Word: armor
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...their short history, collective suits have already shown their potential to penetrate the armor of the tobacco industry. In a 1998 settlement between the industry and 45 states, for example, tobacco companies agreed to pay out $206 billion in damages over 25 years, in addition to sponsoring anti-smoking advertisements and programs to help smokers quit. The unprecedented size of this settlement, together with the small but important reforms on which it is contingent, represent the first forced concession of the seemingly impervious industry. In Miami, the first class action lawsuit decided by trial has yielded a $144 billion award...
...bankruptcy after paying over ?200,000 to defend the action. The total bill included ?1,001 in damages to Major, his legal costs and the costs of the distributors and publishers accused of disseminating libel. With Major's past now in the open, there is a chink in his armor. "Mr. Major is now an admitted adulterer and therefore the sting of the libel was true," says libel law expert Mark Stephens. "We could see a situation where he's not only going to have to return the money, but the case could be reopened because it was settled...
...Lehman Bros., Goldman Sachs and Deutsche Bank all predict that the benchmark short-term federal-funds target rate--at just 1.75%--will go to 1% by the end of the year as Fed Chairman "Sir" Alan Greenspan (soon to be knighted for his role in the global economy) dons armor against the double-dip recession dragon. A quarter-point cut could come this week. A lower fed-funds rate is bad news for savers. Yields on things like money-market funds and short-term bank CDs, already under 2%, would drop further. Meanwhile, long-term rates, which the Fed does...
...Lehman Bros., Goldman Sachs and Deutsche Bank all predict that the benchmark short-term federal-funds target rate - at just 1.75% - will go to 1% by the end of the year as Fed Chairman "Sir" Alan Greenspan (soon to be knighted for his role in the global economy) dons armor against the double-dip recession dragon. A quarter-point cut could come this week. A lower fed-funds rate is bad news for savers. Yields on things like money-market funds and short-term bank CDs, already under 2%, would drop further. Meanwhile, long-term rates, which the Fed does...
Somehow, somebody got the idea that Lance Armstrong could be beaten in the Tour de France this year. The talk started weeks before the event, indications that Spanish teams, which were riding well, were seeing chinks in his armor. Armstrong had won the Dauphiné-Libéré and the Midi Libre, two tough multiday stage races before the Tour, but he didn't win their individual time trials, events that used to be his strength. And didn't he finish second in the Criterium International last March? Didn't that show his vulnerability...