HOW TO WIN THE BSG
Short Description
HOW TO WIN BSG...
Description
HOW TO WIN THE BSG (BSG-ONLINE) BUSINESS STRATEGY GAME A SHORT SHORT TUTORIAL TUTORIAL ON BECOMING A CORPORAT CORPORATE E BEHEMOTH IN 12 WEEKS OR LESS - THE EXPERIENCES OF SEVERAL TOP TWENTY TEAMS
vie e!"i#e $#%&e' %e Note: Since first publishing this account, I have received numerous replies, accounts and inquiries from others who have played the game and excelled, and have included their suggestions here. It was originally written in 2! and was last updated in "anuary, 2#. $his page has no connection whatsoever with %c&raw 'ill. It is simply one group of students providing information information to others others who come after them. them. (very semester)term semester)term since this page page was first posted, students have written to give their own input on the *S&, and you are welcome to give us your additions also. +e will post all new insights.
T*e BSG-+!,i!e %&e i ve#. /+&,e0 i"* !&e#%3,e v%#i%3,e %!' % 'e/e"ive,. i&,e $#%&e+#4 *i/* ,e%ve &%!. "'e!" "#,i! "+ $i!' % "#%"e. /%%3,e +$ i!!i! "*e %&e5 G#%'e %!' $+# "*+e #e,.i! +! e&,+.e#-%i' "i"i+!63++4 - /+" 'ee!'e!" +! "*+e #%'e /%! $$e# *+##i3,.5 *+##i3,.5 O$"e! "*e /,% i +!,. +$$e#e' S#i! "e#& +$ % e!i+# .e%#5 F,!4 i" %!' .+ i,, %" 3e" 3e % $ive .e%# e!i+# i"* "*e ,i4e,i*++' +$ !+" 3ei! %3,e - $+# +!e #e%+! +# %!+"*e# - #e"#!i! "+ /+&,e"e % 'e#ee i ve#. #e%"5 T+ % /e#"%i! e0"e!" eve! i!!e# %#e i&,. "*+e *+e ++!e!" $i!' "*e&e,ve &+#e 7%" e%75 M+" "'e!" %#e i&,. ive! "*e #, +$ "*e %&e %!' "+,' "+ 3ei! i"* ve#. ,i"",e #e,i&i!%#. e0,%!%"i+! +! "*e %#" +$ .+# #+$e+#5 I$ "*%" i "#e $+# .+ "*e! .+ *%ve /+&e +! *%" i,, ,i4e,. 3e .+# 3e" #e+#/e $+# e0,%i!i! "*e %&e8 &e/*%!i& i! eve#.'%. ,%!%e5 B" "*i %e i !+" e#i+# "+ "*e %&e &%!%, %v%i,%3,e %" .+# 7C+#+#%"e L+33.7 (%,"*+* "*e ,++4 +$ "*e ,+33. *i$" $#+& .e%# "+ .e%#) !'e# "*e *e%'i! +$ P,%.e#8 M%!%, *i/* .+ *+,' #e%' "*+#+*,.5 A" A" ,e%" "i/e5 I$ .+# i!"#/"+# ive +&e $e #e$%"+#. #e&%#4 %3+" "*e %&e listen very carefully to your instructors introduction introduction to the game5 9+ i" !+" 3e/%e .+ 3e,ieve *e +# *e *% % "*+#+* 4!+,e'e +$ "*e %&e5 He +# *e %,,. '+e !+"5 I! $%/" $e i!"#/"+# *%ve #%#e,. ,%.e' "*e %&e "*e&e,ve e0/e" $+# %! i!i"i%, 7'%33,i!7 *i/* M/G#% Hi,, e' "+ e,, i" "+ "*e&5 I! $%/" % "*e %&e +e +! &%!. +$ .+ &%. %,#e%'. *%ve $+!' - *i/* i *. .+8#e #e%'i! "*i %e - "*%" "*e %'vi/e ive! 3. .+# i!"#/"+# i % #e/ie $+# /%"%"#+*e5 I!"#/"+# %#e +$"e! % 'e,'e' %3+" "*e !%"#e +$ 3i!e i! "*e %e +$ ,+3%,i:%"i+! % %#e "*e "'e!" ,e%#!i! "*e %&e5 T*+e i!"#/"+# 3e,ieve "*%" 3. /%#vi! "*i +# "*%" !i/*e +" +$$e#i! % !i;e #+'/" i"* *i* ;%,i". %!' ,+ +ve#*e%' .+ i,, *%ve 3i," % % #+$i"%3,e e!"e##ie5 A i,, 3e e0,%i!e' 3e,+ % 7#+$i"%3,e e!"e##ie7 i!8" +i! "+ /" i" i! "*e BSG5 Y+ Y+ !ee' "+ *%ve "*e MOST #+$i"%3,e e!"e##ie5 A!' "*%" i,, /+" .+ %!. e#+!%, /*%#%/"e# +# v%,e .+ &%. *%ve &%!%e' "+ /,"/* +! "+ %$"e# < .e%# i! %! i!"i""i+! *i/* i 'e'i/%"e' "+ /+#+#%"e v%,e (.+ +,'!8" 3e ,%.i! "*e %&e %&e i$ "*%" e#e NOT "#e)5 Y+ Y+ i,, !ee' "+ %" ,e%" pretend "+ ##e!'e# i!"e#i". "+ i! "*i %&e5
