Word: consortium
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Dates: during 2000-2009
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Engine Trouble Enigmatic British billionaire Bernie Ecclestone has ruled Formula One racing for almost 30 years through a web of firms. But London's High Court last week handed Speed Investments - a consortium of Bayerische Landesbank, JPMorgan and Lehman Brothers - control over Formula One Holdings (FOH), one of the companies that runs the multibillion-dollar F1 business. Why the ruling? The banks have held a 75% stake in SLEC Holdings, a firm that controls FOH, since 2002, when the Kirch media empire, the previous stakeholder, collapsed. And the banks may now seek a greater say at two other Ecclestone firms...
...world markets by buying foreign companies. Last year, Guangdong-based TCL bought the television arm of French electronics behemoth Thomson, which gave it the RCA brand. Shanghai Automotive Industry Corp. is in talks to acquire the very English MG Rover, and has already bought Korean SUV maker Ssangyong. A consortium of Chinese companies bid on the Canadian mining firm Noranda. According to a recent study by Bain & Co., China's foreign investments will reach $86 billion by 2015. These global ambitions have generally been encouraged by the government, with Minister of Commerce Bo Xilai last month urging the nation...
Students can cross-register between Harvard and Weston under the auspices of the Boston Theological Institute—an ecumenical consortium that also comprises Boston College...
...CyberCar was developed by a consortium of 15 European research centers and spearheaded by Michel Parent, program director for research and development at France's INRIA, an automation and robotic research center. As you might imagine, Parent is a car buff who enjoys renovating vintage automobiles, such as the 1955 MG TF 1500 he refurbished while on a two-year assignment at the Massachusetts Institute of Technology. "We are not looking to eliminate cars, just reinvent them," Parent declares...
...sweep pegged to its front end allows it to avoid or stop in front of obstacles. The town of Antibes on the French Riviera and the nearby principality of Monaco are considering buying their own fleets to taxi visitors around their cramped streets. The CyberCar was developed by a consortium of 15 European research centers and spearheaded by Michel Parent, program director for research and development at France's INRIA, an automation and robotic research center. As you might imagine, Parent is a car buff who enjoys renovating vintage automobiles, such as the 1955 MG TF 1500 he refurbished while...