Word: corpe
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Maybe the kid's all right after all. In the fall of 2003 investors were screaming nepotism when media mogul Rupert Murdoch installed his son James as chief executive of BSkyB, the British pay-TV powerhouse that is 36% owned by Murdoch Sr.'s New York City--based News Corp. But earlier this month James, 32, wowed them by reversing a two-year skid in Sky's year-to-year quarterly subscriber growth. "Murdoch Jr. is doing fairly well, to be honest," says John Hayes of London-based F & C Asset Management. That's high praise from a fund that...
...Britain in little more than two years, while cable operators NTL and Telewest recently launched video-on-demand services that challenge Sky's movie business. F & C's Hayes notes that a share buyback launched by Sky in November could lead to "creeping control" of Sky by News Corp. That's just the sort of worry that rankled investors in the early days of James' reign. Of course, if he can continue to add subscribers--and keep profits moving up--maybe that won't matter. It may even help him leap ahead of brother and New York Post boss Lachlan...
...invested in digital technologies, going back to a 1976 digital-camera prototype. More recently, in 2001 it introduced the first of a line in digital cameras named EasyShare that have grown in popularity and today command a leading share of the market, ahead of Sony, according to International Data Corp. Carp began preparing the ground for Kodak's transformation soon after he took over in 2000, placing people from digitally dominant companies like General Electric and Lexmark International into top management posts. After his first COO, Patricia Russo, left to head up Lucent, he replaced her in April 2003 with...
...successfully halted construction on 30 major projects, including the massive Xiluodu Dam on the upper Yangtze River, all of which had apparently failed to carry out legally mandated environmental-impact assessments before building. Major power plants have long been dismissive of environmental regulations: the China Three Gorges Project Corp., which is responsible for the $5.3 billion Xiluodu Dam, initially defied SEPA's order to stop building on Jan. 18?a breach for which the agency could do nothing more draconian than levy a $24,000 fine...
...safe, but companies that offer pensions have collectively set aside $450 billion less than what they need to secure the retirement promises they have made. On top of that, the government fund that guarantees the benefits is swamped by recent failed plans; last year the Pension Benefit Guaranty Corp. ran a $23 billion deficit...