Word: consortium
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...Sharks are currently owned by an unlikely consortium that includes a Shanghai media group, a domestic airport operator and a state sports institute. According to China's official news agency, Xinhua, Yao is in the process of buying out shares from some major investors. No estimate has been released, however, of just how much Yao will spend on his former team, for which he started training as a young teenager. (See 100 Olympic athletes from the Beijing Games...
...massive energy reserves. In a day-long auction of eight huge oil fields - some of the world's biggest - virtually all the 41 foreign companies invited to bid by the Iraqi government balked at the Baghdad terms. The only contract signed was a 20-year deal for a consortium led by BP and China's National Petroleum Corporation to develop the giant Rumaila field in southern Iraq. "Frankly I did not think it would be such a fiasco and embarrassment for the government," says Rochdi Younsi, Director of Middle East and Africa for the Eurasia Group in Washington. "It shows...
...Washington Getting Warmer The Obama Administration's first climate-change survey found "unequivocal" evidence of man-made global warming with potentially dire consequences in the U.S. Temperatures and sea levels are rising, rainstorms are strengthening, and snow cover is shrinking, according to the report by a consortium of federal agencies and research groups. One potential casualty: maple-syrup production, which may be displaced from New England to Canada as temperatures rise. The sobering report is sure to draw notice on Capitol Hill, where lawmakers are debating a landmark "cap and trade" emissions proposal...
...This week's uproar is reminiscent of a similar situation that unfolded last summer after the state government decided to transfer about 100 acres of land to a Hindu consortium. The move was designed to improve amenities for the thousands of Hindus who come to Kashmir each year to worship at a local cave-shrine. More than 60 people were killed in the protests that followed that policy. Incidents like these take both a personal and an economic toll: Hundreds of Indian and foreign tourists were driven out of the Valley this week, and tour operators say that many bookings...
Still, no one is predicting railroads will put airlines out of business. Railteam, a ticketing consortium of seven leading high-speed rail operators, aims to boost the number of people who now use fast trains for international European travel each year from 15 million to 25 million by 2011. That compares with some 160 million who travel across borders by air in Europe every year, a number that is expected to double by 2020. The railroads' relatively modest growth expectations are grounded in some harsh economic realities: new high-speed rail lines take years to plan and build as well...