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Mexican tycoon Carlos Slim may sell loss-making CompUSA
reuters. ^ | Thu Sep 14, 2006 8:14pm ET

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


TOPICS: Culture/Society; Foreign Affairs; News/Current Events
KEYWORDS: carlosslim; carlosslimhelu; compusa
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1 posted on 10/08/2006 12:32:55 PM PDT by dennisw
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To: dennisw

Mexicans ... owning the companies that Americans won't own -


2 posted on 10/08/2006 12:36:22 PM PDT by RS ("I took the drugs because I liked them and I found excuses to take them, so I'm not weaseling.")
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To: dennisw
Mexican billionaire Carlos Slim

Now why does that strike me as odd?
3 posted on 10/08/2006 12:36:43 PM PDT by kinoxi (.)
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To: dennisw

No relation.


4 posted on 10/08/2006 12:37:40 PM PDT by Tijeras_Slim (Dancing through life like a street mime with tourettes syndrome.)
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To: dennisw; Tijeras_Slim

Carlos Sim.

5 posted on 10/08/2006 12:53:52 PM PDT by martin_fierro (< |:)~)
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To: dennisw

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.


6 posted on 10/08/2006 12:58:00 PM PDT by Alter Kaker ("Whatever tears one sheds, in the end one always blows one's nose." - Heine)
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To: kinoxi
Now why does that strike me as odd?

If you're talking about his name, Slim is descended in part from Lebanese Maronite Christians.

7 posted on 10/08/2006 1:00:00 PM PDT by Alter Kaker ("Whatever tears one sheds, in the end one always blows one's nose." - Heine)
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To: Alter Kaker

I stand corrected.


8 posted on 10/08/2006 1:02:12 PM PDT by kinoxi (.)
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To: Alter Kaker
...FR, where a few immigrant-hating zeaolots hold sway...

If you change that to ILLEGAL-immigran-hating, then you'd be correct.

Otherwise, you're just parroting the Dems/MSM.

9 posted on 10/08/2006 1:14:28 PM PDT by FReepaholic (This tagline could indicate global warming.)
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To: dennisw

They advertise on Rush. That has caused me to do business there.


10 posted on 10/08/2006 1:25:28 PM PDT by Oklahoma
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To: dennisw
There's been something wrong with the CompUSA business model from day one. They sell a number of things in their stores that are 1/3 to 1/2 more expensive on their shelves than they are online. I buy a ton of computer stuff for my own personal use, and would be happy to get what I want right away, but it's just not worth the price. If I need something in a day, I can order something online and get it shipped next day air. Sometimes that's still cheaper than buying it in a store. As a result, CompUSA (or Best Buy, Circuit City, etc.) don't see one penny of my spending.
11 posted on 10/08/2006 1:34:49 PM PDT by July 4th (A vacant lot cancelled out my vote for Bush.)
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To: Alter Kaker
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.

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.

12 posted on 10/08/2006 1:53:50 PM PDT by CGTRWK
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To: CGTRWK

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.


13 posted on 10/08/2006 2:01:16 PM PDT by Alter Kaker ("Whatever tears one sheds, in the end one always blows one's nose." - Heine)
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To: Alter Kaker

...and if the relative GDP of countries established ANYthing, perhaps you'd have a point.


14 posted on 10/08/2006 2:07:27 PM PDT by jra
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To: Alter Kaker
Mexico is a vibrant, dynamic, high-tech economy, one of the richest countries in the world.

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.

15 posted on 10/08/2006 2:16:15 PM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: Alter Kaker

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.


16 posted on 10/08/2006 2:18:04 PM PDT by CGTRWK
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To: jra
...and if the relative GDP of countries established ANYthing, perhaps you'd have a point.

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?

17 posted on 10/08/2006 2:20:13 PM PDT by Alter Kaker ("Whatever tears one sheds, in the end one always blows one's nose." - Heine)
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To: Moonman62
Then why do so many Mexicans risk their lives to illegally jump the border?Then why do so many Mexicans risk their lives to illegally jump the border?

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.

18 posted on 10/08/2006 2:22:17 PM PDT by Alter Kaker ("Whatever tears one sheds, in the end one always blows one's nose." - Heine)
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To: Alter Kaker

"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?


19 posted on 10/08/2006 2:22:26 PM PDT by panaxanax
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To: Alter Kaker

No, you take it wrong.

Your point is--for lack of a better term--pointless.


20 posted on 10/08/2006 2:24:22 PM PDT by jra
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