Word: corpe
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Dates: during 2000-2009
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...SIPA trustee handles bankruptcies when the Securities Investor Protection Corp. (SIPC) steps in to take charge of fallen brokerage houses. Picard is considered the superstar of SIPA trustees, having handled the largest cases SIPC has managed, and other large non-SIPC cases, such as portions of airline TWA's bankruptcy. He has participated in at least 38 major bankruptcy decisions. According to Stephen Harbeck, president of the Securities Investors Protection Corporation, Picard has served as trustee in more brokerage firm liquidations than anyone else in the U.S. (See the worst business deals...
...merge GM's European business into the Fiat-Chrysler group to create one of the biggest carmakers in the world. His plans to close plants in Germany and Italy have been roundly condemned by powerful German governors and the IG Metall trade union. A Chinese carmaker, Beijing Automotive Industry Corp., is expected to detail its own plan for Opel next week. (See the 50 worst cars of all time...
...Indeed, direct links appear to be boosting profits. Eric Kuei, general manager of Fruit Taiwan Corp., says the time to transport his pineapples and other produce to Shanghai from Taiwan has been cut from seven days to three, which means more time on Chinese store shelves and a 20% increase in profits. "After Ma got elected, everything's more convenient for businessmen," says Kuei. In a recent survey conducted by Taiwan's CommonWealth magazine, 60% of the CEOs questioned said that liberalized cross-strait relations were improving Taiwan's economic competitiveness. This positive outlook has helped fuel a 40% surge...
...deal brokered by the Federal Deposit Insurance Corp., which closes banks that are insolvent or nearly so, BankUnited is being taking over by a group of private-equity investors, including famed vulture investor Wilbur Ross. The group isn't paying much for the bank - because BankUnited isn't worth much. The FDIC figures cleaning up the mess at BankUnited will cost its insurance fund nearly $5 billion, which makes this the most expensive bank failure this year...
...other domestic or international groups. "In the U.S. we tend to roll up the conspirators quickly, but in the U.K. they allow the conspiracies to run a long way, so they can scoop up as much more intelligence," says Bill Rosenau, a national-security expert at the Rand Corp. "What you saw in New York was very much like a U.K. operation...