Word: courtises
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In fact, CNOOC's top management may have underestimated just how seriously its outside directors took their role. When it became clear at the meeting in late March that the board had been left mostly in the dark about CNOOC's plans for Unocal, a few outside directors, including former...
Now the ball was in CNOOC's court, and Fu, by all accounts, was confident as his board gathered in Hong Kong. He did not see the rebellion coming, says a banker close to CNOOC. Three key outside directors?former Shell Chemicals CEO Evert Henkes, former Swiss ambassador Schurtenberger, and...
Meanwhile, at Courtis' urging, CNOOC's board insisted on hiring an outside investment bank?NM Rothschild & Sons?and an energy consulting firm to do their own independent evaluation of the deal, in the hope that the board and Fu might eventually find some common ground. But Schurtenberger wasn't going...
The U.S. President's policy toward that budget deficit could prove to be a major factor for the economies of Asia. If the deficit is steadily reduced, growth in the States might slow and drag down Asian economies with it. But if the deficit continues to expand, the impact might...
(2 of 2) Still, no one envisions energy prices knocking Japan back into recession. Since the 1970s oil shock, the country has diversified its energy sources?expanding nuclear power and natural-gas use, for example?and has learned to conserve. Japan consumed less oil in 2003 than it did in...