Word: stakes
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...Times had offered to buy the Post's 50% stake in the Herald Tribune, but the Post didn't want to sell. Then the Times made like Don Corleone: it threatened to start a competing international edition and choke off any further subsidy of the Herald Tribune, which lost about $5 million last year. Graham responded with an indignant internal memo accusing the Times of "threatening the future of the newspaper and its staff." Graham concluded, however, that continued joint ownership of the Herald Tribune was "untenable." The talks ended with the Times's signing a letter of intent...
...Senate and the House, campaigning for state and local judgeships has increasingly become part of the modern, big-money political world. Spending on Supreme Court campaigns in the 38 states where such judges are elected jumped 61% between 1998 and 2000, according to the nonprofit group Justice at Stake, and is on track for another big increase this year. Outside interests such as the Chamber of Commerce, pushing a nationwide campaign to cap jury awards, as well as trial lawyers and labor unions, are pouring money...
Jewish students have no less of a stake in the matter. Across the country, they have suffered a number of ugly incidents due to their religion and their stance on Israel. At the University of Colorado there were reports of swastikas painted at a booth set up by a Jewish student organization. At the University of California Berkeley, a brick was thrown through a glass door at the Jewish Hillel center. Such actions are intolerable...
Perhaps the "vigorous exchange" between Tony Blair and Jacques Chirac over agriculture policy put Vivendi CEO Jean-Rene Fourtou in the mood for an old-fashioned Anglo-French spat. It's tough to see why else Fourtou last week rejected Vodafone's €6.8 billion offer for Vivendi's stake in mobile-phone operator Cegetel. The sale could have eased Vivendi's crippling €19 billion debt. Just as importantly, to retain control of Cegetel Vivendi must now pre-empt Vodafone's bid for the shares held by BT and SBC, costing the cash-strapped company between...
...threat to the financial system." As the economic slump continues, banks are slimming down. As part of a program to take [EURO] 2 billion off its cost base by the end of next year, Deutsche has laid off 10,000 staff and dumped assets. Last month, it sold its stake in Deutsche B?rse, raising around [EURO] 360 million, and this week it hopes to announce the sale of its custody business for up to [EURO] 1.2 billion. Still, it will take more than that to regain the confidence of investors, who've sent shares in Germany's three largest banks...