Word: chairman
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...just saved up $90 for a new bicycle when her wallet disappeared with all her cash in it. She asked her parents if they would buy the bike for her, but they refused. It's not that they couldn't afford to help. Lee's father is vice chairman of a major Hong Kong conglomerate; her family is rich. Lee, now 36 and the managing director of a printing company, remembers crying about the injustice of it all. But today, she recognizes that she gleaned a valuable lesson from the incident: money does not necessarily grow on family trees...
...expect the country to avoid a recession, while the banking sector remains generally healthy - the renewed onset of economic turmoil has undermined the confidence of South Koreans in their own future. "The economy's O.K., but no one thinks so," says Jeffrey Jones, a Seoul-based attorney and former chairman of the local chapter of the American Chamber of Commerce. "They're saying that not only is the IMF coming back, but that 'we're failing...
...boldest attempt yet by the U.S. government, which placed Fannie and Freddie in conservatorship in September, to address the foreclosure crisis. At the same time, some consumer advocates, as well as the chairman of the FDIC, are already complaining that the plan doesn't go far enough. (Read "Four Steps to Ending the Foreclosure Crisis...
...statement, FDIC chairman Sheila Bair, who has seen her own suggestion of the U.S. government directly guaranteeing mortgages sidelined, called the new program "a step in the right direction" but also took it to task for not more directly addressing mortgages held in private securities. As Lockhart pointed out, mortgages owned or guaranteed by Fannie and Freddie represent less than 20% of serious delinquencies. Private label securities - those packages of mortgages that were sliced and sold to investors - represent some 60% of serious delinquencies. Lockhart made an appeal for servicers of such securities to "adopt this program as the industry...
...Guillaume Pepy, chairman of France's state-owned SNCF rail company, didn't go so far as to speculate about what else the group might have done had it not been arrested. But he did say the "central role of rail travel as a collective means of travel that France has made a priority" was also what made it an inviting target for saboteurs seeking "to strike a blow at a well-functioning French society...