Word: consortium
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Dates: during 2000-2009
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...billion, and last June Kerkorian snapped up the Mandalay Resort Group for $4.8 billion, giving him control of 11 hotel-casinos on the Strip and more than half the gambling action. Last year Kerkorian sold his stake in the MGM movie studio for $5 billion to a consortium led by Sony. In fact, Kerkorian's dalliance with MGM over the years reads like a sordid back-lot love story. He first bought shares in the studio in 1969, sold MGM/UA to Ted Turner in '86, bought back most of it a few months later, unloaded it to an Italian financier...
Then there is the recent contest to build Marine One, the President's helicopter. For the first time, the Pentagon has decided not to buy from Connecticut's Sikorsky Aircraft Co., instead choosing an Anglo-Italian chopper that initially will be made in Europe by a consortium of firms in partnership with Maryland's Lockheed Martin. "The Marine One decision was highly symbolic," admits John Douglass, president of the Aerospace Industries Association, a U.S. trade group. "It showed that foreign companies can compete and win on the most sensitive programs...
...smelling salts, successive British colonial governments learned to use sales of reclaimed land to finance their budgets. In the mid-1990s?the last time a chunk of centrally located landfill came on the market?the administration sold 0.35 hectares to Citic Group for $430 million, while a consortium of developers paid $1.54 billion for the right to develop another site that now includes the IFC II skyscraper. "It was cheap, easy money," says Sun Hung Kai's Nissim, who for 20 years had worked as a senior government surveyor. "But it spun out of control...
Four separate panels, each comprised of seven university presidents, presented their findings about diversity in graduate, undergraduate, and doctoral education at a conference sponsored by the Leadership Alliance, a consortium of colleges and universities...
Even a Prime Minister can become a Washington lobbyist when a big military contract is at stake. But despite a personal appeal from Prime Minister Margaret Thatcher to President Reagan, the U.S. Army last week chose a U.S.-French consortium to supply it with a sophisticated, $4.3 billion field-radio system. In one of the largest U.S. military contracts ever awarded for a foreign-designed system, the Army picked RITA, a joint venture by France's Thomson-CSF and GTE of Stamford, Conn., and turned down a competitive system offered by the British-American combine of Plessey Co. and Rockwell...