H+eve# "*i '+e !+" &e%! "*%" .+ *+,' !+" listen "+ .+# i!"#/"+#8 #e&%#4 because you can ban- on ! of the other students in the room following slavishly slavishly any recommendations recommen dations he or she ma-es eve! i!$e#e!"i%,,. i! "*e $+,,+i! #+!'5 A!' .+ /%! &%4e .+# &+ve %//+#'i!,.5 O# i!"#/"+# e"e' #%ii! S6= % +i!" 7e#*%7 ,+e#i! "*e #i/e % '+,,%# 7&%.3e7 7&%.3e7 i! R+!' 15 9+i! ,i"",e e,e5 Te%& Te%& &%'e ,i*" v%#i%"i+! *e#e %!' "*e#e5 O$ "*e > +"*e# +"* e# "e%& i! "*e #++& +!,. "+ (Te%& (Te%& A %!' Te%& Te%& F i! "*e e0%&,e 3e,+) &%'e +&e 7#%'i/%, &+ve7 %!' #%ie' "*e &+'e, !&3e# +&e*%" %,+!i'e S6= %!' "*+e "e%& 'i' e,, i! "*e #+!' (B" R+!' 1 i %3+ve %,, % /#% *++" % .+ %!' .+# ++!e!" $ee, "*e %&e %!' +!e %!+"*e# +"5 A!' 3e,ieve i" +# !+" - i" i % #+!' .+ &%. /*++e "+ ,+e 'e,i3e#%"e,. "+ ,+e# "+/4 #i/e $+# #/*%e "*e $+,,+i! #+!')5 R+!' 1 % "*e +!,. #+!' &. "e%& (Te%& B 3e,+) ,+" (!i!"e!"i+!%,,.)5 O# #i/e - %!' "* +# #+$i" &%#i! - e#e /+&%#%"ive,. ,+ %!' e /%&e i! $+#"* i! EPS6ROE5 C+!e;e!",. +# "+/4 #i/e "%!4e' (%,,+i! "+ 3. i" 3%/4 %" 3%#%i! #i/e "*e $+,,+i! #+!') %,"*+* e "++4 "*e ,i+!8 *%#e +$ "*e &%#4e" 'ei"e 4eei! +# &+'e, !&3e# %" % #i'i/,+,. ,+ ,eve,5 I&+#"%!" C+!i'e#%"i+! Be$+#e Y+ C+&&e!/e "*e G%&e M/G#% Hi,,8 +!,i!e Bi!e S"#%"e. G%&e i i!/#e%i!,. % %#" +$ 3i!e %!' 3i!e i!$+#&%"i+! /+#e +#,'i'e5 T*+e *+ +#4 i! &+'e#! i!'"#ie i,, #e/+!i:e i" $+# *%" i" i - % "#%"e. %&e +!e +$ eve#%, /* % G,+-B %,, i"* #e&%#4%3,. i&i,%# %,+#i"*&5 A A % "#%"e. %&e i" i &+" e0e#",. ,%.e' 3. #e-"ee! #e-" ee! *+ e/i%,i:e i! "#%"e. %&e ,i4e WOW +# S"%#C#%$"5 Bi!e &%?+# *+ *%ve !eve# +#4e' i! % &+'e#! /+#+#%"i+! %#e %" "+ '+ ++#,. !,e "*e. $+#e" &/* +$ *%" "*e.8ve 3ee! "%*" i! /,% %!' #e,. +! "*e +3e#v%"i+! +$ "e%& &%"e %" +#4,%/e i!"e%'5 T*+e *+ *%ve !ei"*e# +#4e' $+# % &+'e#! /+#+#%"i+! +# e!" "i&e %&i! i,, 3e %" % 'i%'v%!"%e5 Wi!!e# i,, 3e "*+e *+ $+/ +! "*e %&e /+#e #%"*e# "*%! +! 73i,'i! % #ee/"%3,e 3i!e75 M/G#% Hi,, '+e !+" #eve%, "*e %,+#i"*& e' "+ 'e"e#&i!e Ove#%,, S/+#e 3" % ,i"",e %!%,.i i,, *+ "*e i!'ivi'%, /%"e+#ie /%! 3e 'ivi'e' i!"+ 2 /%"e+#ie 3. "*ei# ei*" i! "*e +ve#%,, e#$+#&%!/e #%!4i! (ee 3e,+)5 $he winning strategy for the game is / % +!e "'e!" %!' % #+$ei+!%, $#+& % ,%#e i!'"#i%, /+#+#%"i+! 3%e' i! Te0% Te0% !+"e' / entirely situational / it depends upon your opponents moves as well as your own. T*e &+" //e$, /+&e"i"+# i "* %/"%,,. ,%!!i! TWO &+ve %" %!. ive! "i&e - .+# +! &+ve %!' "*%" +$ .+# ++!e!" %!' 'evii! &e"*+' +$ i!'/i! "*e ++!e!" "+ 3e,ieve *e +# *e i &%4i! 7"*ei# &+ve7 +$ "*ei# +! v+,i"i+!5 F+# "*e &+" %#" "*e ,%""e# i,, ,i4e,. 3e '+!e 3. e0%&,e - i$ .+ %#e //e$, +"*e# i,, "#. "+ /+. .+# &e"*+' %!' i" 3e/+&e ee!"i%, "*e! "+ &%4e i" %e%# "*%" "*e !'e#,.i! #e%+! $+# .+# //e %#e !+" % .+ 4!+ "*e& "+ 3e5 T*%" i !+" %! !#e%, i"%"i+! i! "*e #e%, 3i!e +#,'5 M+" CEO %#e i!/%%3,e +$ 'evii! +#ii!%, "#%"eie %!' i!"e%' e!' % ,i$e"i&e "#.i! "+ %e +"*e# +# 7+"-%e7 "*+e *+ %#e5 Be!/*&%#4i! i"8 /%,,e' i! "*e #e%, 3i!e +#,'5 C+#+#%"i+! %. $+# % e" +$ "%"i"i/ - %,+ ,ie' "+ .+ i! "*e BSG - +$ i!'"#. %ve#%e %!' i!'"#. ,+ $+# /+"5 CEO i,, /%! %/#+ "*i %!' e" % "%#e" 3e,+ /+&e"i"+#8 /+"5 O!e ;%#"e# i" i,, 3e %. 1@5 A!+"*e# %. 5 I! $%/" .+ /+,' i" % /*i& %" % 4e.3+%#' i"* !&3e# +!,. %!' i&i"%"e "*e &+" 73#i,,i%!" +$ /+#+#%"e CEO5 T*e #+3,e& i"* /* %! %#+%/* i $+# "*e !%"i+! +!,. - i" i&,ie %! eve# '+!%#' i#%, +$ %e %!' 3e!e$i" % "*e %ve#%e 4ee $%,,i! i! "*e %4e +$ "e! "*+%!' /* 'e/ii+! 3. "e! "*+%!' /* /*i&%!:ee5 A!' +$ /+#e #+$i" &%#i! 4ee $%,,i! 3e/%e %&+! "*ee 73e!/*&%#4 "+ 3e%"7 %#e #i/e5
T*e %, &+'e, eve! $+# &%!$%/"#i! /+#+#%"i+! i W%,&%#" &%4e +# e,, *+''. ++' %" ,+ #i/e i"* "*e ,+e" +i3,e *%#e +$ "*e #+$i" &e"e' +" "+ %!.+!e 3" &%!%e# %!' "+/4*+,'e#5 T*e i'e%, CEO "+'%. *% %i#%"i+! *i/* 'i$$e# ,i"",e $#+& "*e vii+! +$ % ,%!"%"i+! +!e# +$ "*e %!"e3e,,& 9ee S+"* *+ #e,ie' +! %! +$ ,%ve "+
