Biz Scene: GRAPEVINE
Pig domain names prized
Chinese domain names featuring xiaojinzhu (little golden pig) xiaojinzhu.com, xiaojinzhu.net and xiaojinzhu.cn were recently auctioned on taobao.com with a ceiling price of 888,888.88 yuan.
The vendor, surnamed Zhou from Xuzhou, East China's Jiangsu Province, said the domain names targeted this year's baby boom. According to the Chinese lunar calendar, 2007 is the Year of the Golden Pig, a particularly auspicious year that comes round once every 60 years. As such, a baby boom may sweep Asia as couples try to ensure a happy, lucky and wealthy life for their children.
Lenovo to cut 1,000 jobs
Lenovo Group Ltd has approved a preliminary plan to slash more than 1,000 jobs to cut costs, as price competition remains intense, Bloomberg said yesterday, citing an anonymous source.
The job cuts would come mostly in the United States, and while most would be layoffs, some workers will be reassigned. The move would cost between $50 million and $75 million in a one-time write-off, according to the source.
Lenovo hopes the plan will save it between $150 million and $175 million annually. The move comes about a year after a similar plan to lay off 1,000 workers was announced.
(China Daily 02/28/2007 page15)
