Word: freeporters
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...hard to say no to Taufik Kiemas. That much a senior executive from Indonesia's largest foreign investor, U.S. mining giant Freeport McMoRan, knew when he accompanied President Megawati Sukarnoputri's controversial husband to the company's mine site last September. Freeport officials were aware that Taufik had been asking about a chunk of shares in the company's Indonesian operations previously held by Mohamad ("Bob") Hasan, a confidant of former President Suharto. Indeed, the issue of the shares came up soon after the Freeport executive boarded the presidential C-130 aircraft carrying Taufik and a 40-member entourage. With...
...Taufik was handed a rare no. Freeport had acted as guarantor for the original loan from Chase Manhattan of $315 million, which enabled Hasan to buy the shares. It had also pledged to lend Hasan's company any shortfall on the interest payments not covered by dividend from the stock, a sum that had climbed to some $69 million by late 2001. Freeport withdrew its guarantee and paid off the $253.4 million remaining on the loan. In return the company got back the troublesome 4.7% stake. Freeport says the decision to repay the loan came after Hasan's company said...
...story of how Taufik sought to keep a chunk of Freeport shares under Indonesian ownership?which he himself confirms?is one example of what is today Jakarta's hottest topic: the increasingly dominant role the President's husband is exercising at the most senior levels of government and business. This isn't another case of your regular, pushy presidential spouse playing gatekeeper, but of a consummate networker aggressively meddling in matters with national ramifications. To many Indonesians, the flamboyant 58-year-old Taufik is now simply the most powerful man in the country. "If Megawati is Number One and Vice...
...Commencement at which Varmus gave the keynote address wasn't his first at Harvard. As a kid from Freeport, Long Island he came up to Harvard for his father's 25th reunion. And in 1962 Varmus received a master's degree in English here before heading off to medical school at Columbia. (He had long thought that he wanted to become a doctor, though his intellectual interests drifted to philosophy and literature in college...
...blurry, as it should have been at 6 a.m. My contact lenses were dry and flat, but thank goodness my father's vision was clear--he had already been navigating the highway for an hour-and-a-half from Houston down to the less-than-picturesque "beach" of Freeport, Texas...