Word: firmnesses
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...days after last month's Grammy Awards, Terra Firma, the venture-capital firm that owns EMI, announced that the record giant had lost nearly $2.5 billion last year. Not only that, a brick wall looms: EMI has to raise more than $200 million in the next six months to ensure that it does not fall into the hands of Citigroup - the bank that lent Terra Firma, controlled by British financier Guy Hands, the cash to buy it 2½ years ago. (See the top 10 albums...
...that Baidu's shareholders are likely to complain. The company already collects 64% of the revenue generated by search engines in China via advertising, according to Analysys International, a market-research firm, and claims 76% of overall search traffic. The comparable figures for Google are 31% and 20%. If Google soon shuts down its Chinese search engine (Google.cn) - as most analysts believe it will - Baidu will grab even more. Dick Wei, senior analyst at JPMorgan Securities in Hong Kong, estimates that if Google loses a quarter of its China traffic, Baidu will reap a 6% gain in revenue; the gain...
...companies can't sell stock or bonds as easily as investors would like to buy them, the cost of capital will go up," says James Ellman, president of the money-management firm Seacliff Capital. "That hurts companies' ability to expand, buy equipment and create jobs. GDP grows slower." (See pictures of TIME's Wall Street covers...
...number of financial firms, including Citigroup, JPMorgan and Morgan Stanley, say they have already exited proprietary trading, or at least limited their activities in that area dramatically. Goldman Sachs says proprietary trading makes up less than 10% of the firm's revenue. But many observers say the trading these firms do for their own accounts is much larger than they...
...encourage you to consider the notion of whether you’re really taking a risk,” said Thomas H. Mattox ’82, the panel’s moderator and managing director at Lancaster Street Partners, a real estate firm. “You’re going to have your Harvard degree to fall back on and a community to support...