Ekhart, Indiana, is the RV capital of the world.
Until recently, Carrefour's supermarkets in France were run along Napoleonic lines. Strict orders emanated from its headquarters in Paris. Every store sold a similar range of products. If selling groceries were like marching an army over the Alps, this strategy would have worked brilliantly. But it isn't, and it didn't. At the big Carrefour in Monacoout went the racks of cheap luggage, of the sort chic locals would be embarrassed to see their servants carrying.
Mr Abe promised that Japan would enter trade negotiations to join the American-led Trans-Pacific Partnership (TPP) – though he offered no promise to eliminate tariffs of up to 777.7 % on rice.
Big pickups are seen in the car industry as a leading indicator: rising sales point to Americans starting to build kitchens, fix roofs and hire contractors.
Family history has large effects that persist for much greater spans of time. Fathers matter, but so do grandfathers and great-grandfathers. Indeed, it may take as long as 300–500 years for high- and low-status families to produce descendants with equal chances of being in various parts of the income spectrum.
Some 3m wrecks pepper the ocean floors, according to the UN (though few contain riches). Finding them involves lengthy research and lucky breaks. Recovery can take months of work by specialist crews. Of 52 annual reports filed by publicly listed shipwreck-recovery firms since 1996, only five show a net profit.
Acquisitions can also be a form of financial engineering. This was a favourite game of the conglomerates of the 1970s and 1980s. A company with highly rated shares would bid for a group with poorly rated equity. Say Acme has 100m shares, earnings of $10m (earnings per share of 10 cents) and a share price of $2 (a price-earnings ratio of 20). Grotco has the same earnings and number of shares but its share price is just $1 (a p/e of 10). If Acme makes an all-share bid valuing Grotco at $1.20, it will need to issue 60m new shares. The combined group will have $20m of earnings, 160m shares and earnings per share of 12.5 cents. With the help of nothing more than maths, Acme's earnings per share will have jumped by 25 %. Merger booms usually peak with the kind of deal that resembles a Las Vegas wedding after an alcohol-fuelled night: both parties regret it in the morning.