1.   Although most firms operate only one plant, many firms own and operate a number of plants.

2.   Business risk is the risk imposed by the business and economic environment in which the firm operates.

3.   But eight foreign securities firms are already operating in Seoul.

4.   The firm operates schools under contract to state education authorities.

5.   With the vast majority of suburban commuters unable to get to New York, brokerage firms were operating with skeleton staffs.

6.   This approach examines the fundamental behaviour of the firm and also the economy in which the firm operates.

7.   If the firm is operating at MES, the opportunity to expand output will not result in lower costs.

8.   A spokesman for Kaifa Technology, headquartered in Kwai Chung, said the firm operated a factory in Shenzhen, where it assembled components for computer hard disk drives.

9.   He estimated that several hundred people might lose their jobs, adding that much of the savings would come through consolidating offices in cities where both firms now operate.

10.   However, there could be consolidation in New York, where both firms operate high-yield bond departments.