Word: behemothly
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Notwithstanding all the talk about scale, $300 million in annual cost savings and sizable purchasing power, the merger isn't so much an attempt to take on a behemoth like Wal-Mart as it is to survive in spite of it. Even with a combined $55 billion in annual sales, Sears and Kmart will be just one-fifth the size of Wal-Mart, which "is so overwhelming in terms of market share, logistics and efficiency that going up against them would be futile," as Michael Appel, managing director of Quest Turnaround Advisers, puts...
...agreed to pay $1 billion for a 25% stake in Novatek, Russia's largest private gas producer. Many other companies, including ChevronTexaco, PetroCanada and Norway's Statoil, are trying to get a foothold. All three recently signed preliminary agreements to work with state-controlled Gazprom, an oil-and-gas behemoth in which German power company E.On holds a 6% stake. And there is widespread speculation in Moscow that Sibneft, an oil company with proven reserves of 4 billion bbl., controlled by billionaire Roman Abramovich, could be in play...
...agreed to pay $1 billion for a 25% stake in Novatek, Russia's largest private gas producer. Many other companies, including ChevronTexaco, PetroCanada and Norway's Statoil, are trying to get a foothold. All three recently signed preliminary agreements to work with state-controlled Gazprom, an oil-and-gas behemoth in which Germany power company E.On holds a 6% stake. There is widespread speculation in Moscow that Sibneft, an oil company controlled by billionaire Roman Abramovich with proven reserves of 4 billion bbl., could be in play. Sibneft was scheduled to merge with Yukos until Khodorkovsky's troubles erupted. Abramovich...
...talk of dominance and renaissance was premature. After all, Northeastern, Princeton, Dartmouth and Columbia are no offensive juggernauts. Now, after allowing Ivy behemoth Penn just 10 points, the chatter can begin in earnest...
...inflation, but the bank can't raise rates because that would further strengthen the euro. Right now, the most Trichet can do is complain. Dividing to conquer? Could an antitrust cease-fire between Microsoft and its most bitter rivals spell trouble for the E.U.'s competition police? The software behemoth last week convinced its competitor Novell to lay down arms in exchange for a $536 million payoff; Microsoft also ended a battle with the Washington D.C.-based Computer & Communications Industry Association. (Cell-phonemaker Nokia quit the trade body in response, calling the deal "inappropriate.") In return, both parties agreed...