The students in the square rained on Deng's parade, |
The worst thing is to carry inventory over. Unless it's wine, it doesn't get better with age. It's basically better to sell it for 10 cents on a dollar than keep it. |
There are simply no new ideas here. |
There was a sense of disbelief after June 4, ... People in China, even liberal intellectuals, were sobered by the crackdown and its ferocity. |
There's more art than science to this. Put yourself in their shoes. You don't have a crystal ball. You don't know what to expect. |
They are coming up against a number of uncomfortable facts, |
They had come close to the edge of chaos and looked over, and they didn't like what they saw, ... Now they were saying that China needs time to heal its wounds, that we'll have gradual change instead. |
They have their planned promotions, but they have to be prepared to add some planned promotions in there if business is not happening. |
They shared the grievance that the government wasn't paying attention to ordinary people, that it was time to respond to the negative byproducts of economic reform. They considered the government to be arrogant, haughty and unresponsive. |
We think there's very few of them that can be long-term buys because of the fashion aspect of it, ... In Gap's case, what's happened here is that they've acknowledged that they have missed fashion but, in terms of their inventory management, they'll be delivering more frequently to the stores with less inventory commitment to each delivery. That should minimize their markdowns and improve their gross margins. |
Zhao Ziyang, on the other hand, was very much at the centre of that particular storm, and thus will be harder to rehabilitate. |