Word: derlying
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...turned out to be a brutal initiation. Germans have seen their investment in Telekom plummet by nearly 90% from its 2000 high after chief executive Ron Sommer led the phone company on a binge of global acquisitions. The shareholders have been screaming for months. Chancellor Gerhard Schröder, in the midst of a tough campaign to be re-elected on Sept. 22, saw the punter-voter connection and began putting the bite, or at least the sound-bite, on the company. Last week, under this intense pressure, Sommer resigned, admitting that he had lost the board's confidence...
After weeks of controversy over his handling of the future of Deutsche Telekom, the last thing Chancellor Gerhard Schröder needed was another scandal just nine weeks before a general election. But allegations of financial impropriety swirling around Defense Minister Rudolf Scharping forced Schröder to fire him last week. "In my opinion the necessary basis for cooperation in government no longer exists," Schröder said. Scharping, 54, was ousted after the weekly magazine Stern reported that he had received payments from a public relations agency that has several defense contractors as clients. Scharping admitted...
...administering unemployment." In the past, the Free Democrats have been the traditional coalition partner of the Christian Democratic Union, with the FDP usually securing the post of foreign minister in a coalition government. This year, the party has decided to run Westerwelle as a Chancellor candidate against Schröder and conservative candidate Edmund Stoiber. The goal is to win 18% of the vote and have a bigger say in the makeup of the next government. Opinion polls, however, suggest the party may win no more than 9% of the vote (compared with 6.2% in 1998). One reason for this...
...Like the Brazilians, Germany had a football heritage to live up to. But the team it fielded on Sunday bore scant resemblance to its imaginative sides of the past. "Der Kaiser" Franz Beckenbauer, who had participated in German World Cup victories as both player and manager, offered this unenthusiastic analysis of coach Rudi VOller's squad during the tournament: "We don't have any bad players, but at the same time there aren't any truly good ones either." German football at World Cup 2002 was not about being pretty or polished; it was about being robotically, determinedly pragmatic. "There...
...Like the Brazilians, Germany had a football heritage to live up to. But the team it fielded on Sunday bore scant resemblance to its imaginative sides of the past. "Der Kaiser" Franz Beckenbauer, who had participated in German World Cup victories as both player and manager, offered this unenthusiastic analysis of coach Rudi VOller's squad during the tournament: "We don't have any bad players, but at the same time there aren't any truly good ones either." German football at World Cup 2002 was not about being pretty or polished; it was about being robotically, determinedly pragmatic. "There...