Word: deal
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...been talking about a gas pipeline for three decades, and in less than two years in office, Palin had made almost unbelievable headway. "I fought to bring about the largest private-sector infrastructure project in North American history," she told the convention audience in September. "And when that deal was struck, we began a nearly $40 billion natural-gas pipeline to help lead America to energy independence...
...others have made the case that whatever the result, Palin has succeeded in calling the do-nothing bluff of the Big Three and, even if the outcome is uncertain, finally moved them into action. Her campaign defends her tactics. "Ultimately, the energy companies will push for the best deal they can get, and Governor Palin has pushed just as hard to make sure that deal is in the best interests of Alaskans," says McCain-Palin spokesman Taylor Griffin. Irwin is confident that the strategy will pay off. "There will be a gas line," he says. "Once the producers get over...
...flow is now about a third of that, and supplies are projected to dwindle further. Alaska has seen these boom-and-bust cycles before. The "seal mines" of the Pribilof Islands, the salmon canneries, the Klondike gold rush--all these short-lived booms appealed to what New Deal--era Secretary of the Interior Harold Ickes once derided as Alaska's "gambling spirit." Palin is now rolling the dice on the national stage with a political persona based in part on her willingness to challenge the big oil companies. To many Americans, it's an appealing pitch, and Palin's record...
When the Alnylam deal was announced in July 2007, Schwan quipped that it could become Roche's "second Genentech." In his wildest dreams. With a market cap of $95 billion, Genentech--of which Roche has owned a 55% majority stake since 1990--has produced some of the most cutting-edge best sellers on the pharmaceutical market today. Its pipeline remains one of the industry's most promising. In the past, Roche always applied a light touch to this golden goose, but this summer it became too tempting for Schwan. On July 21, in what will probably amount to a hostile...
...surprising, Genentech's own board balked at the offer, which came to $89 a share. That price will surely rise--to more than $100 a share, by some estimates--but the deal will almost definitely go through. Nonetheless, Roche will have to work hard to hang on to Genentech's laid-back culture, one that has always attracted top minds. "They know there won't be the same flexibility and creativity Genentech is known for," says biotech analyst Geoff Porges of Sanford C. Bernstein & Co. "Roche is perhaps the industry's most brilliant acquirer, but it has never shown...