And Korea is quietly connecting its national labs, historically great technical universities, and public utilities to conduct large-scale tests of cutting-edge smart grid technologies.
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Short-term margins might see some further declines but Daimler expects the economies of scale and cost-cutting inititatives to improve its margins to around 8% from 2013.
Industrial-scale units house thousands of animals, cutting the cost of production through economies of scale.
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Mr Greenspan has expressed anxiety in the past about the risks of cutting taxes on such a large scale at a time of budgetary pressure.
Brilliantly managed by Chairman and Chief Executive Lorenzo Zambrano, 54, its success stems from several interrelated factors: acquisitions, economies of scale, pricing power, ruthless cost-cutting -- all of which have been made possible by large and intelligent investment in communications technology.
They lack the specialists, up-to-the-minute knowledge about cutting-edge science, and the scale to become the low-cost player in the industry.
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Not only is the scale relatively modest, the measures themselves (such as cutting military spending and tightening welfare payments) are sensible.
Since there seems to be little alternative other than full-scale disaster, the opposition has hinted that it may accept cutting transfers to the provinces, to help balance the budget.
Cendant (nyse: CD - news - people ) was up 1.5%, after the company set a dividend on it common stock for 2004, and Waste Management (nyse: WMI - news - people ) said it was cutting 880 white collar jobs from its workforce, in a move to scale down expenses.
Because it involves no cutting, it can be done on people too old or sick to withstand full-scale surgery.
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