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...While [Wells'] management's efforts to 'de-risk' Wachovia's problem loans may help in the near term, we still expect losses to exceed management's expectations," wrote analyst Paul Miller, who follows banks at FBR Capital Markets, in a recent report to clients. Miller, who rates Wells' shares "underperform," expects Wells' stock to fall by half its current price to $12. "Given our macro outlook ... we just can't get comfortable with Wells' balance sheet...
...increase the range of choice with new products, services and suppliers, you increase the number of clients who want to explore those new options," says Mireille Faugère, president of domestic and international passenger services for France's state rail company, Société Nationale des Chemins de Fer Français (SNCF). "For a company like ours - which derives 20% of its business from international travel - this liberalization is far more an opportunity than a threat...
...effort to gain operating efficiencies and to outmaneuver rivals, some of Europe's main rail operators are already forming partnerships. SNCF, for example, runs a high-speed Paris-Brussels-Amsterdam-Cologne service called Thalys along with Belgian rail operator Société Nationale des Chemins de Fer Belge (SNCB) and Germany's Deutsche Bahn (DB). DB also uses the French company's track to operate its high-speed Intercity-Express (ICE) trains between eastern France and Paris. But, despite their cooperation on some routes, DB and SNCF are locking horns over Eurostar. The French have a majority stake...
...even know when they are," says Bas Van den Brule, a 19-year-old student, "and I probably won't vote either." Jacqueline de Kuijper, 21, admits she has no idea what the Parliament does. "I'm not sure I want to spend time finding out," she says. Such apathy has bloomed as never before across Europe. A recent Eurobarometer survey found only 34% of the 375 million eligible voters were likely to cast ballots for the 736-member Parliament, the E.U.'s only popularly elected institution. That would preserve an ignoble pattern: turnout has fallen at each successive direct...
...most recent Veggie Day on May 21. While most restaurants owners and residents I spoke to had heard of Veggie Day, few had any plans to embrace the concept. A local rib shack, Amadeus, was doing brisk business, and many people openly ate hot dogs on the street. Wim De Kinder, owner of the upscale Traiteur Grimod delicatessen, said he tried to introduce vegetarian fare two years ago after learning of the environmental cost of livestock production, but he couldn't shift enough product to make it profitable. "I can't be expected to make a loss for the sake...