Word: firmness
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...fall in Kraft's shares - was never likely to be welcomed. As a multiple of Cadbury's profit before deductions for tax and other charges, the deal is worth roughly a third less than the average for takeovers in the global food business since 2000, according to investment-research firm Sanford C. Bernstein. Granted, the world is in an economic slump and there's no rival bid on the table, but Kraft's offer would amount to "the lowest multiple in a major food deal over the last decade by 18%," Bernstein analysts wrote in a note to clients...
These days, you don't have to work on Wall Street to get entangled in an insider-trading scandal - just ask Martha Stewart. The homemaking guru spent five months in prison in 2004 after a series of events triggered by her sale of $228,000 in shares of biomedical firm ImClone Systems, the day before its value plunged 15%. Thanks to a 1997 Supreme Court ruling, even those who lack a connection to a company cannot trade on inside information if they know it is meant to remain confidential. (ImClone was run by Stewart's friend, Sam Waksal.) Ultimately, Stewart...
...that achievement? Even if Barack Obama tries to make peace with the mullahs of Iran or with insurgents in Afghanistan, as Reagan did with the U.S.S.R., there's no guarantee he'll succeed. The threats facing America cannot be willed away. Defusing them will ultimately require the mix of firm resolve and patient diplomacy practiced by successful American statesmen throughout the Cold War. Reagan's gift was his ability to speak candidly about the realities of the age while still presenting, and working toward, an optimistic vision of the future. He sensed when the right risk might be rewarded. Obama...
Luckily, Wilson still had some of that Forstmann Little cash lying around. He called an old Citadel hand, the fortunately named Bob Proffitt, and found a local private-equity firm, Endeavour Capital, that was willing to back Wilson's new venture, Alpha Broadcasting. It paid $11 million for Paul Allen's Portland stations--Allen bought them for about $50 million. Experts say the price premium for radio stations has fallen from 20 times earnings to eight times...
...Tokyo, trying to hold fast to its campaign promises to resolve the base issue in step with the needs of Okinawans, has felt diplomatic pressure from the U.S. State Department over the past few weeks to make a firm decision to enable the terms of the 2006 agreement on Futenma. In late October, Secretary of Defense Robert Gates pushed Hatoyama to uphold Japan's end of the 2006 agreement. "Secretary Gates played the bad cop so that President Obama won't have to," says Michael Green, senior adviser and Japan chair of the Center for Strategic and International Studies...