Word: stakes
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...Corp. (Vanity Fair) and Sara Lee (Playtex, Wonderbra), the company lost $338 million. Trading in Warnaco's stock, which reached $44 in 1998, was suspended last week after it tumbled to 39[cents] a share; Wachner resigned from the board of the New York Stock Exchange. Her personal stake in the company has plunged from around $200 million to $1.8 million...
...online access. For AOL, which already has a presence in 17 countries, the venture is its most ambitious in Asia. China is potentially the world's largest Internet market, but so far Net companies aren't finding it profitable. The partners haven't ruled out buying a controlling stake in one of the country's troubled portals. But for now, the idea is that Legend's PCs will be sold Internet-ready for the home market, with easy-to-follow instructions to get buyers quickly up on AOL's trademark services. To help attract Chinese surfers, the partners plan...
...their first formal meeting, a whirlwind visit by Legend's top executives to AOL's Dulles, Virginia headquarters in June 2000. They decided almost immediately that it would be an equal partnership, according to Legend CEO Yang Yuanqing. (To comply with current China law, Legend will have a 51% stake.) The partners also quickly agreed on a business model that would combine Legend's hardware and AOL's Internet services. "There were problems throughout the negotiations," concedes Yang. "But from the beginning, both sides had a clear direction...
...half concealed by red lighting and a haze of incense smoke. He insists government reforms are being orchestrated by officials with ties to larger funeral companies that want to see firms like his go belly up. Threatening these officials' lives is necessary to "show the public what's at stake," he says, twisting a diamond-crusted ring around his fat forefinger...
...Lately, however, the baron's luck has turned bad: a financial time bomb has exploded under his feet. Seillière's troubles started when a friend persuaded him to invest $40 million for a 51% stake in the private French airline AOM in 1999. Though Seillière knew nothing about the airline business, he was assured that SAirGroup, the parent company of Swissair, would manage everything. More than Seillière's money, the Swiss needed him to serve as majority shareholder because European Union regulations bar non-E.U. investors from controlling E.U. companies...