Word: stakingly
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Testifying by videotape, Getty told jurors that a few days after sitting down with Liedtke, he had learned that the J. Paul Getty Museum had agreed to sell it's 11.8% stake in Getty Oil to Texaco. Getty, who controlled 40.2% of his family's oil company, described being approached by Texaco, which wanted to buy his shares. He explained why he agreed to make a deal: he feared that by keeping his shares while others sold out, he would be just a minority stockholder with no real power...
...days during the fall, the drama of succession unfolded inside the cavernous Great Hall of the People in Peking. At stake were the future of China's political leadership and the fate of its economic reforms. By the end of the Communist Party conference, 131 senior officials, mostly in their 70s and 80s, had agreed to step down from high positions. That spate of resignations, the biggest party shake-up in nearly a decade, prepared the way for the rise of a new generation of leaders who will guide China into the 21st century...
...midterm election year. Much as Reagan wants the Republicans to retain control of the Senate, where they hold a 53-47 majority, as a counterweight to the Democrat-run House, he knows that doing so will be no easy task. Two-thirds of the 34 Senate seats at stake in 1986 are held by Republicans. In the House, the Democrats are expected to retain, and perhaps strengthen, their 253-182 advantage...
...Holdings into a booming banking frontier: China. In 2001 the bank became the first foreign commercial bank to buy into a mainland counterpart since the 1949 communist takeover, and it is now the largest foreign financial institution there. But it is limited by regulation to owning just a minority stake in two mainland banks. One of Cheng's goals is to encourage Beijing to relax foreign-ownership regulations, part of a broader effort to help write China's banking history. --By Chaim Estulin/Hong Kong
...only weapon. Earlier this year, the German electronics manufacturer Siemens was officially told it couldn't acquire a majority stake in a Russian company that manufactures some defense-related equipment. Siemens had offered $200 million to $300 million for a 73% stake in the firm, Power Machines, but the deal was blocked by Russia's antitrust authority, reportedly for national-security reasons. The firm's owners said this month that they are negotiating to sell a majority stake to the Russian government instead. "Success automatically makes you a target," says Mikhail Kozhokin, vice president of KROS, a major Russian consulting...