Word: coughs
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...when he feels a takeout isn't fair. "Oh, absolutely," he said. "Our fiduciary obligation is to maximize the returns and the valuation for our investors." Carl Icahn more recently suffered a similar predicament when shareholders rebelled against his offer for auto-parts maker Lear Corp., forcing him to cough up more cash. And several PE financings have flopped because investors balked at the lenient loan terms...
Lewis "Scooter" Libby isn't going to jail, but he still has to cough up a $250,000 fine, serve two years of supervised release and live with his conviction for perjury and obstruction of justice - unless they're overturned on appeal...
...Agriculture does: meat, poultry and eggs can't be imported without meeting its standards. But David Acheson, who was appointed the FDA's assistant commissioner for food protection after the recall of tainted pet food in March, says that kind of monitoring for 16 million shipments of everything from cough syrup to toothpaste would be "too complex and cumbersome...
...instead the FDA saves its fire for the high-risk goods that have caused health problems. That's what happened in early June with Chinese-made toothpaste. Following 100 deaths in Panama linked to cough syrup containing diethylene glycol (the ingredient had been mislabeled as glycerin, which is harmless), the FDA issued an import alert on all toothpaste made in China, tested the tubes it could find for the toxin and recalled the questionable batches. "Obviously it's not possible for us to test every product that is coming in to make sure it's meeting every standard we have...
...Even worse for Zheng, China's regulatory problems have extended beyond the country's borders. More than 100 people in Panama were killed by Chinese-made cough medicine last year; in March, Chinese-made pet food ingredients containing the chemical melamine sickened or killed an untold number of animals and led to the recall of some 100 brands of pet food. With the world's spotlight is on Chinese efforts to improve its record on food safety, there's little doubt that the pressure of international embarrassment and death and illness at home added to the severity of Zheng...