Word: consortiums
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After more than five years of legal wrangling with the New York attorney general's office, Harvard finally succeeded in selling the forest this summer to the New York-based Golden Family Foundation. The new owners plan to lease the forest to a consortium of New York educational institutions, who will use it for teaching and research purposes...
After more than five years of legal wrangling with the New York attorney general's office. Harvard finally succeeded in selling the forest this summer to the New York-based Golden Family Foundation. The new owners plan to lease the forest to a consortium of New York educational institutions, who will use it for teaching and research purposes...
...Still, the economy is stagnant. No wonder. The equivalent of about $13 billion a year that might otherwise go to internal investment or the purchase of imports is being siphoned off to service Mexico's nearly $100 billion debt. Under quiet prodding from Washington, the Mexican government and a consortium of international banks have been negotiating an agreement to ease the terms of repayment. Next in line for debt relief are three other democracies whose future growth could be in jeopardy: Venezuela, the Philippines and Costa Rica...
...pull off the deal, Goldsmith and his partners propose to borrow nearly $17 billion. Drexel Burnham Lambert will raise $6.4 billion through a junk- bond issue, and Bankers Trust will assemble a consortium of banks to provide the rest. Yet B.A.T investors would get no cash for their 1.5 billion shares. Instead, Goldsmith and his partners, bidding through a company called Hoylake Investments, would pay B.A.T shareholders a combination of Hoylake stock and loan chits worth $13.82 a share (B.A.T stock was trading at 11.28 in London before the deal was announced). Hoylake would pay down the debts by selling...
Though its record on the environment has been spotty so far, the Bush Administration last week took the lead in a major conservation issue by imposing a ban on ivory imports into the U.S. The move came just four days after a consortium of conservation groups, including the World Wildlife Fund and Wildlife Conservation International, called for that kind of action, and it made the U.S. the first nation to forbid imports of both raw and finished ivory. The ban, says Bohlen, "sends a very clear message to the ivory poachers that the game is over...