Word: stakes
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...wake of the Fazio-Fiorani revelations, BPI's bid for Antonveneta has been blocked by magistrates, and its rival, Dutch bank ABN Amro, has taken a majority stake in Antonveneta, making it the first foreign owner of a major Italian lender. Meanwhile, Fiorani, under investigation for allegations of insider trading, market rigging and giving false statements, has resigned as BPI chief...
...process, the company, which once prided itself on its provincial roots in Baden-Württemberg, acquired a worldwide scale and presence in both cars and trucks--and bought some absolute dogs. That included a near bankrupt household appliance company (AEG), a teetering airplanemaker (Fokker) and a 37% stake in Japan's inept Mitsubishi Motors. Those and other investments drained management's attention and the company's account; Daimler's share of Mitsubishi's 2002-04 losses totaled more than $1 billion. The company's biggest acquisition, the $36 billion purchase of Chrysler Corp. in 1998, remains deeply controversial. The market...
...Gordon thinks the Silk Road residency is coming at a time when the shifting nature of the Core Curriculum may put the values of the Project at stake for the community at large: “The new curriculum is not likely to have a requirement like Foreign Cultures, nor a Historical Studies requirement per se…so a program like this is great...
...thing, the company's size will make it difficult for Icahn, whom Forbes estimates is worth $8.5 billion, to get enough of a stake to force his will on management. And many investors note that Parsons is already looking at a stock buyback (although a more modest $5 billion) and plans to split off 16% of the cable division. What's more, Parsons has the Time Warner board in his corner. He has presented spin-off scenarios and, according to a Time Warner insider, "the board has concluded there's no magic bullet...
...group." Ross, who over the years has been both Icahn's ally and foe, predicts that "unless there's a negotiated settlement, it's inevitable that this will get ugly." Look no further than Blockbuster for an idea of how nasty it could get. Icahn bought a stake in the company last year, and after management resisted his calls for change, Icahn publicly derided the CEO for taking an excessive pay package with the company losing money and called his budget "a spending spree." The stock has continued to slide...