#+'/e % i:%3,e i!/+&e $+# "*e &%"e# i! e0/*%!e $+# % 3+, +$ /+#! &*5 A!' "*e e!' "*%" ,ie %*e%' $+# *i& +# *e# i,, ,i4e,. 'i$$e# ,i"",e5 Pe+,e e!e#%,,. e!e#% ,,. i,, #e/+ve# "*ei# 'i!i". %!' ,ive,i*++' 3. +&e &e%! %,,. i! $i" %!' "%#" +&e"i&e i! /%"%/,.&5 B" i! "*e &e%!"i&e "*e &%"e# i,, ,ive e,, +&e"i&e ve#. e,, i!'ee '5 T*%"8 .+# +%, i! "*i %&e5 Livi! e,,5 A!' ;ee:i! +"*e# + .+ &%. '+ +5 I$ .+ /%! '+ + i"*+" *ei"%"i+! i"*+" "*%" &+&e!"%#. /,"/*i! 'e "+ % e!e +$ #e+!i3i,i". "+ %!' $+# +!e +"*e# .+ %#e ,i4e,. "+ //ee' i! "*e /+#+#%"e +#,' % e,, % i! "*i %&e5 Ye .+8#e /+##e/" - "*%" is "*e /,i!i/%, 'e$i!i"i+! +$ % sociopath, 3" %" "*e &+&e!" "*e ,ive,i*++' +$ "*e e!"i#e ,%!e" %#e /+!"#+,,e' 3. %! +#%!i:e' +$ +/i+%"* % i evi'e!/e' 3. "*e 3e*%vi+# +$ 3%!4i! +$$i/i%, *+ *%ve '+!e &+#e *%#& "+ &i,,i+! i! "*i /+!"#. "*%! %!. "e##+#i" *%ve '#e%&e' +$ '+i! %!' .e" 3e,ieve i"* %,, "*ei# *e%#" "*%" "*e. %#e $,,. entitled to "*ei# &i,,i+! '+,,%# 3+!e5 A!' "*ee +/i+%"* /+!"i!e "+ %,4 $#ee i"* %' +$ /%* i! "*ei# +/4e"5 T*e.8#e /+!i'e#e' 7!+#&%,7 "*ee '%. %!' i! $%/" "*e BSG *+,' "*e& "+ .+ % #+,e &+'e,5
S"#%"ei/ C+!i'e#%"i+! 0isguise every successful move with at least 2 changes *i/* i,, ,e%ve .+# ++!e!" !#e +$ *i/* "+ e&,%"e5 Ue /+&&+! 3,,e"i! 3+%#' "+ - VERY SUBTLY SUBTLY 3e/%e "*e#e %#e "*+e i!"e,,ie!" e!+* "+ e .+# %&e i$ i"8 +ve#" - "+ ,e" 7,i7 +&e &i-*i!" +$ "*i +# "*%" ,%! +# ,i*" &i-e0,%!%"i+! +$ %" //e5 He%' ,e$" 3e$+#e '+3,i! 3%/4 !e0" &+ve "+ + #i*" - $+# e0%&,e i! S6= (ee 3e,+) +!e !+"/* +!e &+ve 3e$+#e '#+i! i" 2 !+"/*e "*e $+,,+i! #+!'5 T*e#e %#e &%!. %. "+ i! "*i %&e %!' .+ &" 3e ve#%"i,e5 T*i %e i! 2DD % '#%i! +&e DDD *i" '%i,. - 1DDDD *i" % &+!"* %!' .+ /%! 3e" "*%" %" ,e%" +!e i $#+& +!e +$ .+# /+&e"i"+#5 I$ eve#%, %#e .+# %&e i +i! "+ 3e/+&e ve#. &e%! ve#. ;i/4,. !,e .+ &%4e i" ee& % "*+* .+ %#e /+!"i!%,,. /*%!i! .+# "#%"e.5 Eve#. "e#&6e&e"e# I /+##e+!' i"* % /+,e +$ '+:e! "'e!" ,%.i! "*i %&e5 I!v%#i%3,. "*e ;e"i+! %#ie *%" *%e! i$ 2 +# &+#e "e%& %'+" "*i "#%"e. T*e %!e# i %,+ !/*%!i! "*e %&e i,, e" ve#. #i& i!'ee' 3" !+" !e%#,. % #i& % i$ +!,. +!e "e%& %'+" i" %!' "*%" "e%& i!8" YOURS5
B" never overestimate your opponents i$ .+ %#e % +&%! ,%.i! &%,e %4 !%ive ;e"i+! ,e%'i! ++!e!" "+ 3e,ieve .+ %#e %3+" "+ '+ "*e ++i"e +$ *%" .+ %#e %/"%,,. ,%!!i!5 Le" "*e& %&e .+# 3e;e!" 7e##+#7 i 3%e' +! .+# 7!%ive"7 #%"*e# "*%! 3ei! % 3#i,,i%!" "#%"ei/ &+ve5 T*e %&e i "#e $+# e"*!i/ #+ *%"eve# "*e !%"#e5 T*+e +$ E#+e%! %!/e"#. i! % /,% '+&i!%"e' 3. Ai%! +# Hi%!i/ &i*" ,%. "+ "*e *i," "*e i'e% +$ %! i!+#%!" i!+#% !" %##+%!" ?%/4% *i/* i #e"". &/* *+ LA %!' AP ee "*e& #%"*e# "*%! +$ +!e '+i! ie#/i! %!' /%,/,%"e' %!%,.i5 T*+e +$ Ai%! 3%/4#+!' &i*" ,%. "+ "*e #%/i& +$ "*ei# +! E#+- ++!e!" 3. +i! % % /%,/,%"i! &%/*i!e i!/%%3,e +$ $,e0i3,e +#%!i:%"i+! +# +$ /*%!i! 'i#e/"i+! 3. i!i"i! i! 3,i/ $+#& +! "*e /+##e/"!e +$ % %#"i/,%#,. ++# &+ve by some other team $+# e0%&,e5 Hi%!i/ &i*" ,%. "+ "*e #%/i& +$ 3+"* Ai%! %!' E#+- ++!e!" 3. #e"e!'i! "+ 3e ,%:. %!' !/+!/e#!e' i"* +"/+&e *i,e *#e',. /%,/,%"i! eve#. +i3,e &+ve5 O,'e# ++!e!" /%! ,%. "*e %&e %&e i"* .+!e# +!e "*e ,%""e# %&i! % ,%/4 +$ /+&"e# %!' %&i! 4i,, +! "*e %#" +$ "*e $+#&e#5 Fi!' +" "*e #e?'i/i%, %&"i+! *e,' 3. .+# ++!e!" %!' %/" - ve#. 3",. - % "*+* .+ %#e &ee"i! "*ei# e0e/"%"i+!5 Le%' "*e& 3. %,,i+! 3. e'/"i+! +# 3. ,e%vi! "*e& +!,. +!e /*+i/e "*e %"* "+ T*e#&+.,%e *e#e .+ i,, ,%. %! i!e!i+ *%!' %!' "*e! /" +"5 Hi'e .+# +//%"i+! i$ !ee' 3e - !eve# ,e" %!. +!e +"i'e .+# +! "e%& 4!+ "*%" .+# ,ive,i*++' $+# e0%&,e /+&e $#+& 'ei!i! 3i!e "#%"e. %&e $+# M/G#% Hi,,5 I!"e%' ,e" '#+ % *i!" "*%" .+ "i!4e# i"* "+. i"*+" 3ei! "++ e/i$i/5 I$ +! "*e +"*e# *%!' .+ %#e % WOW /*%& 3" % i%!+ "e%/*e# i! .+# %#e "i&e ,e%' .+# ++!e!" "+ 3e,ieve "*%" %,, .+ 4!+
