Word: settlements
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...These "dissident" Names are what remains of an investors' rebellion against Lloyd's cash calls in the late '80s and early '90s as the asbestos and other losses totaling $12 billion started feeding into the system. Back in 1996, 95% of Lloyd's 34,000 Names agreed to a settlement offered by Lloyd's called Reconstruction and Renewal (R&R), which enabled them to cap any future losses by reinsuring themselves through a company called Equitas created by Lloyd's. But some 230 "refuseniks," believing they were the victims of something more than bad luck in the marketplace, refused...
Names with no stomach for further court action may take comfort from the judge's assertion that it was "high time" litigation in Britain and elsewhere ceased and exhorted Lloyd's itself to seek a "fair, overall settlement" with the dissidents--hammered out perhaps by an independent panel. Lloyd's, still wallowing in red ink (according to market estimates, losses could total as much as $4.5 billion for 1998-2000), has yet to respond. The refuseniks for their part are hoping for a deus ex machina in the form of criminal proceedings launched by U.S. government prosecutors who have been...
...under the circumstances, electotainment may not be so bad. An electoral crisis like this inevitably leads to anger and feelings of disenfranchisement. A sober, reasoned settlement, theorized on the New York Times editorial page and worked out behind closed doors, may be the quickest route to stability. Or it may leave people reasonably suspecting that they've been sold out by secretive mandarins. Say what you will about the bile-spewing cable culture of call-in shows and town halls, it's all about enfranchisement: zapping your e-mail to CNN or MSNBC, hustling down to a live camera shoot...
However, other major players in the battle against Napster began to soften their rhetoric, hoping the Bertelsmann deal would lead to an industry-wide settlement...
...prayer. I was about to leave for the mosque to lead the prayer. My wife tried to persuade me not to go. The Moustaribine [Israeli undercover forces disguised as Arabs] had sneaked into our neighborhood. We prayed at home. I switched on the TV. There were clashes near the settlement at Tawil Mountain, called by the occupiers Psagot [a Jewish settlement]. The children woke up. I wanted to take them to school. I gave my son Abdullah his pocket money. We left. My other son came to tell me that the city of Ramallah was under closure. Teachers and most...