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...April 30, General Motors Corp. Chairman John Smith stood on a stage in the posh ballroom of the Seoul Hilton Hotel, waiting to announce a long-sought deal to acquire South Korea's bankrupt Daewoo Motor Co. GM, the biggest automaker in the world, planned to celebrate in style: a signing ceremony with 150 guests, a screening of a specially made video called Infinite Possibilities, and a champagne reception for such dignitaries as the U.S. ambassador to Korea. But before the festivities could begin, the doors to the ballroom burst open and in rushed 70 angry members of the Daewoo...
That's why when Perle invited Laurent Murawiec, a senior Rand Corp. analyst, to give a briefing on the kingdom, it stirred up such a fuss. "I didn't know what he was going to say, but he had done some serious research on Saudi Arabia," Perle told TIME. In fact, Murawiec's work for Rand has not focused on Saudi Arabia...
...ideas are taking root worldwide. BASF Corp.'s carpet-fiber unit has developed a recyclable nylon that makes it possible to reconstitute old carpets into new. Swiss semiconductor maker ST Microelectronics has saved more than $60 million by cutting its energy usage and more than $20 million by reducing water consumption below baselines set in 1994--a program initiated after CEO Pasquale Pistorio's son Carmelo questioned his father's environmental stewardship. The company issued a "decalogue"--or 10 commandments--of environmental goals and empowered its divisions to become creative. The responses include using solar power and finding ways...
...value so each share is worth more--to keep their share prices above $1. Any lower, and they will get kicked off the major exchanges. Instead of share prices, Saberhagen compares price per share against book value per share (assets minus liabilities). Using this approach, Aegis picked up OMI Corp., a shipping company in Stamford, Conn., that is trading for $3.73 a share, well below its book value of $5.75 a share...
...Diego-based Diversa Corp. is one of the most active prospectors. The company has searched for useful microbes at geothermal and hydrothermal vents, in acidic soils and alkaline springs, in marine sediments, at industrial sites and all over Antarctica, among other places. "Eventually," says Diversa CEO Jay Short, "we want to sample every portion of the globe." Any profits will be shared with the country of origin...