Word: armfuls
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Things looked no better in Brussels. Since 1990 the European Commission, the executive arm of the 15-nation European Union, has exercised jurisdiction over all mergers between firms with combined revenues of $4.2 billion, of which $212 million must be within Europe. The GE-Honeywell deal easily met the criteria. When U.S. lawmakers ask what business it is of the Europeans if two U.S. companies want to merge, part of the answer is that GE alone employs 85,000 people in Europe and collected $25 billion in revenue there last year...
When Welch arrived at Monti's office on June 13, the Commissioner was flanked by seven aides. Monti stiffly read out his conditions. "It wasn't a negotiating session," said a GE lawyer who was present. GE, said Monti, had to sell 19.9% of the leasing arm in such a way that it "would assure nondiscrimination in the purchasing policies of GECAS...
...They kick up fusses. They have to be convinced. Greenspan does have to twist the occasional arm. (If gossip like this turns you on, try Bob Woodward's "Maestro.") In little ways, and at crucial times, they matter. Witness the excited financial-page murmuring that accompanied the release of the minutes of the May 15 meeting, which revealed that Kansas City Fed Bank President Thomas Hoenig, fearing inflation, bucked Big Green for the first time in two years and voted for a quarter-point cut. (The regional presidents, not seeing Greenspan as often, do tend to be a bit more...
...examination "Houston" isn't really even Houston. According to the LA Times, state records show that over the first three months of this year - some of the worst of the crisis - the power generator charging the most on average for a megawatt-hour, at $498, was Powerex, the trading arm of a Canadian public utility. After Powerex was a subsidiary of San Diego Gas & Electric's parent company - third-highest, at $292, went to the Los Angeles Department of Power and Water...
...evidence is anecdotal. But some anecdotes are more than encouraging; they are inspiring. Consider Sue Cohen, 54, an accountant, breast-cancer survivor and five-year yoga student at the Unity Woods studio in Bethesda, Maryland. "After my cancer surgery," Cohen says, "I thought I might never lift my arm again. Then here I am one day, standing on my head, leaning most of my 125-lb. (57-kg) body weight on that arm I thought I'd never be able to use again. Chemotherapy, surgery and some medications can rob you of mental acuity, but yoga helps compensate...