Word: handsful
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A few 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...
EMI's financial problem is simple. When Hands bought the 113-year-old British company in August 2007 - just before the credit crunch hit - both he and Citigroup expected he'd be able to finance the $4.2 billion in debt he'd taken on to close the deal. Hands also...
Hands, now living as a tax exile on the island of Guernsey in the English Channel, needs to inject about $200 million into the business by the summer; otherwise, Citigroup gets the keys. His allies say he can raise the money from third-party investors, but that is only enough...
The story begins with a right-wing Jewish settler organization called Elad, but also known as the Ir David Foundation, which for the past four years has exerted control over most of the holy city's excavations. Led by David Be'eri, an ex-Israeli commando who used to disguise...
It shouldn't be. Jerusalem is one of the world's richest archaeological sites. In its 6,000-year history, the city has changed hands more than 120 times. It has been ruled - and this is an incomplete list - by Jebusites, Israelites, Romans, Persians, Greeks, crusaders, Mamelukes, Ottomans, British, Jordanians...