Word: augustness
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...August 7, researchers at the University of North Carolina released the world's first comprehensive study on coral in the Indo-Pacific region, which stretches from Japan to Australia and east to Hawaii, and is home to 75% of the world's coral reefs. The outlook is grim. Between 1968 and 2003, more than 600 sq. mi. of reef disappeared in the region - that's 1% a year, twice the pace of rainforest decline - and the losses are hitting well-protected areas like the Great Barrier Reef just as hard as the stressed, overfished reefs that surround crowded countries like...
...live, work, shop and play. To do all that, though, DLF needs a lot more money, which is why on July 5 the company held an initial public offering for just over 10% of the company, bringing in some $2.24 billion. DLF's shares rose 14% by early August, giving it a market capitalization of $25.5 billion--roughly $5 billion more than General Motors. The IPO netted Singh and several family members, who together hold 87% of DLF, nearly $20 billion--enough to make them one of the richest clans in the world. "Frankly, that is embarrassing to me," Singh...
...Mack was in fact eventually questioned by the SEC on August 1, 2006, more than 13 months after Aguirre had first proposed, but the Pequot investigation was officially closed on November 30 of that same year. The SEC's case closing recommendation, dated November 30, 2005, states that "the staff has been unable to find any evidence that Pequot had information regarding the merger between GE and Heller before the merger was publicly announced, much less that anyone tipped Pequot or Samberg about the merger in advance of its announcement. The staff's investigation found it extremely unlikely that Mack...
...Almost two years after being fired, Aguirre won some measure of vindication in the Congressional report. "Our investigation has uncovered real failures at the SEC, and fixing those problems will take real reforms," said Senator Charles Grassley when he introduced the executive summary into the Congressional record on August 3. Among other conclusions, Grassley said the report found that Aguirre's firing was "closely connected" to his objections to the "special treatment" afforded to John Mack. Grassley complained that "Mack's prominence protected him from the initial SEC inquiry, protection that would not have been afforded him had he been...
...discredited by the two Senate committees that jointly issued their report after conducting an exhaustive, year long investigation, which included questioning of all his superiors. "When combined with the circumstances reviewed earlier, the termination appears to be merely the culmination of the process of reprisal that began with the August 1 re-evaluation," the report reads. "Thus, in its totality, the evidence we reviewed suggests a retaliatory motive for Aguirre's dismissal...