree this will be the first of at least two quarters in which the economy contracts - the official definition of recession.
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Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves. One more thing is in the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. Remember, a business that makes nothing but money is a poor business.