Word: businessmen
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Fourtou, backed by French Establishment businessmen such as the AXA insurance firm's Claude Bebear, said Vivendi's future will be sorted out over the next three months. The stock rallied in response, but the company is $18 billion in debt, has no clear strategy and may need $5.8 billion to cover debts and contingent liabilities this year. Though Vivendi reported revenues of $56 billion last year, it also recorded the largest corporate loss in French history--about $12 billion--caused mainly by writing down the value of assets. Vivendi's stock fell 85% from its peak before Messier...
...Part of Taufik's problems stem from the perception of the company he keeps. The President's husband recently met Tomy Winata, one of the country's wealthiest ethnic-Chinese businessmen and a man known for his close ties to the gambling underworld. Taufik and some family members (but not Megawati) were vacationing on an island owned by Winata. Taufik also famously conducted a prolonged shopping spree in New York City with Jacob Nursalim, the nephew of Syamsul Nursalim, one of Indonesia's largest debtors. Indeed, as TIME wrapped up an interview with Taufik at his home on a recent...
...TIME: What about big businessmen?and debtors?like Marimutu Sinivasan and Syamsul Nursalim, who has fled the country. Are they friends of yours? You know Nursalim's nephew, Jacob, well. Taufik: I don't know Marimutu, only his secretary. Jacob is an old friend of mine. I know there's a risk and that people will say things, but I don't want to go back to the Suharto era of stigmas when they say you can't hang out with this person or that person. Still, I hope (Jacob's) not playing dirty...
...suits (and still does). He had a habit of speaking in marketing lingo (which he no longer does). And like most foreigners in Japan, he committed the occasional faux pas. At one of his first dinners out with executives, he poured his own beer--a no-no among Japanese businessmen...
...fifth of corporate ownership, even though they make up more than half the population. Mahathir's attempts to reintroduce English as the medium of instruction and to roll back education and possibly business quotas for Malays have met stiff resistance from ordinary Malays. And his patronage of key Malay businessmen has also been less than successful; many wound up bankrupt, forcing the government to bail them out. "He's fed up," says Azim Zabidi, a former member of UMNO's Supreme Council...