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Now it plans to attack rural markets, a tough call.At least P&G chose a weak joint-venture partner it could control.
That joint venture has had weak marketing, however, and Mr. Murtaugh described it as "a troubled operation".
Consider a joint venture between a weak European auto company seeking to improve its manufacturing effectiveness and a strong Japanese auto manufacturer.
One candidate may be a joint venture in Brazil that had weak earnings last year.
The Sony and LM Ericsson joint venture continues to suffer from weak demand, though it said its looking to return to profitability as quickly as possible.
Weak consumer spending in Japan will force the dissolution of the joint venture that operates Time Warner's licensed-character retail stores there.
One U.S. pharmaceutical company underestimated the importance of having a strong joint venture partner when it paired with a relatively weak Japanese player.
Fiat is the market leader in the rapidly expanding Brazilian market, but apart from a truckmaking joint venture between Iveco and SAIC in China, it is weak in China, India and Russia.
The minivans, which G.M. builds in a joint venture with a Chinese partner, have a quarter the horsepower of American minivans, weak acceleration and a top speed of 81 miles an hour.
There are still plenty of obstacles here, including weak intellectual property rights enforcement and a culture of copying or stealing technology from foreign companies or joint venture partners.
In the latest sign of the weak market for Internet stocks, the offering price range for shares in America Online's Latin American joint venture with the Venezuelan media giant Cisneros Group has been cut to $8 to $10 from $15 to $17, analysts said yesterday.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com