Word: bankrupting
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...have arrived at a better time. With the reigns of Andre Agassi and Sampras drawing to a close--and colorful Europeans as plentiful as empty ashtrays in Paris cafes--there is a big void at the top of the sport. Worse, a vital ATP Tour marketing partner, ISL, went bankrupt last year, leaving men's tennis with a financial shortfall. The tour needs marquee players who can lure big sponsors back to the game...
...Borer, a lawyer by training, is putting his talents to use in his new career as a Berlin-based investment banker and lobbyist. Swiss, the national airline that replaced the bankrupt Swissair, has just hired him as a consultant in a bid to revamp its image. An interesting choice, considering all that Borer has personally done to shake up his country's staid reputation...
...next step. Royal Dutch/Shell has pledged to spend up to $1 billion on renewables through the next five years. Japanese manufacturers, led by Sharp and Kyocera, have moved aggressively into photovoltaic cells, which turn sunlight into electricity. And in April General Electric snapped up Enron Wind from the bankrupt energy giant. "We are on a journey to a lower-carbon world," says Graham Baxter, an executive at Britain's BP, which is building a $100 million solar plant in Spain...
...their successes, the partners of TPG have had their share of flops. They bought several confectionary businesses, including part of Kraft Foods' candy division for which they paid $200 million in 1995. The candy investment was bankrupt by 1999 because they failed to anticipate a flood of cheap competing products from Mexico. Their attempt to turn catalog clothier J. Crew into a bricks-and-mortar retailer resulted in an identity crisis that has alienated loyal customers...
...only deal in the works. While public attention naturally attached to the US Airways transaction, Texas Pacific was quietly closing a deal 10 times larger: a $2.26 billion cash buyout of Burger King from Diageo, based in London. Bonderman and his partners are also finalizing the purchase of bankrupt Swissair's catering subsidiary, Gate Gourmet, No. 2 in the world with $2 billion in annual sales...