%!'6+# %#e /+!/e#!e' i"* i C*+i!5 Neve# $+#e" "*%" BSG i % "#%"e. %&e %!' i" i +! .+# "#%"e. !+" .+# 3i!e 4i,, - e0/e" i!+$%# i!+$%# % "*e. %#e ei*"e' 3. "*e %&e i"e,$ *i/* i,, .ie,' .+# /+#e5 T*e#e %#e &%!. %. "+ i! "*i %&e 3" $+,,+i! %#e "*e +&e ,e+! ,e%#!e' $#+& +# e0e#ie!/e %!' $#+& "*+e *+ *%ve 3e;e!",. e!" "*ei# /+!/,i+!5 I$ "*ei# !%&e /+&e e%4 e,, +$ "*e&5 T*e $i#e e' %#e "*+e $#+& &. +! "e%&8 e0e#ie!/e 3" "*e. %#e !+" "*e 3e" ee! i! /+##e+!'e!/e i"* +"*e# "'e!"5 ROE +$ @ e%#,. i! "*e %&e %#e !+" !/+&&+! %!' +!e "e%& $#+& T*%i,%!' /+!i"e!",. *i" %! ROE +$ @7 +# +&e /* *i/* i "#%!,%"e' $#+& 7&%!%e&e!"-e%47 i!"+ P,%i! E!,i* E!,i* % 7e $%i,e' $%i,e' "+ i!"#+'/e "*e &ie#. %!' *%#'*i e ,%!!e' i!"+ DDD *+e*+,' e *%' ,%!!e' "+7 (i&,ie' i 73" e i,, &%4e "*e $$e# "*e !e0" ;%#"e# i!"e%'7)5 W*e! .+8ve $i!i*e' e!"e#i! "*ee 'e/ii+! &+ve +!"+ "*e B#%!'e' P#+'/"i+! %e5
N+"e T*e#e +!/e % %!+"*e# &%,, /#ee!*+" %3+ve +$ "*e B#%!'e' P#+'/"i+! %e 3" #%"*e# "*%! $+/ +! % ,e%, $i*" i"* "*e &%! $e%"#e' i! "*e e&%i, %" #i*" e8' #%"*e# $+/ +! e""i! .+ "*#+* "*i /+#e5 A /+&e!%"i+! e %#e +"i! /*%"e# +$ % $i,& %3+" "*e 3i!e &+'e, e' i! "*e %&e5 Y+ Y+ &%. %/"%,,. $i!' i" +$ &+#e e'/%"i+!%, v%,e %!.%.5
Pe#/e!"%e +$ Se#i+# M%"e#i%, O"e!i3,. O"e!i3,. "*e /+" +$ e#i+# &%"e#i%, i e" 3. +#,' /+&&+'i". #i/e 3" 3 " "*e e0%/" !%"#e %!' +#/e +$ "*ee #i/e i! "*e %&e i % e/#e" 4!+! +!,. "+ M/G#%-Hi,,5 We /+,' !eve# $i#e +" "*e e0%/" %,+#i"*& %,"*+* ,. %!' 'e&%!' - %&+! "*e "e%& i!v+,ve' i! .+# /,% - i % *e $%/"+#5 Le%"*e# i i!v+,ve' % .+ /%! ee 3. "#%/4i! "*e ee4,. /+" i! /+&&+'i". &%#4e" %!' ,++4i! %" "*e %&e8 #i/e5 B%##i! +&e 'i%"e#
/* % &%' /+ 'ie%e +# % *++$ %!' &+"* +"3#e%4 #e,"i! i! "*e &% ,%*"e# +$ "*+%!' +$ /+ "*ee /+" i,, $,/"%"e ,i*",. $#+& ee4 "+ ee4 $+# ,%!" +"i'e "*e U5S5 + ,+! % "*e. %#e 3.i! US 3ee$ (3ee$ #+'/"i+! i i!/#e%i! +#,' i'e) %!' "*e A&e#i/%! '+,,%#8 'e3%e&e!" /+!"i!e !/*e/4e'5 T*i i,, 3e +$$e" +&e*%" 3. "*e i!/#e%i! i!"#+'/"i+! +$ /%"",e i!"+ C*i!% (AP) %!' "*e i!/#e%i! i,,i!!e +$ I!'i% (AP) "+ e!' /+ "+ ,%*"e# i! i"e +$ #e,ii+ i&,e ("*e 7'ev+"7 e# /%"e Hi!' i&,. +"+#/e "*e 7"%3++7 ?+3 "+ +"*e#)5 B" "*%" +$$e""i! i %,, ,i4e,. "+ !#%ve, % /%"",e $ee' - /+#! #i&%#i,. - +e "+ 3i+$e,5 I" &%. eve! 3e !'+!e /+&,e"e,. 3. "*e "#e!'5 LA *% %,%. 3ee! % ,%#e /%"",e- #+'/i! #ei+! %!' "*e +!+i! #%:i! +$ "*e #%i! $+#e" 3. /%"",e 3%#+! +!,. #+&ie &+#e +$ + $ "*e %&e5 Ye" *e#e "++ "*e 3i+$e, 'e&%!' 3. +i, /+&%!ie i "*#e%"e!i! /%"",e #+'/"i+!5 Re%#',e "*e #i/e i,, i,, #ie 'i/e#!i3,. 'i/e#!i3,. +ve# "*e /+#e +$ "*e %&e % "e%& i!/#e%e "*ei# S6= (%!' &%!. i,,) #+vi'e' %! e/+!+&i/ #e/ei+! '+e !+" "%4e ,%/e % i!evi"%3,. i,, +//# i"* "*e /+!e;e!" ," +$ !e %"+ 'e&%!'i! $e,5 T*%"8 ee/i%,,. "#e % /%%/i". e0%!' %&+! .+# /+&e"i"+#5 Ye" Ye" e%/* #ei+! i,, !ee' "+ 3e /+!i'e#e' e%#%"e,.5 I! +&e #ei+! .+ i,, $i!' "*e e#/e!"%e +$ #% &%"e#i%, %#e &+" e$$e/"ive,. e" % *i* % @ +! +//%i+! eve! D@ 3" % % e!e#%, #,e 1D@-2D@ i %'e;%"e 'ee!'i! +! "*e /*+i/e .+ &%4e e,e*e#e5 O! +//%i+! >@ i,, 3e $$i/ie!"5 Nee',e "+ %. "*e *+''ie# %!' /*e%e# "*e &%"e#i%, .+ /%! e" %%. i"* "*e 3e""e# $+# .+# #i/e %!' #+$i"5 Neve# "*i!4 "i/e %3+" "*e $%/" "*%" .+# *+e i,, $%,, %%#" +! $i#" e%#i!5 T*%"8 !+" % #e%,-,i$e 3i!e 'e/ii+! %!' i" '+e!8" $%/"+# i!"+ "*e %&e ei"*e#5 T*e#e i !+ /+#e $+# "*e "%i!%3i,i". +$ "*e ,%!e" i!v+,ve' i! &%4i! $ee# *+e +$ #e%"e# ,+!evi".5 T+ "*e /+!"#%#.5 T*e +-/%,,e' #ee! 'e/ii+! %e *% !+ i&%/" +! .+# /+#e i"* "*e e0/e"i+! +$ /+!e#vi! e,e/"#i/i". (ee 3e,+)5 Ge!e#%,,. "*e! % $i#e +$ 12-1@ i e'5 I" *+,' NEVER e0/ee' 2D@ e0/e" i! e0/e"i+!%, /%e5 8inding this page useful9 0onate a few buc-s to -eep the server going
