Word: bidding
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...Consequently, a more flexible renminbi mechanism raises the odds of an Asian shift out of dollars, in effect removing the artificial bid for dollar-denominated assets that has prevented U.S. interest rates from rising more sharply. This will undoubtedly put pressure on the interest-rate prop supporting U.S. asset markets?especially property. Asset-dependent American consumers may slow their spending as a result. While this may be painful, it may also be the only way for the U.S. and the rest of the world to come to grips with the U.S.'s glaring foreign-trade and current-account imbalances. China...
...Senate earlier this year?now appears to be going nowhere. Also easing anti-Chinese sentiment in the U.S. were setbacks last week to two attempted acquisitions of U.S. firms by Chinese companies. Mainland appliance maker Haier dropped its $1.28 billion offer for Maytag, and a politically controversial $18.5 billion bid by China National Offshore Oil Corp. to buy U.S. oil giant Unocal has run into stiff headwinds after Unocal's board voted to stick with an improved offer from American company Chevron. Revaluing the yuan "buys the Chinese significant political capital," says Hong Kong-based Merrill Lynch strategist Spencer White...
PATRICK OLLIER, French Deputy, on rumors of a possible bid by PepsiCo for France's Danone
Roberts seemed on a fast track to judicial glory in 1992, when George H.W. Bush tapped him for the District of Columbia Circuit Court of Appeals at the age of 36. But he encountered his first setback when the bid died in the Senate with Bill Clinton's victory. Then George W. Bush tried in 2001 and finally succeeded in 2003. In the meantime, Roberts spent most of the '90s biding his time, getting rich as a corporate lawyer at Hogan & Hartson, one of Washington's largest firms, where he quickly emerged as the supreme commander of Supreme Court battles...
Joining Ginsberg, Graham, Jacques, and Nagourney as IOP fellows this fall are Martin Frost, a former Texas congressman who lost to Howard Dean earlier this year in a bid to chair the Democratic National Committee; Joseph Gaylord, a former counselor to Newt Gingrich (and Ginsberg’s first political boss, Ginsberg said); and Lisa Davis, a former advisor to Bill Clinton’s 1996 reelection campaign...