Word: contracted
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Dates: during 2000-2009
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...series of bizarre verdicts in commercial cases in recent years that have eroded the confidence of investors. In April, for example, the Commercial Court declared the very profitable Indonesian operation of Prudential Life Assurance bankrupt after an Indonesian consultant claimed the company owed him money from a terminated contract. The court immediately replaced Prudential managers with a receiver, who fired key staff. By the time Prudential got the Supreme Court to reverse the verdict in June, sales of new policies had fallen 50%. Since then, Prudential has fought off two other attempts to declare the unit bankrupt, including one last...
Albany’s Pepsi Arena will remain the host site of the final stages of the league’s post-season play through 2008 thanks to the successful negotiation of a contract extension announced yesterday by the ECAC Hockey League’s Acting Commissioner Steve Hagwell. The two sides formally kicked off their partnership...
...length of the “multi-year” contract was not released...
...into rented handsets--because in September Verizon Wireless began selling its first global phone, which can roam between CDMA networks (used in North America and parts of Asia and Latin America) and GSM networks (used everywhere else). Verizon is offering the Samsung a790 for $350 with a two-year contract, with international calling rates starting at $1.29 a minute in the most-developed countries. Samsung is using semiconductors from CDMA pioneer Qualcomm, which was the first to integrate the competing network technologies on one set of chips. Qualcomm has also licensed the dual chips to LG and Motorola, which plans...
...China. But Big Tobacco's China dreams have gone up in smoke before. In 1986 R.J. Reynolds formed a $31 million joint venture to make Camels; 13 years later, the American partner bailed out by selling to Japan Tobacco. JT itself gave up on the venture when its contract expired this month, selling its stake to Chinese partners for a measly $18 million. The Marlboro Man will have to be faster on his feet if he wants to grab this bull by the horns. --By Neil Gough/Beijing...