Word: corps
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With financial losses continuing to mount and market share continuing to fall, General Motors Corp. is hoping more than 35,000 blue-collar workers will accept an early retirment package and, as a result, help expedite the floundering company's much-needed restructuring. It also hopes the packages will help bail out its principal supplier, the bankrupt Delphi Corp. But as so often happens with GM's attempted comeback, the announcement raised as many questions as answers...
...North. In Seoul, the attempt by U.S. corporate raider Carl Icahn to get a seat on the board of tobacco company KT&G has, says Jang Hasung, dean of Korea University's business school, "reignited anti-foreign-investor sentiment." The sale of a controlling interest in Shin Corp., owner of Thailand's leading telecommunications company, to Temasek Holdings of Singapore has been one of the catalysts for the Bangkok demonstrations against Thai Prime Minister Thaksin Shinawatra, whose family controlled Shin Corp. In France, an effort by the Italian gas company Enel to acquire Groupe Suez appears to have been thwarted...
...trends in investment, trade, tourism or other forms of interchange." Sometimes, to be sure, complaints about trade and foreign ownership mask other issues. Thais may have marched on the Singapore embassy chanting "Thailand's not for sale!" but it was Thaksin, and his windfall from the sale of Shin Corp., that they had in their sights. "If [Singapore] took over a glass factory," says Kasit Piromya, a former Thai ambassador to the U.S., "it wouldn't be a problem. But this was a deal with the Prime Minister...
...crony capitalists who bully their opposition and the media. To their supporters, they're men of action, a welcome contrast to ineffective leaders of the past. Now, however, both have problems: Thaksin faces street protests demanding he resign over the $1.87 billion sale of his family's Shin Corp. media empire, while Fininvest media mogul Berlusconi, trailing in the polls before Italy's April 9-10 election, is accused of conspiring to give false testimony in a corruption case against him. They have other things in common...
...Shin Corp. owns Thai mobile-phone operator AIS as well as a major television network...