E!*%!/e' S".,i! T*e i&%/" +$ e!*%!/e' ".,i! +! e%/* +$ "*e < &%#4e" #ei+! v%#ie5 I! #+!' 1 .+ i,, %!" "+ e0e#i&e!" i"* v%#.i! "*e e!*%!/e' ".,i!6$e%"#e e#/e!"%e +$ e#i+# &%"e#i%, "*e /*%!e i! %!!%, 3%e %e %!' i!/e!"ive %. "+ ee *i/* e" +$ $i#e #e," i! "*e ,+e" +i3,e T+"%, C+" +$ M%!$%/"#e S*+e5 T*ee e#/e!"% e i,, !+" +!,. v%#. $#+& #ei+! "+ #ei+! 3" $#+& #+!' "+ #+!'5 I! +&e #ei+! e!*%!/e' ".,i! i,, 3e &+" e$$e/"ive %" D %!' i! +"*e# $#+& 1D "+ 1 'ee!'i! +! .+# /*+i/e $+# "*e +"*e# v%#i%3,e5 I!i"i%,,. i" i,, ,i4e,. "%4e .+ %! *+# %" ,e%" "+ "#. "*e v%#i+ e#&"%"i+! +i3,e i! e%/* #ei+! 3" % "*e %&e #+#ee .+ i,, $i!' i" "%4e !+ &+#e "*%! % $e &i!"e5 T*i %&e i,, +$"e! 3e 'e/i'e' +! e!!ie + i!i"i%,,. " "*e 3,4 +$ .+# "i&e *e#e5 B. /*%!i! "*e v%#i+ /+&3i!%"i+! .+ i,, $i!' "*e T+"%, T+"%, M%!$%/"#i! C+" +$ B#%!'e' S*+e %" "*e 3+""+& +$ "*e %e *i$"5 Ge" "*i $i#e '+! % ,+ % +i3,e5 A!' #e&e&3e# "*%" i! "*e %e +$ ,+3%,i:%"i+! *+''. ++' %#e !+" % ,i%3i,i".5 I8ve /+##e+!'e' i"* "e%& *+e &e&3e# i!i" "*e. '+!8" %!" "*ei# !%&e %+/i%"e' i"* ,+ ;%,i". #+'/"5 I$ .+ $ee, "*%" %. "++ "*e! ,e%e %!e# &e "*i 7*e#e e"-Q"#e %#e .+ ,%!!i! "+ +#4 %$"e# #%'%"i+! =%,i". "+'%. i !+"*i! &+#e "*%! % &%#4e"i! ,+%!5 I"
'+e!8" e0i" i! "*e /+#+#%"e +#,'5 Y+ '+!8" 3e,+! i! *+e &%!$%/"#i!5 I!"e%' +$ 3ei! e!#+,,e' i! "*i i!"i""i+! .+ *+,' 3e +#4i! i"* %! +#%!i/ %#'e!e# +# % *%!'/#%$" "+. &%4e#5 Y+ Y+ +,' $i!' &+#e %"i$%/"i+! %!' $ee, 3e""e# %3+" .+# +#45 A!' .+8,, /+&e /,+e "+ 3ei! "%#ve' "+ 'e%"*5 T*e#e %#e eve#e !e%"ive /+!e;e!/e $+# ;%,i". %!' i!"e#i". i! "+'%.8 &%#4e",%/e5 $%)Six Sigma, *est 4ractices $raining in 7ound #: Spending the maximum on $% and especiall especially y *est 4ractices is a ;must;. T*ee %#e /&,%"ive i!ve"&e!" %!' 3. "*e e!' +$ "*e %&e i,, 3e %vi! 1-2 % %i#5 T*e &%0i&& +! T=M i %,,. 25D5 DDD i %,,. % ++' % .+ /%! '+ i"* Be" P#%/"i/e5 &+!"* %!' "%/4i! .+# #+$i" +!"+ +!" + "*e #i/e +$ ei"*e# *i/* i,, .+ /*++e A *+e "*%" i,, !ee' "+ 3e #e,%/e' - i"* %!+"*e# #+$i" #+$i" i! &+!"* +# +!e "*%" !ee' #e,%/e' i! > &+!"* I"8 "i/e % #+$i"%3,e "+ 3. "*e ?!4 *+e5 T*e#e8 !+ "*#e%" +$ ,+" %,e #e%,,. i!/e "*e *%!'$, +$ +"*e# #e"%i, /*%i! %#e '+i! "*e %&e "*i!5 E!vi#+!&e!"%, "%i!%3i,i". %!' /"+&e# %"i$%/"i+! %#e i&%e ,+%! .+ ,%/e i! .+# %' i! /e,e3#i"ie "+ &+"* "*e& %!' !+" +&e"*i! "+ 3e "%4e! e#i+,. i! ei"*e# "*e %&e +# #e%,-,i$e /+#+#%"e "#%"e.5 I$ .+ $i!' %'+"i! "*i "#%"e. ,++4 "+ .+ % "*+* .+8#e #ii! .+# !ei*3+# +$$ "*e! ve#. ;i/4,. $i!' % &i##+# %!' ,++4 .+#e,$ i! "*e e.e5 Ree%" "*i 7C+!#%",%"i+!57 A$"e# < .e%# +$ *%vi! %!' $,! #ee%"e',. i! .+# e.e "+ /+!$e "*e& "*+e e.e .e" e#ve .+ e,,5 I" i "*e i!/+&,e"e!e +$ "*i /+,,ive %e/" +$ "*e %&e8 "#/"#e *i/* &+" #e$,e/" i" +3+,e/e!/e5 T*e %&e % 'ei!e' i! %! e#% *e! "*e *i#i! +$ "e&+#%#. +#4e# 3. "*e "*+%!' % ivi! %. "+ "*e e#% +$ U5S5 /+#+#%"i+! *i$"i! $%/"+#ie %3#+%'5 T*%" % "*e e#% +$ "*e Ce,"i/ Tie# Tie# +$ "*e T%i%! T%i%! Mi#%/,e5 T*e BSG8 7Se,$-C+!"#/"i+! +$ C%%/i". "%3 #e$,e/" /* %! e#%5 S3e;e!",. "*+e %&e $i#& /e%e' $+!'i! $%/"+#ie %!' i!"e%' %i"e' ,+/%, 3i!e +!e# i! e""i! "*ei# +! $%/"+#ie5 A" $i#" "*ee $%/"+#ie &%!