Penney and new customers thought the merchandise was too shoddy.

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But Japan and South Korea have both overcome images of being producers of shoddy products, and Song is confident Goodbaby will do that, too.

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It cites shoddy due diligence, a lack of synergy between the two companies, too little planning and lousy execution of deals.

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The problems of Asia's financial firms are due not to too much competition, but to over-protection and cronyism, which have encouraged shoddy lending and poor cost-control.

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But, as Gurley pointed out, marketing departments too often hijack the formula to fatten budgets and delay accountability while sabotaging its variables with shoddy inputs.

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