Too often attention is focused on government meddling in the
economy. At the same time, others call on the state for a fix.
But there are companies that are mixing their own medicine.
Look at Uniceramic. Despite a slump in sales last year, profits continued
to rise. This is a result of a massive restructuring program
that reduced expenses, improved products and changed its marketing
strategy.
In the middle of Lebanon’s worst real estate downturn, Massaad
Fares is selling property at some of the highest prices in the city. A
strategy unique in Lebanon, he focuses strictly on demand and doesn’t
build just for the sake of it. Société des Ciments Libanais is doing
its best to get around the Lebanese taboo, laying off workers to
counter another year in the red.
After the war, the situation at Trans Mediterranean Airways (TMA)
<mark>spiraled</mark> out of control. It was stuck with a few old planes, was losing
money and faced stiff competition. But since Fadi Saab came
on board, TMA has been given a major overhaul. It is now making
profits again. That is the opposite of what is happening at MEA, a
state-run enterprise. It has 433 employees for each of its nine airplanes,
the highest in the world, never makes money and is not doing
anything about it.
Perhaps the private sector should be the leader in bringing this economy
back to life and let the government fix itself.