$%/"#e' /+&+!e!" +$ #+'/" %!' "*e! "*e #+'/" "*e&e,ve5 T*i %,,+e' "*e 7%#e!"7 $i#& "+ #e,i!;i* #e+!i3i,i". $+# *i#i! %!' $i#i! $+# e!vi#+!&e!"%, %$e". %!' %,, +"*e# ,+/%, ,%5 Eve!"%,,. "*e $%/"+#ie e#e ive! #e+!i3i,i". $+# "*e /+&,e"e #+'/" %!' "+'%. " +'%. % $%/"+#. i! M%,%.i% i,, &%!$%/"#e "*e #+'/" +$ $i#& /+&e"i! i! "*e &%#4e"5 I! "i&e +$ /+#e "*ee +"+#/e# &%4i! %,, "*e #+'/" i,, 3ei! &%#4e"i! "*e& !'e# "*ei# +! 3#%!' % e,, % +"*e# %!' "*%" e,, '++& $+# "*e +#ii!%, 3#%!' 3" "*i!4 *+#" "e#& *e#e5 ONLY *+#" "e#&5 Me%!"i&e "*e 'i$$e#e!/e 3e"ee! #+'/" i % &%""e# +$ 3#%!'i! +!,.5 +!,.5 T*e &+" &%#4e' e/"+# +$ e&,+.&e!" e0%!i+! i! A&e#i/%! A&e#i/%! i!'"#. i i! M%#4e"i! 3e/%e "*e +,e 'i$$e#e!"i%"i+! %&+! &%!$%/"#e# i i! e#$i/i%,i"ie 7O# %#3%e i 3e""e# "*%! "*ei# %#3%e7 eve! "*+* %,, "*e %#3%e /+&e $#+& "*e %&e $%/"+#ie5 A!' i" 3e/%e +$ "*e *+&+e!+ !%"#e +$ "*e #+'/" "*%" !+!e +$ "*e $i#& i "*#e%"e!e' 3. "*e ,%/4 +$ ;%,i".5 T*e %!e# "+ /+!&e# 'i%"i$%/"i+! i %,%. 7W*e#e %#e .+ +i! "+ +7 O!/e .+8ve $i!i*e' "*e %3+ve &+ve +!"+ "*e W*+,e%,e M%#4e"i! M%#4e"i! "%3
N+"e T*e#e +!/e % %!+"*e# &%,, /#ee!*+" %3+ve +$ "*e W*+,e%,e M%#4e"i! %e 3" #%"*e# "*%! $+/ +! % ,e%, $i*" i"* "*e &%! $e%"#e' i! "*e e&%i, %" #i*" e8' #%"*e# $+/ +! e""i! .+ "*#+* "*i /+#e5 A /+&e!%"i+! e %#e +"i! /*%"e# > +$ % $i,& %3+" "*e 3i!e &+'e, e' i! "*e %&e5 Y+ Y+ &%. %/"%,,. $i!' i" +$ &+#e e'/%"i+!%, v%,e %!.%.5
W*+,e%,e M%#4e"i! T*i %e i % /+&,e0 % "*e B#%!'e' P#+'/"i+! P%e %3+ve i"* ,i*",. $ee# v%#i%3,e5 T*e +%, i "+ e,, .+# *+e %" % #i/e /#e%"i! % 'e&%!' *i/* #e," i! %
*+#"$%,, +$ %. -1 "+ - 2 i! e%/* +$ "*e < &%#4e"i! #ei+!5 Y+ '+ "*i 3. %'?"i! #i/e Re"%i, +#" 9e,ive#. "i&e #e3%"e %!' i! "*e P#iv%"e L%3e, &%#4e" (ee e,e*e#e +! "*i %e5 Y+ Y+ i,, %!" "+ + $#+& "*i %e "+ "*e B#%!'e' 9i"#i3"i+! P%e "+ ee /,e%#,. "*e i&%/" +! "*e &%#4e"
N+"e T*e#e +!/e % %!+"*e# &%,, /#ee!*+" %3+ve +$ "*e B#%!'e' S*ii! %e 3" #%"*e# "*%! $+/ +! % ,e%, $i*" i"* "*e &%! $e%"#e' i! "*e e&%i, %" #i*" e8' #%"*e# $+/ +! e""i! .+ "*#+* "*i /+#e5 A /+&e!%"i+! e %#e +"i! /*%"e# +$ % $i,& %3+" "*e 3i!e &+'e, e' i! "*e %&e5 Y+ Y+ &%. %/"%,,. $i!' i" +$ &+#e e'/%"i+!%, v%,e %!.%.5
T*e i'e% *e#e i i&,. "+ *i %,, .+# *+e $+/i! +! "*e &+" #+$i"%3,e #ei+! %!' /+&,e"e,. *+#"i! "*e #e"5 P#iv%"e L%3e, Stay out of the 4rivate 5abel %ar-et except to create the shortages in the branded mar-et mentioned above. I!i"i%,,. &+!e. /%! 3e &%'e +! 3i' i! "*e PL5 Ove# "i&e "*e +"*e# "e%& &%. 3ei! "#e%"i! "*e #iv%"e ,%3e, &%#4e" ,i4e % 7&i,4 /+7 %!' i" i,, 3e "e&"i!5 B" % "*e %&e #+/ee' "*e #i/e i,, $%,, '#%&%"i/%,,. i! "*e PL5 A" "*e +i!" - $+# "*e ,%" #+!' - *e#e .+# /%%/i". e#&i" % i!,e ,%!" "+ 3e 'ev+"e' "+ "*e P#iv%"e L%3e, &%#4e" %!' "%4e "*e e!"i#e "*i! '+ +5 I" +,' 3e 3e" i$ .+ *%'!8" " %!."*i! i!"+ "*e PL &%#4e" "*e #e/e'i! #+!'5 I" i,, /+&e % % *+/4 %!' "*e +"*e# "e%& &%. *%ve 3i' *i* #i/e "+ i!/#e%e "*e #+$i"%3i,i". +$ "*e &%#4e"5 T*%" %,,+ .+# .+# 3i' "+ ee "*e PL5 F+# &. "e%& e e" "*e P-L "*e ,%" #+!'5 We !e0e/"e',. '#+e' 1DDDDDDD *+e i! "*e P-L $#+& +# NA ,%!" *i/* e i/4e' % e' %!' *i/* #+'/e' *+e +!,. $+# "*e PL &%#4e" %!' e "++4 i" %,, i! "*e +"*e# 2 ,%!" "+ $ee' "*e 3#%!'e' ,%3e, &%#4e"5 I" ,e$" "*e +"*e# "e%& i"* 1DDDDDDD *+e "*e. /+,'!8" &+ve %!' *%,$ +# ++i"i+! e!'e' i"* negative ROE6EPS i"* "+/4 #i/e /#e'i" #%"i! %!' i!ve"+# /+!$i'e!/e $,+!'e#i! % 3%',.5 O# "+ "#+!e" /+&e"i"+# e!" 3%!4#" 5 Pe#i+'i/%,,. Pe#i+'i/%,,. i$ .+8ve e"%3,i*e' .+# #e"%"i+! % ,+-/+" ,e%'e# .+ /%! "*#+ % $e *!'#e' "*+%!' *+e i!"