$5b �Mar­garet Cronin Fisk, with Jef Fee­ley $21b

Bloomberg Businessweek (North America) - - Companies/industries -

claims. Ran­dall Jack­son, a for­mer fed­eral pros­e­cu­tor in New York who rep­re­sents the two, says the ev­i­dence “clearly in­di­cates GM was at fault here.”

The car­maker stands a good chance of win­ning the case, ac­cord­ing to sev­eral prod­uct-li­a­bil­ity ex­perts. The judge has ruled out the pos­si­bil­ity of puni­tive dam­ages, de­signed to pun­ish a com­pany for mis­con­duct, which will limit any po­ten­tial jury award. “If I was a de­fense lawyer, I’d be run­ning to the court to try this case,” Lang­don says.

Waikiki has built Turkey’s most suc­cess­ful fash­ion brand by sell­ing styles that ap­peal to ob­ser­vant Mus­lims with­out alien­at­ing sec­u­lar buy­ers. The chain’s lineup is “very ap­pro­pri­ate for the sen­si­bil­ity of con­ser­va­tive cus­tomers,” says Maria Com­fort, Waikiki’s head of mer­chan­dis­ing and a vet­eran of U.S. brands Wet Seal and Hot Topic. “We are unique in tar­get­ing the wardrobe needs of a broad range of peo­ple.”

Founded in France in 1985, named for a Hawai­ian beach, and rein­vented in Turkey by con­ser­va­tive Mus­lim own­ers, Waikiki is crush­ing lo­cal and for­eign ri­vals in the Turk­ish fast-fash­ion mar­ket. It has al­most four times the share of its clos­est com­peti­tor and says 80 per­cent of the coun­try’s con­sumers have vis­ited its stores, a pen­e­tra­tion ap­proach­ing that of Wal­mart Stores in the U. S. Af­ter blan­ket­ing Turkey with out­lets, Waikiki seven years ago be­gan a push abroad, mostly into Rus­sia, the Gulf states, and Cen­tral Asia. The com­pany has 413 lo­ca­tions in Turkey and almo al­most 200 in cities as farflung a as Al­giers, Baku, and Tehran Tehran. This year, Waikiki says it inte in­tends to open more than 30 outle out­lets in its home coun­try and 100 abroad. “We’ve tak taken our mis­sion of ‘everyon one de­serves to dress well’ be be­yond the bor­ders of our co coun­try,” Chair­man Va­hap K Ku­cuk said in an e-mail.

Like Wal­mart, Waikiki is fa­mously in­ex­pen­sive— a pair of women’s jeans sells for as lit­tle as 27 lira ($10)—which helps draw young shop­pers and those who might oth­er­wise ch choose knock­off ap­parel at ou out­door bazaars. Even as Tu Turkey’s econ­omy fal­tered las last year, Waikiki’s rev­enue

Merck Vioxx Thou­sands of law­suits were filed in the mid-2000s af­ter re­searchers linked Vioxx to a higher risk of heart at­tacks. Merck lost the first case to go to trial and was or­dered to pay more than $250 mil­lion. In 2007 it set up a $5 bil­lion set­tle­ment fund. Wyeth Fen-phen Wyeth pulled the ap­petite sup­pres­sant off the mar­ket in 1997 be­cause of links to heart valve dam­age. In 1999 it set­tled or lost the first five cases to go to trial. A 2004 case re­sulted in a $1 bil­lion ver­dict. All told, Wyeth paid $21 bil­lion in lit­i­ga­tion costs.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.