Word: bankrupting
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...nickname "the Carnegie of Calcutta," Mittal, 54, has spent much of his career buying run-down steel facilities in far-flung locations like Romania and Kazakhstan and returning them to profitability. But ISG is a different animal. It was formed in 2002 from the guts of the bankrupt LTV steel business. Under the watchful eye of Ross, the firm, which employs 15,000 people, grew into one of the U.S.'s major steel producers by acquiring money-losers like Acme Steel and Bethlehem Steel. (In the planned new entity, Ross will get seats on the board of both the Dutch...
...that score, management and workers are often in agreement. Indonesian courts have handed down a series of bizarre verdicts in commercial cases in recent years that have eroded the confidence of investors. In April, for example, the Commercial Court declared the very profitable Indonesian operation of Prudential Life Assurance bankrupt after an Indonesian consultant claimed the company owed him money from a terminated contract. The court immediately replaced Prudential managers with a receiver, who fired key staff. By the time Prudential got the Supreme Court to reverse the verdict in June, sales of new policies had fallen 50%. Since then...
...interview with NBC news, President Bush said: “I don’t think you can win the war on terror.” I always suspected that the war on terrorism could not be won, and certainly not with the kind of bankrupt strategy being followed today. A strategy entirely dedicated to creating obstacles to stop terrorists, rather than a strategy that also aims at putting an end to the roots of terrorism, is deeply flawed...
...prices on everything from nonprescription drugs to toothpaste. Sued by manufacturers who set prices, Haft ultimately prevailed in a 1960 Supreme Court ruling that triggered a retailing revolution. A family struggle for control of his empire in the early 1990s sundered his marriage and left some of his holdings bankrupt. Haft ceded control in 1997, taking a $50 million settlement...
GALLAGHER: If Bush wins and the Republicans do surprisingly well in the Senate and the Democrats feel they paid a price for their stand opposing tort reform, you could get some significant relief for companies with asbestos liabilities. Some, like maybe USG, if they go bankrupt, are $5 stocks, but if we get asbestos relief are $35 stocks...