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...political stances. While divestment is similar to traditional boycotting of products, classic economic theory predicts that it will have absolutely no effect. Unlike goods and services, whose prices can be affected by changes in demand, the price of a financial asset is determined by its expected returns. If a firm forgoes a profitable investment, then another firm will take advantage of that investment instead. In today’s world of highly mobile global capital, opportunities for profit rarely go unnoticed—someone will step in as soon as we leave...
...times greater than those based on the old evidence alone." The charges concern allegations that Zuma was involved in the payments of bribes by French arms company Thint during a 2000 deal; in 2005, one of Zuma's former aides was convicted of soliciting a bribe from the same firm. Zuma has long claimed the charges are the result of a conspiracy against him, and has said he would only step down from his position with the African National Congress (A.N.C.) if convicted...
First, a group of U.S. Jaguar dealers said they opposed the possibility that Ford, Jaguar's owner, might sell the British luxury car brand to an Indian firm. Two of the three firms that Ford has shortlisted as potential purchasers are Indian: Mahindra & Mahindra and Tata Motors. The dealers said that the sale to an Indian company would hurt Jaguar's image. "I don't believe the U.S. public is ready for ownership out of India of a luxury car make," Ken Gorin, chairman of the Jaguar Business Operations Council, told the Wall Street Journal. "And I believe it would...
...days later Indian Hotels, which owns the luxury Taj hotel chain and is itself a branch of the Tata empire, was told its overtures to New York Stock Exchange-listed luxury hotel and cruise firm Orient-Express were unwelcome - and potentially damaging. Indian Hotels recently upped its stake in Orient-Express to 11.5%. But Orient-Express CEO Paul White, in a letter to Indian Hotels Vice-Chairman R. K. Krishna Kumar, wrote that "any association of our luxury brands and properties with your brands and properties would result in a reduction of our brands and of our business and would...
...that weren’t obnoxious enough, it sold for $100 million, which was paid to the artist in cash (straight up). Luda, you might have what “feels like a midget hanging from my necklace,” but the members of the mystery investment firm that purchased this (revolting) display of conspicuous consumption can now sport an entire human skull worth of bling-a-ling if they so choose. —Sanders I. Bernstein ’10 is the incoming Books editor. In addition to contemporary concept art, he hates candy, children, and Christmas...