July 10, 1991 |
At first, it seemed that something got lost in the translation. When the Bush Administration and Congress set up "enterprise funds" in Hungary, Poland and Czechoslovakia, they envisioned an Eastern European equivalent of venture capital operations, selectively planting investments that would grow into thriving businesses.
June 22, 1990 |
This East European nation took a major step along the capitalist road Thursday with a splashy reopening of the Budapest Stock Exchange, where the "big board" can display only five listings and where Hungarian buyers, who have no checkbooks, pay with satchels full of cash. The rebirth of Western-style trading after a 42-year shutdown was highlighted by listing of the state-owned Ibusz travel network, the first major Hungarian enterprise to begin privatization with a public share issue.
May 22, 1990 |
A Hungarian proverb holds that when a listing rider attempts to right himself in the saddle, he usually falls off the other side of the horse. And this, liberal politicians say, is what has happened to Hungary's drive to transfer state-run industries to private ownership: First the government gave away the store, and now it is wary of all foreign investment, the key to economic recovery.
November 24, 1989 |
A lot of Hungarian companies are looking for foreign partners these days, but probably few are as prosperous as Zoltan Wlassics' Kandelaber Ltd., based in this village a few miles north of Budapest. Unlike many of those other companies, Wlassics has enough of his own money to expand his decorative lamp and cast iron business.
September 8, 1989 |
In the bowels of the city, polyester sticks to sweaty skin and buses belch exhaust. But on a hillside patio high above the traffic's din, the afternoon breeze wafts the fragrance of apricots through the air. A servant glides silently, bearing mineral water in crystal pitchers and trays piled high with finger sandwiches.
June 25, 1991 |
The champagne bar in one corner of Istvan Kosa's jewelry and crystal shop is a big hit with Austrian men dragged along by their wives on cross-border bargain hunts. "You see, it's good for my business if the women feel they can spend as long as they want trying on different necklaces and rings. But the husbands usually get very bored," explains the private businessman, who opened his dual-purpose boutique along Sopron's main shopping street in late May.