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US Files Case Against Chinese Subsidies
Economic Assistance Available for US Textile Mills
Vietnamese Cotton Processing Plants Close
International Lingerie Fashion Show
International Lingerie Fashion Party Pictures
Eldorado Raises Over 4000 Pounds of Food for Charity
International Lingerie Fashion Show Continued
Pink Bras for Christmas
Woolworths Close All Stores
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January 1, 2009
US Files Case Against
The US government on December 19, said it had begun legal action at the World Trade Organization to try to
put a stop to various subsides provided by the Chinese government to help boost sales of Chinese-branded
merchandise around the world.
The US Trade Representative's office said the subsidies include cash grant rewards for exporting, preferential
loans for exporters, research and development funding to develop new products for export, and payments to lower the cost of export credit insurance.
Among the industries that benefit are textiles and apparel, it said, adding
that the subsidies "may unfairly alter the competitive landscape around the
world for any industry competing with these Chinese products."
The USTR also said China's textile sector is helped by "other apparent export subsidies" which help products
irrespective of whether they are famous brands.
"We were disturbed to find that China still appears to be using WTO-illegal measures to promote its exports,
ranging from textiles and refrigerators to beer and peanuts," Ambassador Susan C Schwab said.
"We are going to the WTO because we are determined to use all resources available to fight industrial
policies that aim to unfairly promote Chinese branded products at the expense of American workers, farmers,
ranchers, manufacturers and intellectual property owners."
The US added it is concerned "not only because these programs appear to incorporate export subsidies (which
are generally prohibited by applicable WTO rules), but also because of the protectionist industrial policy
apparently underlying these programs."
The request for dispute settlement consultations with the Chinese is the first step in a WTO dispute.
Under WTO rules, parties that do not resolve a matter through consultations within 60 days may request the
establishment of a WTO dispute settlement panel.
Available for US Textile Mills
US textile mills can now qualify for financial help to
modernize their facilities after the United States Department of Agriculture extended a program of
benefits to the sector.
The funding is available to textile manufacturers participating in the Economic Adjustment Assistance
Program authorized by the Food, Conservation, and Energy Act of 2008.
Under this initiative, the Secretary of Agriculture will provide assistance to US textile manufacturers who
invest an equivalent amount of funds in capital improvements to their operations by acquiring,
constructing, installing, modernizing, developing, converting or expanding land, plant, buildings,
equipment, facilities, or machinery.
Payments under the program are based on the amount of cotton (domestic or foreign) consumed by the textile
manufacturer after August 1, 2008.
Larry McClendon, chairman of the National Cotton Council (NCC), said the program "will help the industry
improve its competitive position in the textile and apparel marketplace."
While Anderson Warlick, chairman of the National Council of Textile Organizations and NCC director,
added the release of funds "is critically important given the financial challenges faced by US textile
Tia Lyn's NY Fashion Show with beautiful models of ALL SIZES!
Vietnamese Cotton Processing
Three cotton processing plants in Vietnam's Central
Highland region have been forced to shut down because they have not got enough cotton raw materials for
production, said the country's National Textile and Garment group Vinatex.
The plants, which Vinatex invests in to provide cotton products for the group, have total capacity of 30,000
tons/year and are located at the provinces of Dac Lac, Dac Nong and Gia Lai.
Made in Vietnam cotton products are also struggling to win over domestic producers amid fierce fierce
competition from imported cotton enjoying low tax as a result of Vietnam's WTO entrance.
Many cotton farmers in the country are destroying their cotton plantations to grow other plants like rice and
During the first half this year, cotton imports turnover to Vietnam reached
totaled US$222.9m, up by 63.5% against same period 2007.
A Model wears Body Zone
Lingerie Fashion Show. Photo by Jerome
Wal-Mart Moves to
Takeover D&S Group
Supermarket giant Wal-Mart Stores Inc is launching a cash bid for Chilean supermarket group Distribucion y
Servicio D&S SA, in a move that will give it a significant foothold in the South American market.
Wal-Mart has offered US$0.408 per common share, representing a 37.4% premium on the average closing
price over the past month. The tender is expected to commence December 23, the company said.
As a condition of the offer, Wal-Mart said it must acquire a minimum of 50.01% of D&S's fully-diluted
The Ibañez family, the current D&S controlling shareholder, has already agreed to tender an
unspecified portion of shares.
The family will enter into a long-term stockholders' agreement with Wal-Mart regarding D&S, which will
continue to operate with its existing leadership, associates and brands.
Wal-Mart said moving into Chile is an important step in its international strategy.
"A successful tender offer will give Wal-Mart the opportunity to be a significant participant in Chile,
which continues to have a strong and growing economy among South America countries," said Michael T Duke,
vice chairman, Wal-Mart Stores.
Although D&S' core business is food retail, it also sells clothing in its Hiper Lider hypermarket chain.
46 Mervyns Locations Won
by Kohl's and Forever 21
Department store operator Kohl’s Corporation and fellow US retailer Forever 21 have won a joint bid at auction
for leaseholds to 46 retail sites run by bankrupt chain Mervyns.
Together the retailers paid approximately $6.25m for the sites, with Kohl's to assume 31 of the locations
and Forever 21 to take 15.
"We are pleased with the results of the auction," said Kevin Mansell, president and CEO for Kohl's Department
"With over 1,000 stores from coast to coast, these locations provide increased presence in under
"We will continue to be opportunistic and prudent in our discussions with the owners of select Mervyns real
estate as we continue to position Kohl's to grow market share."
In fiscal 2009, Kohl's expects to open approximately 50 stores, including the majority of the 31 former
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