Word: assets
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...Chair Rohit Chopra ’04 says Lee’s extensive council experience may be her most valuable asset...
These marquee names say it all. Even companies once considered above suspicion are being subjected to increasing scrutiny. Under current accounting rules, management can essentially do whatever it pleases, says David Dreman of Dreman Asset Management, based in Jersey City, N.J. It can scatter explanations in impenetrable footnotes it is confident no one has the time or capacity to decipher. "There are enormous overstatements of earnings and understatements of expenses," he says...
Enron's unraveling can be traced to investors' first whiff of "off-balance-sheet" partnerships that hid billions of dollars of the company's liabilities. By the time Enron crashed, it was primarily a trading firm. It had relatively few hard assets to cushion its fall when business faltered and hidden debts came due. The risks aren't nearly so great at asset-rich companies like Tyco and GE. But, as with Enron, seasoned analysts have trouble determining whence, exactly, they derive their profits...
Last week Axel Springer said it would exercise its $662 million "put" option to sell to Kirch an 11.5% stake in broadcaster ProSiebenSat.1 Media. (A "put" option is a risk-averse instrument that gives the holder the right to sell an asset at a predetermined price.) It demanded that the payment be settled by April. Kirch challenged the move?s legality, since the deal?s structure was reportedly left open to accommodate changes in German tax law. But as with so many of Kirch?s corporate dealings, there are subplots within subplots...
...Manh's dealmaking prowess is probably his most valuable asset. "He's had to learn the art of being a consensus broker," says Thayer. "This guy is thoroughly working within the system, and perhaps will be more effective as a reformer because of that." Ho Chi Minh himself was renowned for bringing squabbling factions of his revolution together. If Manh can do the same and steer the party toward reform, he may prove to be Ho's political heir, at least...