Word: deal
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...Sunday, Sept. 21, for the first time the Emmys will award a statue to the best host of a reality TV show. To top that off, the event itself will be hosted by the five nominees: Tom Bergeron (Dancing With the Stars), Ryan Seacrest (American Idol), Howie Mandel (Deal or No Deal), Heidi Klum (Project Runway) and Jeff Probst (Survivor). "Clearly, everyone watches it," says Andy Dehnart, editor of the blog Reality Blurred, which follows and analyzes the reality TV genre. "But everyone also thinks they have to say they...
...answer, if the recent behavior of other sovereign wealth funds and foreign private equity houses is any indication, may be to deliver, in person, a simple message: No. Not again. Not unless you structure a deal in such a way that we simply cannot lose. Otherwise, goodbye. That, in effect, is what Sameer Al Ansari, the CEO of Dubai International Capital, told Wall Street earlier this summer. He had had discussions "with all the people you'd expect" in the pantheon of U.S. finance regarding a possible investment from his fund, he told TIME. Wisely, it turns out, he told...
...desperate-for-capital bankers in the U.S. - and, as Gao's trip shows, they are talking - the terms of the discussions, one senior Hong Kong-based banker said today, are likely to be very harsh for any potential recipient of capital: "You're basically looking at structuring a deal at this point in which there is no downside - none. Even if a company goes under, like Lehman, you're first in line to get paid a return on your assets. Take it or leave...
...That's more or less the deal secured by Temasek, a sovereign wealth fund in Singapore, when it invested in Merrill Lynch. It dumped $4.4 billion into Merrill last December at $48 per share, but a downside protection clause meant the firm would make money even if the stock plunged to $24. It did - and then some. By late last week, Merrill traded at just over $17 a share, increasing the pressure on CEO John Thain to do a deal. Over the weekend, he sold the firm to Bank of America in an all-stock transaction worth about...
...safe exit for himself. A top government intelligence officer told TIME that Mugabe, despite his angry rhetoric, may in fact be preparing to step down. "One thing for sure is that Mugabe is now on the prowl, especially in his own party," the intelligence officer said. "He wants to deal with those who contributed to his defeat in March and create a safe exit for himself. By coming up with a unity accord, Mugabe wants to exit as a good statesman and give the impression that he was a unifier...