Word: armfuls
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...executives received other payments now being examined. Black, Amiel and the executives are affiliated with a private firm called Ravelston Corp., which received $203 million from Hollinger from 1995 to 2002 for so-called service agreements. Hollinger admitted in March that these agreements "were not the result of arm's length negotiations between independent parties" and thus may not be favorable to the company. Yet Hollinger's board signed off on some of the payments. On Friday the firm said it had understated taxes by at least $17 million because of "inaccuracies" in previous disclosures. Making matters worse for Black...
...dotcom by his former boss at Disney (now eBay CEO), Meg Whitman. At the time, in 1999, eBay had 400 employees; now it has 5,600. Its share price has grown 33-fold. Worldwide, $23 billion in transactions will pass through the eBay marketplace in 2003. Jordan's U.S. arm handles $14 billion of that. "There's a friendly competition not to let the rest of the world catch up," he says...
...like a person that just quit surfing after this, I wouldn't be a real surfer." BETHANY HAMILTON, 13, who while surfing in Kilauea, Hawaii, last month had her arm bitten off by a shark...
...allegedly funneling $166,000 from a faltering commercial bank into a private political research institute set up by Roh. Meanwhile, investigators from the Supreme Public Prosecutors' Office recently raided offices at Samsung Electro-Mechanics, part of the Samsung Group, the country's largest conglomerate; Hyundai Capital, the auto finance arm of automaker Hyundai Motor; and LG Shopping, an online shopping subsidiary of Korea's No. 2 conglomerate. Prosecutors are seeking evidence that the companies gave contributions illegally to political campaigns, including Roh's. A spokesman for Samsung said the group was "not involved with the election process illegally." The other...
...current campaign-financing investigation is different from past scandals, however, because it is the first to take aim at a sitting President. Touched off this year when auditors looking into possible accounting fraud at SK's trading arm, SK Global, uncovered a multimillion-dollar political slush fund and bank accounts linked to both Roh's campaign and those of the opposition Grand National Party (GNP), the probe is unprecedented in scope and scale. Political pundits are comparing the dragnet to Italy's "Clean Hands" crackdown of the early 1990s, when reform-minded investigators sent hundreds of businessmen, bureaucrats and prominent...