Word: call
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...woman at the center of all this is offended and bewildered by the suggestion that other news outlets think she's getting a free ride. She sees herself as the future of journalism, not the end of it. She and Lerer continue to experiment with "distributive journalism," as they call it, in which anybody who observes a news event can report on it for HuffPo. They recently raised $25 million to launch an investigative-journalism fund and explore creating local city versions of the site...
...wind of it, that AIG had paid out $165 million in retention bonuses to executives at the unit that compelled the U.S. to bail out the company in the first place. It took Geithner until 7:40 the next night to place what must have been a tense phone call to AIG's newish CEO, Ed Liddy. The bonuses were not tenable; they had to be canceled, he demanded. Liddy, a dollar-a-year man who took over the company after the bonuses had been promised, replied that AIG's lawyers had decided that the contracts could not be broken...
...very large deals have been done recently. Most were first proposed several months ago. They were likely to work because they were what investment bankers call "strategic." Usually that means that the two companies involved are in the same business. They see "synergies" which involve things like taking the R&D geniuses from the acquiring company and putting them in the same room with their counterparts from the firm being acquired. Working together may set off the creative sparks that drive new discoveries. Or, they may not. The real but hidden definition of the word "synergy" is firing lots...
Companies that want to get bigger or round out their portfolios of businesses have probably been on the phone with their investment bankers in the last two weeks. It may be the first time that some bankers have gotten a client call in a year. There is a rush to look at targets now, because if the market moves up another 10% or 15%, a lot of companies that were cheap will get expensive...
...French have a phrase to describe the carefully crafted rhetoric that politicians use when they have nothing much to say or want to paper over fundamental differences. They call it "langue de bois" - wooden tongue - and, unfortunately, we are entering a period in which official tongues will be even more thickly wooden than usual. The main reason for that is the summit of world leaders scheduled to take place on April 2 in London. Billed as a crucially important event for the future of the global economy when it was first called just four months ago, it's now clear...