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...dump unprofitable businesses and slash costs. His last slide was the usual boiler-plate disclaimer that said the presentation "involves inherent risks and uncertainties." It didn't mention the biggest risk of all: that Ackermann himself soon would end up in court, charged with a serious breach of German company law that could put him in jail for up to five years. That corporate nightmare became a reality on Sept. 19 when a German regional court in Düsseldorf confirmed that Ackermann, 55, would stand trial along with five other German executives in a case tied...
...Ackermann is under fire for his role at Mannesmann, but he’s won praise for his running of Deutsche Bank pro • Took a hatchet to bloated costs • Revamped board structure • Dumped stake in dozens of firms con • Clashed with German tradition • Not as profitable as key rivals • Faces possible five-year prison term if convicted...
...telling that European views on those issues have been as full of irritation, resentment, ridicule and Schadenfreude as they have been in “big” politics—on Iraq, the Kyoto Treaty and the International Criminal Court. At every single stop on a German book tour in support of my book OFFSIDE: Soccer and American Exceptionalism, I was asked whether American arrogance was to blame for the fact that the U.S. never developed a soccer culture comparable to that in most of the world. When the U.S. was awarded the World Cup in 1994, the European...
Professor Andrei S. Markovits is the Deutsch Professor of Comparative Politics and German Studies at the University of Michigan. This piece is adapted from a speech he will deliver this afternoon in Ann Arbor in honor of Karl W. Deutsch, an eminent political science professor, who taught for 16 years at Harvard...
...traces its roots to the 1950s, when the U.S. deported Qian Xuesen, one of its foremost rocket scientists at the Jet Propulsion Lab in Pasadena, California, for being a suspected red. Qian returned to China, helped reverse-engineer a Russian R-2 rocket (an improved version of the infamous German V-2) left behind by Soviet advisers and eventually oversaw the launch of China's first satellite, in 1970. The mission electrified millions of radicals in the throes of the Cultural Revolution, when the satellite broadcast the song The East Is Red back to Earth. Legend has it that technicians...