Word: bidding
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...when it announced 2007 profits of over $11 billion. But BNP is hardly the only player contemplating exploiting Société Générale's troubles to acquire it at a bargain price. French bank Crédit Agricole is also reportedly studying a take-over bid, as are Italian rivals UniCredit, Anglo-Chinese HSBC, along with a few others...
...Concern over a potential bid drove hundreds of the bank's employees to the streets Thursday to demonstrate their determination to preserve its - and thus, they hope, their jobs. But given the apparent interest by competitors in acquiring the bank - and the enduring fallout over how the bad trades could occur over months - some observers are now convinced the eventual purchase of Société Générale is just a matter of time...
...defenseless takeover target. The likely prospect that its post-merger work force would be slashed is a chilling one in a France groggy with nearly 8% unemployment. During trading Tuesday, SocGen's stock price jumped nearly 11% amid heavy trading on rumors rival BNP is planning a hostile bid on the bank. That prospect appeared even more feasible on Wednesday, as BNP announced 2007 profits of $11 billion - smaller, to be sure, than 2006, but far better than European competitors reporting billions of losses linked to subprime exposure. Against that troubling background, many SocGen employees fondly recalled Bouton's deft...
...Democrats' efforts to repeal the ban. Darrah, the retired Navy officer, says success depends on who moves into the Oval Office a year from now. "I believe if we get a Democratic President we'll get rid of the ban," says Darrah, who is backing Hillary Clinton's bid for the White House. "The younger generation doesn't care...
...Given all the attention on Florida and the race for the White House, it's no wonder that pundits and politicos are already wondering if Crist, 51, plans to channel his popularity into his own presidential bid some day. He says no candidate has approached him about a possible vice president spot on a ticket. And after a busy year in which he won reinstatement of ex-convict voter rights, ditched the state's controversial touch-screen voting machines, spearheaded a merit pay plan for Florida teachers and convened a major global warming summit in Miami, he insists...