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Deficient management leads INDITEX on the verge of fail
BUCHAREST,
ROMANIA - Zara wants to cover losses from theft with employees’
money.
The management, theft and losses give headaches to the Spanish
group INDITEX, the owner of the ZARA chain. Only 10 months before, on
July 25th, 2011, the publication Ziarul Financiar
announced the fact that “INDITEX takes the manager from the
Douglas perfumeries” pointing at Paul Cuza, who previously had
the function of General Manager for Parfumerie Douglas SRL.
Currently, the Romanian INDITEX group performs salary and structural
changes without precedent, which the management team from Bucharest doesn’t want to explain.
The problem of the clothes theft is a known phenomenon, especially
when it comes to expensive brands such as ZARA or Massimo Dutti. The
phenomenon was publicly recognized even by the management of the
INDITEX Group Romania, two years before. Probably worried by this
fact, Mihai Cioltea, the development manager of the INDITEX Group
from Romania, also named by the press as “the Zara man”,
stated in 2010 for the economic website InCont the following: “They
steal a lot. Only for the stores in Bucharest we have 10 cases of
stealing per day, which we discover and, depending on the severity,
we call the police”.[...]
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Prudential Mutual Funds
Supplement dated March 17, 1997
The following information supplements the Prospectus of each of the Funds
listed below:
SHAREHOLDER GUIDE
HOW TO BUY SHARES OF THE FUND--CLASS Z SHARES
Class Z shares are currently available for purchase by the following
categories of investors: (i) pension, profit-sharing or other employee benefit
plans qualified under Section 401 of the Internal Revenue Code, deferred
compensation plans and annuity plans under Sections 457 and 403(b)(7) of the
Internal Revenue Code, and non-qualified plans for which the Fund is an
available option (collectively, Benefit Plans), provided that such Benefit Plans
(in combination with other plans sponsored by the same employer or group of
related employers) have at least $50 million in defined contribution assets;
(ii) participants in any fee-based program or trust program sponsored by
Prudential Securities Incorporated (Prudential Securities), The Prudential
Savings Bank, F.S.B. (or any affiliate) which includes mutual funds as
investment options and for which the Fund is an available option; (iii) certain
participants in the MEDLEY Program (group variable annuity contracts) sponsored
by The Prudential Insurance Company of America (Prudential) for whom Class Z
shares of the Prudential Mutual Funds are an available investment option; (iv)
Benefit Plans for which Prudential Retirement Services serves as record keeper
and as of September 20, 1996, (a) were Class Z shareholders of the Prudential
Mutual Funds, or (b) executed a letter of intent to purchase Class Z shares of
the Prudential Mutual Funds; (v) the Prudential Securities Cash Balance Pension
Plan, an employee defined benefit plan sponsored by Prudential Securities (only
applicable to Prudential Equity Income Fund, Prudential Europe Growth Fund, Inc.
and Prudential Pacific Growth Fund, Inc.); (vi) current and former
Directors/Trustees of the Prudential Mutual Funds (including the Fund); and
(vii) employees of Prudential and/or Prudential Securities who participate in a
Prudential-sponsored employee savings plan.
Listed below are the names of the Prudential Mutual Funds and the dates
of the Prospectuses to which this supplement relates.
Name of Fund Date of Prospectus
The Global Government Plus Fund, Inc. February 28, 1997
The Global Total Return Fund, Inc. February 28, 1997
Global Utility Fund, Inc. November 29, 1996
Nicholas-Applegate Fund, Inc. March 4, 1997
Nicholas-Applegate Growth Equity Fund
Prudential Allocation Fund September 27, 1996
Prudential California Municipal Fund
California Income Series November 1, 1996
California Series November 1, 1996
Prudential Diversified Bond Fund, Inc. September 12, 1996
Prudential Dryden Fund November 29, 1996
Prudential Emerging Growth Fund, Inc. November 18, 1996
Prudential Equity Fund, Inc. March 5, 1997
Prudential Equity Income Fund December 30, 1996
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Name of Fund Date of Prospectus
Prudential Europe Growth Fund, Inc. July 2, 1996
as supplemented
September 12, 1996
Prudential Global Genesis Fund, Inc. September 12, 1996
Prudential Global Limited Maturity Fund, Inc. December 30, 1996
Limited Maturity Portfolio
Prudential Government Income Fund, Inc. April 30, 1996
as supplemented
September 12, 1996
Prudential Government Securities Trust
Money Market Series February 3, 1997
Short-Intermediate Term Series February 3, 1997
U.S. Treasury Money Market Series February 3, 1997
Prudential High Yield Fund, Inc. March 6, 1997
Prudential Intermediate Global Income Fund, Inc. February 28, 1997
Prudential Jennison Series Fund, Inc. January 13, 1997
Prudential Jennison Growth Fund
Prudential Jennison Growth & Income Fund
Prudential MoneyMart Assets, Inc. February 28, 1997
Prudential Mortgage Income Fund, Inc. March 5, 1997
Prudential Multi-Sector Fund, Inc. June 28, 1996
as supplemented on
September 12, 1996
Prudential Municipal Bond Fund September 12, 1996
High Yield Series
Insured Series
Intermediate Series
Prudential Municipal Series Fund
Florida Series November 1, 1996
Massachusetts Series December 2, 1996
New Jersey Series November 1, 1996
New York Series November 1, 1996
Prudential Natural Resources Fund, Inc. September 12, 1996
Prudential Pacific Growth Fund, Inc. January 7, 1997
Prudential Small Companies Fund, Inc. January 24, 1997
Prudential Structured Maturity Fund, Inc. March 3, 1997
Prudential Utility Fund, Inc. March 5, 1997
Prudential World Fund January 16, 1997
Global Series
International Series
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MF970C-5 (3/14/97)
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