Word: eurotunnel
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...scene had all the hallmarks of a populist uprising. Some 6,000 infuriated owners of Eurotunnel stock converged last week in a massive, hangar-like convention hall near Paris' Charles de Gaulle airport to topple the company's embattled, button-down board. Led by a fiery businessman with multiple fraud convictions and a chairman designate who likes to travel by motor scooter, the rebels then anointed a new board made up of unemployed executives, retirees, a sociologist and one man under investigation for money laundering (which he denies). Welcome to shareholder activism, French style. Their prize: the company that built...
...More than ever, you have to wonder about Eurotunnel's survival...
...company had counted on at least 10 million people and 5 million tons of merchandise to travel through the tunnel annually by 2000. What they didn't count on was the popularity of discount airlines. Hence, in 2003, after eight full years of operations, Eurotunnel counted just 6.3 million passengers and 1.7 million tons of freight, and posted a €1.9 billion loss. The income shortfall has left the company scarcely able to honor payments to creditor banks, much less post profits or pay dividends. Financial aid from the British or French governments is explicitly prohibited in the 1986 treaty...
...RICHARD SHIRREFS, Eurotunnel CEO, on the Chunnel operator's ?1.9 billion loss in 2003, ongoing debt and low traffic
...likely the bank will dump its 1.6% stake altogether. True, it still has more than 35 billion left in its portfolio. But look for an eventual sale of Deutsche's 11.8% share of DaimlerChrysler and 3.2% of insurer Allianz. - By Peter Gumbel No Light At The End Eurotunnel, the Anglo-French Channel Tunnel operator, announced a 7% drop in revenue for the first half of this year, leaving it unable to meet interest payments on debts of almost 39 billion. Price cuts prompted by fierce competition nulled an increase in car and truck traffic, while passenger numbers on the Eurostar...