Word: penta
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...filling the city's coffers, such as charging entrance fees to cemeteries. And this is only the beginning: A recent KIIS survey revealed that 41% of Ukrainians are ready to hit the streets. "There is a crisis of trust in the authorities," says Volodymyr Fesenko, director of the Penta Center for Applied Political Studies in Kiev. "There is a risk of a chain reaction leading to what happened in Riga," he adds, referring to when angry Latvians, protesting their government's handling of the crisis, tried to storm parliament in January...
...defense contractors, just below such industry giants as Lockheed Martin and Boeing. L-3's fast start is widely credited to CEO Frank Lanza, 71, who was head of Loral Corp., maker of electronic warfare systems, when it was sold to Lockheed in 1996. With partner Robert La Penta, then a Loral executive, and financing from Lehman Bros., Lanza bought 10 Loral electronic-manufacturing divisions, glued them together, bulked up their research-and-development units and named them L-3 (for Lanza, La Penta and Lehman Bros.). Lanza took the company public in 1998. Now L-3 thrives...
...well-heeled, spending-friendly stratum of society that marketers circle like cats at a sushi bar, proffering exclusive riding clubs in the West or 400-year-old farmhouses in Italy. The minimum net worth for the World's condo buyers is $5 million, an elite group that marketers call "penta-millionaires." The niche might seem rarefied, but data issued in February by the Spectrem Group estimate that the U.S. has 531,000 such households, with an average net worth closer to $10 million...
...penta-millionaires are alike. The split is generally by age--of the people and of their wealth. The World's typical buyer is just over 55, with a self-made fortune and three residences. With plenty of cash and plenty more expected, they see little need to conserve wealth. Today's new money increasingly covets exotic experiences more than fancy trappings, according to Iconoculture, a research company hired by J.P. Morgan to track wealth culture in 12 cities. Larry Samuel, a partner in Iconoculture, thinks the World taps perfectly into today's moneyed mentality: "If bragging rights are defined more...
...veteran whose father founded what is now Norwegian Cruise Line. Kloster originally planned a ship with 286 condos and 183 hotel rooms. After scaling back, he was able to attract investors, including the Continental Casualty Co., a subsidiary of Chicago-based insurance giant CNA Financial Corp. But to persuade penta-millionaires to buy, ResidenSea assembled a cadre of credible associates, including its blue-chip investor Silversea Cruises, which will manage maritime and hotel operations. ResidenSea also marketed through sophisticated make-believe. Inside a factory near Vienna, the company built condo mock-ups so inviting that some residents bought...