+ "*e #iv%"e ,%3e, &%#4e" %" % ,i"",e %3+ve /+" "+ %"/* "*e #i/e - %!' #+$i" - +$ %!i/4e' "e%& '#+ '#%"i/%,,. i! "*e #iv%"e ,%3e, ,%3e, &%#4e" 3" i" *+,' 3e % "#%"ei/ &+ve +!,.5 +!,.5 I! #e/e!" %&e #i/e #e#e i! "*e P-L *%ve i!/#e%i!,. 3#+*" #+$i" "*e#e "+ !i, e%#,. +! i! "*e %&e %!' i! "*%" i!"%!/e i$ !+ #+$i" i "+ 3e &%'e .+ i,, i&,. '& %!. !#+$i"%3,e ,%!" /%%/i". (,i4e,. NA) i! "*e PL %" /+"5 I! i+,%"e' i!"%!/e ve#. "#+! "e%& i"* /%%/i"ie e0/ee'i! 2DDD *%ve e%i,. '+&i!%"e' "*e e!"i#e PL &%#4e" 3. 'ev+"i! 2 e!"i#e $%/"+#ie "+ "*e PL i"* 3"%!"i%, #+$i" +ve# eve#%, "#!5 E%#,. i! "*e %&e .+ i,, $%/e % i"%"i+! *e#e .+# /%%/i". i ,%#e# "*%! "*e 3#%!'e' &%#4e" %!' .+ i,, %!" "+ %! +$$ "*e e0/e "+ "*e PL &%#4e" ?" "+ #+"e/" .+# /%%/i". !"i, "*e 3#%!'e' &%#4e" e0%!'5
Ce,e3#i"ie Y+ Y+ i,, %!" "+ 3i' +! /e,e3#i"ie $#+& R+!' 15 A,"*+* O#%* (%!' "*e !%&e +$ "*e "%# v%#. 3. #+$e+#) i &+#e %e%,i! $+# *e# !&3e# A!i4% i &+#e +$ %! %e" % e" $+# *e# ,+!evi".5 O#%* O#%* % /+!"#%/"e' i! R+!' 1 +$ +# %&e $+# &i,,i+! i!i"i%,,. i!i"i%,,. A!i4% A!i4% ("*e !%&e +$ /e,e3#i"ie /%! 3e %,"e#e' 3. #+$e+# A!i4% i e' 3e/%e *e# > .e%# /+!"#%/"
i ,+! "e#&) $+# 15 &i,,i+!5 F+# #+e +$ /+&%#i+! 3. "*e e!' +$ "*e %&e 1 "e%& % 3i''i! @ 215> 125< 152 5 125 5>
EPS 15 51D
SP 152 5D 1D5 125D >5 25 512
MSM%#4e" *%#e i! NA We 3i' +! %!' +! N%"%,ie K%! %" 1 &i,,i+! %!' Se#i+ %" &i,,i+!5 We %,+ i/4e' P%."+! %" &i,,i+! i&,. "+ 4!+/4 +" Te%& Te%& A8 A8 +,e +#" - i" 2 /e,e3#i"ie (e +,' i/4 O#%* "*e 2!' ,%"e#)5 Re&e&3e# .+8#e !+" $+/i! +! #!!i! +&e +#" +$ i'e%, 7++' 3i!e7 *e#e5 Y+8#e $+/i! +! #i!i! .+# ++!e!"5 I"8 ee!"i%, "*%" i! "*e %!"ee!,"i&%"e #+!' ("*e #+!' 3e$+#e "*e !e0"-"+-,%" #+!' *i/* $+# R+!' < % %,"*+* &%!. i!"#/"+# *+#"e! "*e %&e 3. % #+!' +# "+ +&e"i&e !e0e/"e',. %!' +"*e# '#% "*e %&e +" +ve# % e&e"e# +# eve! %! e!"i#e .e%#) .+ *%ve e#i+#i". i! /e,e3#i". %e%,5 I! "*%" #+!' .+ /%! "*e! loc- superiority in celebrity appeal in, at minimal expense for the following 2 rounds by bidding unexpectedly high for 355 the celebrities (F+# +# "e%& "*%" &e%!" 3i''i! 2D1>DDD $+# e%/* - %#+0i&%"e,. D@ *i*e# "*%! #evi+ 3i'5 Y+ Y+ i,, i! "*e& %,, "*e! "*e ! /%!/e, %,, 3" *%" .+ !ee' "+ &%i!"%i! e#i+#i". %" "*e 3ei!!i! +$ "*e e!,"i&%"e (!e0" "+ ,%") #+!'5 T*e +"*e# "e%& i,, ee !+!e +$ "*e /%!/e,,%"i+! !"i, "*e eve +$ "*e ,%" #+!' - i! *i/* /%e i" i,, 3e +$ !+ v%,e i!/e "*e. +,' +!,. 3i' +! /e,e3#i"ie $+# % !+!e0i"e!" $"#e #+!'55 I" i,, /+" .+ 1D@ +$ "*e /+!"#%/" "+ /%!/e, !e0" #+!' ($+# +# "e%& "*i % % "+"%, +$ 1D &i,,i+!-%!'-/*%!e) *i/* i !e,ii3,e /+&%#e' "+ "*e /+" +$ /+&e"i! %%i!" "*e& +# +$ %/"%,,. 3i''i! +! %,, +$ "*e& - %!' ee/i%,,. +$ ,+i! "*e /e,e3#i"ie5 T*e $+,,+i! #+!' ("*e e!,"i&%"e) "*e#e i,, 3e "*+e *+ ee .+# 3i' "*e #e/e'i! #+!' %!' %/"%,,. "#. "+ +"3i' .+ i"*+" 4!+i! .+8#e /%!/e,i! % "*e.8#e 3i''i!5 I! +# /%e +!e "e%& 3i' "* &+!"* i!ve!"+#.) *i/* "*e. /+,'!8" &+ve %!' e#e +! "*e ve#e +$ 3%!4#"/. ('e$%," +! #i!/i,e6i!"e#e" %.&e!") *%vi! #e/eive' "++ &%!. 1-.# e&e#e!/. ,+%! "+ /+ve# "*ei# /%* *+#"%e5 T*e i!"#/"+# *%' #evi+ #e,%"i+!*i i"* +&e +$ "*+e "'e!" %!' i! +# e"i&%"i+! i!"e#ve!e' "+ 7%ve "*ei# 3%/+!75 S*e i!/#e%e' 'e&%!' - *e %i' i" %
