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Wed, September 27, 2006 : Last updated 19:47 pm (Thai local time)



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Home > Business > Uncertain times for at least a year





STREET WISE
Uncertain times for at least a year

As expected, The Economist was prominent among the foreign press in branding last week's coup a dangerous incident.

In the latest edition, the magazine said it was easy to start a coup but that anything could happen afterwards.

"Revising the Constitution may turn out, alas, to be an impossible task, so that the army regretfully has no choice but to remain in power ... Or the coup leader may restore 'democracy' but rig the system and install himself seemingly indefinitely ... Or things can go badly wrong, as they did in Thailand the last time men in khaki seized power ... Although the coup was apparently bloodless and accompanied by promises of an election in a year or so, no one has any real idea what will happen next."

It will be interesting to read what it says in the next edition, when it learns the reform council has decided to transform itself into a committee that will remain in power until the next election.

Price watches

Aside from Hermes, Mikimoto, Chanel, Lamborghini, Ferrari, Chopard and many other top brand names available at Siam Paragon, one more international brand - DeWitt - will make its debut at the mega-mall.

The line of mechanical watches will be presented at Yafriro Celebrer Le Temps boutique, which will stage its grand opening on Friday.

What is surprising is that among those present at the grand opening will be the owner of the brand, Jerome DeWitt. Notably, he is the fifth generation of Emperor Napoleon's family in the line of descent from his brother, King Jerome of Westphalia, and he decided to restore the passion that runs in the family for the finest wristwatches.

Obviously, he is one of Europe's celebs. But while tourists from many countries have reportedly cancelled their trips to Thailand for fear of political instability following the coup, Jerome DeWitt is undeterred and committed to showing up here.

There are two insights that I can draw from this.

First, his marketing team has done such a good job. They know where the real affluent people are. Many well-to-do Thais have bought luxurious timepieces, partly for investment.

Second, he knows Thailand's political climate is cool. Also, he has been to many places to promote his watches, including Kazakhstanr. Although part of the former Soviet Union, the country is peaceful and relatively rich. There, some 100 connoisseurs gathered to meet this passionate inventor and discover his timepieces. He must be expecting a similar happy experience here.

achara_d@nationgroup.com








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