Word: bidness
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...Unlike most companies, particularly foodmaker Kraft, which is also considering a bid for Cadbury, Hershey is controlled not by investors but by a charitable trust, established a century ago by company founder Milton Hershey to fund the education of orphans. The Hershey Trust, which holds 80% of the voting stock of the candy company, runs the Milton Hershey School not far from the corporate headquarters in central Pennsylvania, and it is required to maintain it in perpetuity. (See which businesses are bucking the recession...
...Neither the company nor the trust will talk specifically about the possibility of a bid for Cadbury, a decision that appears imminent, but they acknowledge that the needs of the school put the business decisions of the company in an unusual context. Dividends from the candy-company stock provide about 44% of the funding for the school...
...What's more, Citi's bid to expand in the Middle East at a time when the U.S. and the rest of the world was entering a financial crisis appears to be yet another management blunder for what was once the world's largest bank. It's also likely a black eye for Citi as it tries to convince the U.S. government that is wealthy and wise enough to pay back its government support. And unlike the mortgage mistakes, which can be blamed on past management, the rush to profits in Dubai happened under CEO Pandit...
...seat on the Houston City Council in 1997 on her third try, becoming Houston's first openly gay elected official. Won her bid to be city controller - the No. 2 elected position - in 2003, and ran unopposed for re-election in 2005 and 2007. (Read "What's All That Secession Ruckus in Texas...
...autobiography, Expect a Miracle: My Life and Ministry, Roberts revealed that he had undertaken his unorthodox $8 million "Call Me Home" fund drive because God had told him to keep the center afloat or be prepared to perish. There is some irony in the fact that this last-ditch bid for mainstream credibility provided the very ammunition used by his critics to relegate him permanently to the Christian fringe. Despite the cash infusion, City of Faith closed...