Word: assets
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...British companies and investors seized the new freedom with both hands. In recent years, net foreign direct investment by British companies has run between $55 billion and $70 billion a year; net portfolio investment abroad, almost nonexistent before 1979, is around $170 billion. In terms of its net foreign asset position, Britain ranks third in the world after Japan and West Germany...
...over the last decade, Bok broke out of his narrow focus on Harvard alone. Emerging as a spokesperson for higher education as a whole, Bok increasingly touted the research university as a major asset that can help solve the nation's social and economic problems...
...such close advisers as Secretary of State James Baker, leading the Washington establishment to conclude that he had "done another Quayle." Sununu was obviously brilliant: a three-term Governor of New Hampshire and former engineering professor with an IQ estimated at 180. He had been an invaluable political asset, rescuing Bush's faltering campaign by masterminding a victory in the New Hampshire primary. But he lacked any experience in the clannish world of Washington and was so relentlessly abrasive that one wag dubbed him "Morton Downey Jr. with a Ph.D." The smart money gave him at most a year...
With scores more S&Ls designated for sale or closure in the weeks ahead, the legacy of fraud is likely to keep paying handsomely for asset chasers like Pankau. His firm claims to have increased its revenues 50% in each of the past five years, and plans new offices in such growing white-collar-crime capitals as Arizona and Florida. Pankau has even taken a few lessons from the bad guys, spreading the ownership of his company among his three children, through trusts. That, he explains, is partly to protect himself from liability suits in case any of his targets...
...First, some of the S&L assets are good. For example: the home of David Paul, until recently chairman of Miami's CenTrust Savings. CenTrust is the thrift that it's estimated will cost taxpayers $2 billion; Paul is the man who bought a $13 million Rubens for the bank but hung it in his home for safekeeping. And what a home! I was only allowed to see the guesthouse -- 8,200 sq. ft. -- which the real estate agent thought was unoccupied. Instead, we found toddlers downstairs with a nanny and, upstairs, a freshly unmade bed with a large...