GAP is no longer the largest clothing retailer in the world after it was overtaken by Spanish rival ZARA.

While ZARA has been expanding rapidly for the past few months, US-based GAP was suffering from the slowing down of US economy, with its customers in America cutting down spending.

GAP was founded in San Francisco, California almost 40 years ago in 1969. It operates more than 3,000 stores worldwide with major presence in United States, United Kingdom, Canada, Japan, Korea, Malaysia, Philippines, Singapore, Indonesia and so on. GAP employs more than 150,000 staff throughout the world.

Its competitor ZARA was established about 5 years after GAP’s inception with its first shop opened in A Coruna, Spain. The company’s strength lies with its ability to develop and launch products within weeks, compared to the normal, industrial standard of few months.

ZARA produces 10,000 new designs every year, offering its products in Spain, France, UK, Mexico, Japan, Brazil, US, Chile, Panama and many other countries. And contrary to GAP, which spends overwhelming budget for marketing, ZARA adapts zero advertising approach and roll over its revenues to open more outlets.

2 engineers and one executive from a well-known oil and gas company, together with the company and its subsidiary, are being sued by a consultant after a series of nasty emails broke his family apart and ended his marriage with a divorce.

Full story in The Star here.

The three workers were sued for alleged sexual harassment, defamation and abuse of power.

In the claim, Baharruddin Hamzah, the consultant, stated that the company workers have been sending emails, using the company’s email and domain, to his wife containing pornographic materials and some offensive wordings beginning on July 2007, and continues until recently.

After finding out about the emails, an argument and fighting broke, which resulted his wife moving out from their house. They later divorced. Worse, their three children also discovered about the email circulation, and added to embarrassment and loss of dignity.

The consultant is seeking RM10 million in compensation.

Starting a business is no easy journey. It comes with a lot of pain, anguish, disappointment and even anger.

That’s why when someone suggests to you the idea of buying a business instead, you should not scoff at the idea immediately. There is truth when they say buying a business idea is like buying a success, provided you do it right.

If you know what you’re doing and do enough homework, you’re set for to embark on a very successful business venture.

Here are 5 reasons why should consider buying a business:

1. Ready market

Establish businesses already have their own market and customer base. If you’re lucky, you may just get hold of one of the most popular brands in the city. The first thing you need to do once you takeover the business is to locate and identify your market, sustain it, and grow it beyond the current boundaries. You might as well take a local business and break into the international market.

2. Reduce financial risk

If you do a thorough analysis and find out that the business can generate a positive cashflow the day you takeover the business, then you’re up for a good time ahead. Just make sure that the business you are buying is not embroiled in deepening financial crisis. If it is necessary, send a professional team to evaluate how the business is run, and draw a projection of how it will do financially in the next 3 months.

3. Skip paperwork hassle

Many a time, the eagerness to start and operate a business was cut short due to the paperwork associated with it. Registering your company, applying for council permit, licensing and other administrative and paperwork tasks are both time and energy consuming. In a way, buying a business is like leaping into a car rolling on a fourth gear. Your job is to shift it into fifth gear. No need warming up of engine.

4. Easier path for financing

It is estimated that out of those start up companies applying for financial assistance, as much as 90% of them are rejected. A business which is run profitably can cut the frustration of getting financial assistance, so you can grow it faster than anyone can imagine. Good record keeping, coupled with prudent management and potential growth of the business will make it easier for the banks and financial institutions in lending loans.

5. Faster break even period

Again, buying the right business is like jumping into a stream of cash. While you may part with a significant amount of money, always consider the cashflow the business will bring on daily, weekly or monthly basis. If a new start up business may take years to break even, you newly acquired business may take much shorter time to start generating profits.

The cons? Later.

The Manpower Department (Jabatan Tenaga Kerja) of the state of Pahang will be organizing a career fair on 16-17 August 2008.

Exhibitors will be made of private companies and government departments.

Job seekers can find full time, part time, internship and training opportunities during the event.

All are welcome to attend. To be able to attend walk-in interviews, those interested to come are advised to bring their documents such as resume, and photocopies of academic transcripts and certificates.

Details:

Event: Pahang Career Fair (Karnival Pekerjaan Pahang)
Date: 16 – 17 August 2008 (Saturday & Sunday)
Venue: Kompleks Penyiaran Pahang (RTM Pahang), Jalan Kemunting 2, Tanah Putih, Kuantan
Time: 8am-5pm