$+# "*e $i#" "i&e i! 1 .e%#7 - 3. 1D@ "+ e#&i" "*e& "+ &+ve "*ei# i!ve!"+#ie %!' +#4e' i"* eve#%, +$ "*e "e%& "+ i&#+ve "*ei# /+#e5 He!/e$+#"* e e#e !+" +!,. i""e' %%i!" "*e +"*e# "e%& 3" - e$$e/"ive,. - %%i!" "*e i!"#/"+# *e#e,$5 S*e *+eve# ,i4e "*e +"*e# "e%& "*e&e,ve $%i,e' "+ #% "*e "#e i&,i/%"i+! +$ E/+!+&. +$ S/%,e %!' %'vie' "*+e i"* e0/e i!ve!"+#ie "+ e,, #%"*e# "*%! %'' /%%/i". ("* #e%'i! $i0e' /+" +ve# % ,%#e# !&3e# +$ *+e e#&i""i! #i/e "+ 3e ,+e#e' %!' "* &%#4e" *%#e i!/#e%e')5 O"*e# "e%& *%ve *%' "*e i!"#/"+# i!"e#ve!e "+ $#ee:e /%%/i". %''i"i+! 'e "+ e0/e i!ve!"+#ie i! *i/* /%e .+8' 3e""e# 3e ,e%'i! i! !&3e# +$ *+e #+'/e'5 A" "*e 3ei!!i! +$ "*e #+!' e i/4e' DD ("*+%!') +$ e' /%%/i". i! NA %!' Ai%5
A B C 9 E F G
Te%& C%%/i". %" +!e" +$ "* R+!' DDD 1D >DDD >>DD DDD >DD DD
Te%& A B C 9 E F G
P#i/e i! NA ) %!' +#'e# %! %''i"i+!%, >DD ("*+%!') /%%/i". i! #e%#%"i+! $+# #+!' >5 Si!/e .+ *%ve !+ #e+!i3i,i". "+ %. "*e
,+! "e#& ,+%! +$$ i! !+!e0i"e!" $"#e #+!' 'e3" %" "*i +i!" i +$ ,i"",e /+!/e#! + ,+! % .+ /%! &%4e "*e "* e %!!%, %.&e!" #e;i#e $+# "*e ,%" #+!'5 #+ !'5 O# !e&ei Te%& Te%& F +#'e#e' %!+"*e# 12DD ("*+%!')5 We /%!/e,,e' %,, "*e /+!"#%/" $+# /e,e3#i"ie *i/* e +! e0/e" $+# "*e !&3e# !e/e%#. "+ 4ee +# #e&%/.5 We %,+ 'e/i'e' "+ #ee%" "*e #+/e %!' bid astronomically on those newly available %" 22DDDDD %ie/e 4!+i! "*%" i$ e +! "*e& e +,' "%4e "*e 5 &i,,i+! e!%,". (1D@ $+# /%!/e,,i! /+!"#%/") %!' 4!+i! i" +,' 3e /*e% /+&%#e' "+ %,,+i! +&e "+ e/%e /*e%,. *i,e e 3i' +! +"*e#5 H+eve# e e0e/"e' 1-2 "e%& "+ ,++4 %" +# i!!i! "*e #evi+ #+!' 3e,ievi! "+ 3e #%/"i/%, i! 3i!e &%""e# %!' 3e,ievi! "*e %"#+!+&i/%, #i/e &" "*e#e$+#e 3e +#"* i" (i" 'i' !+" 3e/+&e %%#e!" !"i, "*e 3ei!!i! +$ R+!' 1> "*%" e *%' /%!/e,,e' "*e /+!"#%/") %!' e e0e/"e' "*%" "*e. +,' +" 3i' +! %" ,e%" +&e5 I! "#"* +# !e&ei F 3i' D@ *i*e# "*%! +# +! #i'i/,+ 3i' +! 2 /e,e3#i"ie %!' Te%& Te%& C '+3,e' +# 3i' (2DD@) +! %!+"*e#5 We i*e' "*e& e,, - !+" #e%,,. /+!i'e#i! "*e %''i"i+!%, /+" %''e' "+ "*ei# *+e #i/e5 Te%& Te%& G *%' /%*" +! "+ +# S6= "#%"e. %!' eve#%, "e%& !+ 3e%! "+ #% "*e i&+#"%!/e +$ &+'e, !&3e#5 R+!' > O# "e%& *%' *!!e' "*e #iv%"e ,%3e, &%#4e" e0/e" "+ "+ % $e *e#e %!' "*e#e "+ "*#e%"e! e!"#. %!' "* *+,' #i/e %!' #+$i" '+! +! "*e +"*e# "e%&8 %#"5 We *%' !+" '+!e eve! "*e ,%""e# $+# eve#%, #+!' %!' "*e v%#i+ "e%& *%' 3e! "+ vie "*e P-L &%#4e" % % +#/e +$ ++' #+$i" ".i/%,,. 3&i""i! +!,. 3i' "*%" e#e % *i* % "*+e i! "*e 3#%!'e' &%#4e"5 O!,. % %#" +$ "*i *i* #i/i! % 'e "+ "*e $%/" "*%" "*e. e#e 'ivi'i! &%,, ,%!" 3e"ee! 2 &%#4e"- i" % *ee# #ee'5 We #e%,i:e' "*%" 'ev+"i! +# e!"i#e NA ,%!" "+ "*e P-L e#&i""e' "+ 3i' +! !e%#,. %,, "*e &i,,i+! *+e %" % #i/e #%'i/%,,. ,+e# "*%! +# /+&e"i"+# %!' .e" &%4e *e #+$i"5 We %,+ 'e"e#&i!e' "*%" '+i! + %ve %! i&%e #%"i! +$ 1DD "*e %&e % i$ e8' #+'/e' % 1D i"* % ,%#e &%#4e" *%#e5 We "*e#e$+#e '#+e' "*e S6= - %!' #i/e - i! "*e 3#%!'e' &%#4e" %!' .+ &%. $i!' "*e %&e "%/"i/ e$, "+ drop the entire N3 plants output @per shoe, the most expensive factories in the branded mar-etA into the 4/55 T*e $i!%, #+!' 8"+/4i! +"8 (/#e%"i! &+#e 'e&%!' "*%! /%! 3e $i,,e' % % #e," +$ ,+ #i/e) - *i/* i! #evi+ #+!' /%##ie % !i%!/e e!%,". +$ #e'/i! "*e !&3e# +$ #e"%i,e# %v%i,%3,e - %!' "*e #e;i#e&e!" (i"* e!%,". +$ #e"%i,e# '#+i! %%. - %! %#/*%i/ e!%,". !+ ,+!e# %,.i! i! "*e #e%, +#,' i!/i'e!"%,,.) i! #evi+ #+!' $+# %! i!"e#!e" #i/e !+" &/* ,e "*%! "*e #e"%i, #i/e % "*e "* e 7/+ 'e #%75 Te%& F %!' G +# 2 /,+e" /+&e"i"+# 'e$%,"e' +! "*ei# i!"e#e" %.&e!" "*#+i! "*e& i!"+ 3%!4#"/.5 T*e i!"#/"+# *+ *%' ,%!!e' +! ivi! +" #%'e *i/* e#e D@ 3%e' +! G%&e "+ 9%"e Pe#$+#&%!/e /+#e %!' D@ 3%e' +! I!ve"+# C+!$i'e!/e ,eve, *%' i!"e%' "+ "#! "+ % /#ve #%'e - % /#ve *+e /+&+!e!" *e 'e/,i!e' "+ e0,%i! - i!/e "*e +#ii!%, ,%! .ie,'e' Te%& A B C 9 E F G
G#%'e 5@ 1DD5@ @ 5@
View more...
Comments
