One reason structured notes are being issued at a rapid pace is the rise in interest rates in the past several years.

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While International expansion has grown at a faster pace in the last few years, Ebeltoft Group notes that retailers tend to penetrate similar markets when expanding internationally.

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And although DirecTV is technically the leading U.S. satellite provider, Merrill Lynch analyst Vijay Jayant notes that EchoStar is now growing at a faster pace, having added 1.35 million subscribers in 2002 while DirecTV was adding 850, 000.

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