Word: bre
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Dates: during 1990-1999
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...right-wing exiles in Miami. While most experts agree that U.S. courts will ultimately rule that a six-year-old boy should go home to his daddy, that looks unlikely to happen before the Miami exiles have exhausted his value as a cause célèbre. And the delay simply accrues the political dividend reaped by Castro...
...investors lost billions when it was revealed that Bre-X Minerals engaged in the largest mining fraud in history. Bre-X vice chairman John Felderhof, who is charged with insider trading, lives beyond extradition, with his wife, in the Cayman Islands...
Earlier this year, the Canadian company Bre-X created a scandal when it reported that the 200 million oz. of gold it had "discovered" were a hoax. That may not be all bad: investors don't have much use for the stuff anyway. Recently Australia, the world's third largest producer, confirmed the sale of about two-thirds of its holdings. The $1.87 billion gold dump followed sell-offs by Belgium and the Netherlands and reports that others would follow. Australia's sale sent the price sinking to $314.60 per troy oz., a 12-year low, before it recovered...
...hope the investors who were unfortunate enough to own Bre-X Minerals shares [BUSINESS, May 19] followed the ever important rule: diversify. I can't wait for the book or, better yet, the movie about this rip-off. BRIAN VAN LEEUWEN Albuquerque...
TORONTO: The Bre-X saga came to an ignominious end Thursday when the upstart mining company filed for bankruptcy and removed its shares from trading on the Nasdaq Stock Market. Bre-X had already been dumped by the Toronto Stock Exchange following a plunge Tuesday in which Bre-X shares, once worth more than $200, closed at about 6 cents. At Tuesday's close, the company's market value was about $14 million, compared with its peak value of $4.5 billion last year. The bankruptcy will provide protection against a host of current and expected lawsuits against the company stemming...