Word: dealing
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Dates: during 1990-1999
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...then there's Bankers Trust, which introduced the world to derivatives surprises in 1994. Procter & Gamble sued the bank after absorbing losses of about $150 million on a blown deal, accusing Bankers Trust of misleading it on the risks. The bank agreed to a costly settlement. Now it may face other nasty surprises from Asia. According to SEC filings, the bank has some $5 billion of gross-credit exposure in derivatives to clients that aren't investment grade...
...cannot legally do with Windows, his de facto operating-system monopoly. Klein's team has spent the past year amassing what the DOJ clearly considers persuasive evidence that the software giant's behavior--from restrictive licensing arrangements with its so-called PC allies to me-only marketing deals with Internet service providers and websites--violates the venerable Sherman Act, the bedrock of U.S. antitrust law. Sherman, in essence, says it's O.K. to achieve a monopoly, but not to use one to wedge your way into other lines of business. Klein calls actions like the nasty one Microsoft is accused...
...antitrust chief also had plenty of incentive to cut a deal. With merger mania rampant in industries from banking to telecommunications, Klein had ample opportunity to prove his trust-busting mettle without taking on Microsoft in a long and costly battle that many legal scholars suspect he will have a tough time winning. Faced with the uneasy prospect of trying to prove consumer harm by a company that has helped make PCs better and cheaper, Klein must have held out at least faint hopes that Gates would renounce enough of his most egregious practices to let them both declare victory...
...them decide which products and services they could feature on their own machines. But Klein wasn't interested in settling for another minor pact reminiscent of his predecessor Anne Bingaman's infamous 1994 consent decree, now widely derided as a sellout that only postponed the day of reckoning. The deal, struck in 1994 and ratified in '95, granted Microsoft the right to sell "integrated" products--i.e., software like Windows that combines more functions than a Swiss Army knife. But the decree also prohibits the company from "tying"--forcing customers to buy any single product as a condition of licensing Windows...
...backroom negotiations that continued into last weekend, the White House hammered out a deal with G.O.P. Senator JOHN MCCAIN to modify his $518 billion antitobacco bill, which will be the subject of contentious debate in the Senate this week. Despite demands from leading Senate Democrats--and some Republicans--that the price of a pack of cigarettes be raised by $1.50 over five years, the Administration agreed to support McCain's more modest $1.10-a-pack hike. In return, the Arizona Senator strengthened the provisions that would penalize the industry for not meeting targets in reducing teen smoking. Also, McCain...