Word: consortium
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...mainly banks and financial firms - giving them considerable influence over the operations of the other companies. Four executives from the French bank BNP Paribas, for example, sit on the boards of 12 other CAC 40 companies, including the environmental-services group Veolia, the oil giant Total and the aerospace consortium EADS. (Read "Christophe de Margerie: Big Oil's Straight Talker...
...Several nonprofit and medical institutions in Cleveland have turned to the Mondragon model for a consortium of businesses that will provide needed services and bolster an impoverished community. Evergreen Cooperative Laundry, a state-of-the-art commercial launderer designed to be LEED silver-certified, opened for business this fall in Cleveland's University Circle, an area where the average annual household income is $18,500. Rather than just bringing home wages, its eight employees will gain equity through "patronage accounts," a portion of earnings put aside to both build personal assets and reinvest in the company...
...March 27, the consortium of banks approved the loan by the narrowest of margins - 50.43%. It proved to be the first step in putting CityCenter back in business. Had it gone under, Murren says, it's "very possible" MGM Mirage would have been brought down too. And the financially reeling state of Nevada, which received so much of its revenue from gaming, would be in "a tremendously damaged position, more so than even we had been this year." Murren calls it the most challenging time of his life - "Had I known we would have survived, I might have enjoyed...
...world leaders continue to arrive and make their presence felt (or lack thereof), this final week of the summit has witnessed bizarre contradictions of rhetoric and procedural protocol. Perhaps most disappointing has been the action of ‘the Group of 77,’ a consortium of over 100 small or developing nations with a vast range of geopolitical backgrounds, as well as agendas for the conference. Where the nations seem to agree is on the added difficulty facing poorer or more developing countries that would bear the brunt of many of the measures to mitigate climate change...
Charbonneau's group isn't the only one looking. An international consortium of observatories just announced the discovery of several other super-Earths around Sun-like stars, though these new planets are far too hot to sustain life and too far away to be able to study. Separately, NASA's Kepler Mission will present the first results of its planet search at the American Astronomical Society meeting in Washington in January. "[The Kepler team] has already submitted 28 scientific papers based on 43 days of data or less," says MIT planet theorist Sara Seager. "It's going...