Word: holes
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...firm's outside lawyer, Gian Paolo Zini, and two outside auditors, Maurizio Bianchi and Lorenzo Penca, it would then cook its books some more to make the debt vanish, by transferring it to shell companies based in offshore tax havens. (Zini, Bianchi and Penca deny any wrongdoing.) When the hole grew too large to hide, Tanzi, Tonna and the two auditors allegedly came up with Parmalat's most audacious invention: a bogus milk producer in Singapore that supposedly supplied 300,000 tons of nonexistent milk powder to a Cuban importer via Bonlat, a Cayman Islands subsidiary that held the fake...
...included in the list of creditors. "The risk for Parmalat is that if the international banks are cut out as creditors, they could make life very tough for the company when it emerges from bankruptcy next year," says one person close to the U.S. banks. FUNDING THE "BLACK HOLE" Alberto Ferraris wasn't the only one who thought highly of Calisto Tanzi. Until Parmalat collapsed, the 66-year-old founder was an almost legendary figure in Italy, viewed as a classic entrepreneur who built a world-class company from scratch. Soon after founding Parmalat as a dairy company...
...were packaged as debt instruments and sold to investors - and a retainer to advise Parmalat in the acquisition of Beatrice Foods in Canada, a transaction valued at $310 million. Ferraris also laid the groundwork for a complex financing scheme through a Delaware company called Buconero, the Italian for "black hole," which Citigroup set up for Parmalat in 1999. Buconero loaned a total of $137 million to a Swiss subsidiary of Parmalat that then distributed the money to other Parmalat companies. Buconero received a guaranteed return of almost 6%, plus a total of about $7 million in fees for Citigroup...
...rather because it’s awfully graphic. The squeamish will be thankful it’s often easy to miss on a casual spin: “Have already touched it / It builds the bone / Although I’ll never need it / It fills in the hole I know” is more in-joke than description, and though “I drank from the wine that came from inside / the heart of his meat and the splurge of his sweet” is a little more explicit, it’s still couched in enough euphemism...
...penchant for leading historic comebacks, like he did as a freshman against Dartmouth in the first start of his career when he reversed a 21-0 halftime deficit. Fitzpatrick repeated that feat against Brown earlier this season, when he helped Harvard rebound from a similar three-touchdown hole to keep the Crimson’s undefeated Ivy campaign on track. He holds the school record for single-game total offense and has the second-most career passing yards in Harvard history...