Word: firm
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...more direct than others - and more misguided, since the president can't technically fire the SEC head - but McCain's sentiment was nothing new. For months, calls for the SEC to do something more in the financial markets has been heard all over, from Congress, a midtown Manhattan law firm, the Secretary of the Commonwealth of Massachusetts, cable TV business news and former SEC commissioners. But is all the criticism being hurled at Cox, a corporate lawyer who served in the Reagan White House and as a Congressman from Orange Co., Calif. for 17 years before being plucked...
...Also on Sept. 22, another Japanese bottom fisher took a step it had been preparing for since spring, when Kenichi Watanabe, CEO of Nomura Holdings, began raising a $5.6 billion war chest to increase his firm's international footprint. Tokyo's biggest investment bank said it would buy the Asia operations of Lehman Bros., the bankrupt Wall Street firm, and was in negotiations to take over its European operations as well. The $225-million deal saves the jobs of about 3,000 Lehman employees, some of whom expressed surprise as well as relief that they might keep their jobs...
...bankruptcy it was in negotiations with the state-owned Korean Development Bank, which was contemplating an investment of up to $6 billion. But partly due to political pressure at home, KDB backed off. Koreans questioned why the country's investment arm should bail out a failing Wall Street firm. Asked an Internet blogger: "Didn't we see what happened to the Chinese...
...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...
Cradling a basket piled high with firm, round loaves of bread, tender grapes, and delicately decaying cheeses, Roxanna sped merrily across the Piazza del Duomo. An overturned box of lettuce had delayed her morning’s errands—it had taken nearly fifteen minutes of apologies to soothe the withered old grocer—but Roxanna’s step was light. Surely the Viscount and Viscountess would not mind. Look how the dome of the Santa Maria del Fiore caught the mid-morning sunshine. Look at those clouds bounding through the blue...