As president of Federated Department Stores, Fred Lazarus Jr. keeps as sharp an eye on population changes as the census bureau. "The U.S.," he likes to say, "is currently undergoing a highly significant population movement." -Nowhere is the movement greater than in the West and Southwest, where some cities have grown 80% in the last ten years compared to a 15% overall U.S. growth. This week, Fred Lazarus thought it time to cash in on the "highly significant movement." He announced that Federated, the third biggest department-store chain in the U.S., will invest $20 million in a new link...

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