Carlos Sim.
Posted on 10/08/2006 12:32:53 PM PDT by dennisw
MEXICO CITY, Sept 14 (Reuters) - Mexican billionaire Carlos Slim, the third-richest tycoon in the world, may sell his loss-making U.S. retail business CompUSA, a director of one of Slim's companies said on Thursday.
Jorge Serrano, director of investor relations of Slim's conglomerate Grupo Carso (GCARSOA1.MX: Quote, Profile, Research), told Reuters one company had shown interest in Dallas-based CompUSA, which sells computers, televisions and other electronics products.
"It is being evaluated," Serrano said of the possible sale of CompUSA, which was bought by a unit of Carso in March 2000 for $800 million. "Different alternatives are always being analyzed to try to make operations more efficient."
Carso was the parent company of CompUSA up to Slim's decision to spin off the U.S. retailer several years ago. He and his family, along with other Mexican families, now own CompUSA, which has more than 225 stores across the United States.
CompUSA struggled in the mid to late 1990s with lower computer prices and increased competition and was snapped up by Slim, who is known for his Midas touch and turning loss making companies into cash generators.
But analysts say CompUSA has not lived up to expectations and Slim and other family members are looking to unload the company, which Serrano said has been closing stores, improving its marketing techniques and contracts with suppliers.
"The company is fine but it could be better," Serrano said. "If you look at the numbers we have not been able to increase sales as ideally would have been the case. Meanwhile the competition has grown."
CompUSA was founded in 1984 and employs around 14,000 people
Mexicans ... owning the companies that Americans won't own -
No relation.
Carlos Sim.
Mexicans provide jobs for tens of thousands of Americans. Mexico is a vibrant, dynamic, high-tech economy, one of the richest countries in the world. But you won't hear it too much on FR, where a few immigrant-hating zeaolots hold sway.
If you're talking about his name, Slim is descended in part from Lebanese Maronite Christians.
I stand corrected.
If you change that to ILLEGAL-immigran-hating, then you'd be correct.
Otherwise, you're just parroting the Dems/MSM.
They advertise on Rush. That has caused me to do business there.
Mexico had a per capita GDP of about $10,000 in 2005 which ranks it 87th in the world. That puts Mexico right up there with the economic powerhouses of the world, such as Botswana, Uraguay, and Bulgaria.
Yes, there are lots of poor Mexicans. But Mexico also has an economy (GDP-PPP) of $1.073 trillion, which puts its economy at 13th in the world, ahead of Australia, South Korea, South Africa and the Netherlands, and just a small amount behind the economies of Canada and Spain.
...and if the relative GDP of countries established ANYthing, perhaps you'd have a point.
Then why do so many Mexicans risk their lives to illegally jump the border? Fox has made some reforms, but Mexico is still only a couple of steps up from the corrupt cesspool it's always been. Perhaps if Fox wasn't so wrong and vocal on the illegal alien issue, people would notice the good work he's done.
Yes, Mexico has a very significant business economy and middle class. The reason that is generally overlooked is because the only ties the horde of Mexicans invading this country have to that successful 1st world economy down there are geographic.
Successful, educated people don't pull up their roots.
If the relative GDP of countries is irrelevent, then I take it you believe that China and the African country, Gabon, have similar economic power, since their per capita GDPs are nearly identical? And St. Vincent and the Grenadines -- it's a relative economic juggernaut compared to the poor People's Republic?
Because there are a lot of very poor Mexicans. There are also a lot of middle class and wealthy Mexicans, none of whom jump the border.
"Mexico is a vibrant, dynamic, high-tech economy, one of the richest countries in the world."
Then why are the Mexicans running as fast as they can across our border?
No, you take it wrong.
Your point is--for lack of a better term--pointless.
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