Word: consortiums
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...Belgo-Dutch giant Fortis, with nearly 300-year-old roots and Catherine the Great among its historic clients, playing a role in last fall's $100 billion takeover of Dutch rival ABN Amro was a big moment. In the largest financial services deal ever signed, Fortis - part of a consortium alongside the Royal Bank of Scotland (RBS) and Spain's Santander - put up $34 billion in return for ABN's Dutch banking business, among other assets...
...Fortis isn't alone among the banks in that once lauded consortium to fall on hard times; mighty RBS has since written off billions of dollars in sub-prime related losses, and even turned desperately to shareholders in June for some $20 billion in fresh capital. But if both lenders testify to the shaky health of many of the world's biggest banks, Santander, the third leg of the trio, seems to have gone from strength to strength. Indeed, while Fortis was receiving life support on Sunday, the Spanish bank was administering much needed first...
...latest offer, which had the blessing of Berlusconi, who's back in power, came from a consortium of Italian businessmen ready to invest up to one billion euros in the more profitable sectors of the company. (The money-losing units would file for bankruptcy protection.) But after unions rejected the plan, the investors pulled their offer off the table...
...There's still a slim possibility Alitalia can be saved. Air France-KLM or German carrier Lufthansa might make a new offer, or the Italian consortium could reconsider if the labor syndicates show more leeway. But the likelier scenario is that Italy's national carrier goes under for good...
...Outside of Incubus, you’re also known for your side projects: producing, playing in Time Lapse Consortium, writing the soundtrack for “Flow,” and recently your project “End.>Vacuum.” Are you working on anything new while at Harvard...