Word: contractive
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...risks. In August, Caltex Pacific Indonesia, a subsidiary of ChevronTexaco, was forced to turn over management of an oil field in Sumatra to a joint venture between a local government and Pertamina, the country's big domestic producer. Caltex ran the field for 30 years, but when its production contract expired, the company was unable to get a standard extension. Under Suharto, Jakarta controlled the country's natural resource industries. But now, power is devolving to the provinces and local politicians want a cut of the wealth. The government in Riau, the province where the field is located, demanded...
...better approach would be for the College to contract out with a professional storage company that could offer secure, insured, off-site storage for a subsidized rate that students could pay per box. This would allow students who are concerned about the perilous nature of Harvard storage to leverage the bulk purchasing power of the College to get a lower price on high quality storage, an option that would surely be exercised by those students who are often too busy with final exams and papers to plan ahead for their summer storage. This measure would undoubtedly alleviate the storage crunch...
...government of Simeon Saxe-Coburg-Gotha in July 2001. Bulgaria was engulfed in a wave of nostalgia-tinged optimism inspired by the new Prime Minister - also the country's former child King. Within a year, the party's ratings had plummeted; Veltchev's decision to award a contract to reform Bulgaria's corruption-plagued customs service to a British firm - without open bidding - prompted calls for his resignation and a no-confidence vote in the government. Veltchev's explanation: "We solicited other proposals. We just shortened the process to save time, because we were losing an enormous amount of money...
...Governor of Magadan, a region in Russia's Far East, was shot dead on a busy street in Moscow. Valentin Tsvetkov, 54, who was also a Russian Deputy, was gunned down during the morning rush hour, in front of dozens of witnesses, including his wife. Police suspected a contract killing and said they had a description of the assassin. President Vladimir Putin ordered his Prosecutor General Vladimir Ustinov and Interior Minister Boris Gryzlov to investigate. Meanwhile, a car bomb exploded on Saturday outside a crowded McDonald's in Moscow, injuring seven people. MIDDLE EAST Hot Water Israel protested when Lebanon...
Emancipation broke out last week when COURTNEY LOVE settled her lawsuits with the Universal Music Group. The label let Love out of her contract, and she agreed to let UMG release previously unheard songs by Nirvana, the band comprising her late husband Kurt Cobain, Krist Novoselic and DAVE GROHL. Grohl heads the band Foo Fighters, whose new album, One by One, will be out on Oct. 22; he spoke with TIME's Josh Tyrangiel...