Layoffs mark slump's spread

Article Abstract:

Hong Kong Telecommunications Ltd. is eliminating 270 management positions, the clearest indication so far that unemployment is spreading beyond distressed companies to still-healthy companies. Luk Hon-tak, a company spokesman, said that the management staff displacements will enhance efficiency as the company confronts more vigorous competition and a more difficult business environment following the city's economic decline. An analyst said that layoffs in profitable companies indicate that the companies are preparing for a prolonged recession.

Comment:

Is eliminating 270 management positions, an indication that unemployment is spreading beyond distressed cos to healthy cos

Wired Telecommunications Carriers, Telephone Communications, Other staff changes & profiles, Telephone services, Hong Kong Telecommunications Ltd., Article

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To some, Hong Kong practically isn't the same anymore

Article Abstract:

Critics of the Hong Kong government are arguing that expediency is the guiding principle behind the administration of Chief Executive Tung Chee Hwa. They are worried that the practice will lead to the erosion of the territory's competitive edge that is based on free market principles and the consistent implementation of the law. Critics cite the move to interpret Hong Kong's mini-constitution, the awarding of the cyberport project without bidding and the failure to prosecute a businesswoman for fraud as examples of the city's decline.

Strategy & planning, Public Administration, Local Government, Management, Political aspects, Government executives, Tung Chee-hwa

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Li gives details of $2 billion complex in Beijing

Article Abstract:

Hong Kong businessman Li Ka-Shing has formally unveiled the details of his plan to build a massive office and shopping complex in Beijing, China. The billionaire businessman who controls Cheung Kong Holdings and Hutchinson Whampoa Ltd is expected to spend some $2 billion to complete the complex. The timing of the announcement is considered significant, coming as it does at a time when many western investors are extremely reluctant to get involved with investment projects in China.

Real Estate, Real Estate and Rental and Leasing, Planning, Real estate developers, Investments, Buildings and facilities, Hutchison Whampoa Ltd., Li Ka-shing, Cheung Kong Holdings Ltd., Beijing, China

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