Word: hooded
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...deductions have the effect of equalizing the differences in the awards. Critics have called this Feinberg's "Robin Hood strategy." For many people in the room, the number is now at or close to zero. Feinberg says he will make sure no one gets zero. "Leave it to me," he says. But nowhere will that be written into the rules when they are finalized in mid-February. Likewise, many fiances and gay partners will be at the mercy of Feinberg's discretion in seeking awards. Before finding out exactly what they will get - and the rules are complex - families will...
...decade reorganizing itself. The latest--and maybe the last--effort is being led by Charles Conaway, 41, whom the company plucked from drugstore chain CVS 18 months ago. Late last week the company's stock was pummeled, dropping 14%, to $4.71, after Prudential Securities retailing analyst Wayne Hood suggested in a report that bankruptcy would not be a bad move for K Mart. A Chapter 11 filing would allow the company to walk away more easily from the leases of underperforming stores and warehouses and move ahead with construction of new facilities in more promising locations. Hood believes that...
...Mart was not amused by Hood's report, but Conaway showed some bravado in the face of the onslaught: he refused to interrupt his vacation to respond to Hood's salvo. Said K Mart spokeswoman Lori McTavish: "We're confident we have enough resources and enough lines of credit to get through. We're implementing a major change in the company's operations and culture." Other analysts were surprised only by the reaction to Hood's report, which recommended that investors sell the stock. They did, driving it to a 30-year low of $3.89 before it recovered. "This report...
Also in the third quarter K Mart's inventories swelled by 5.6% as sales fell. Hood estimates that for each 1% increase in inventory this year, K Mart's cash flow will drop some $40 million. That's money the company needs to continue its program to remodel old stores and build new Super K supermarket-discount stores. If K Mart had been as efficient in selling as Wal-Mart, it could have earned $200 million in the third quarter instead of losing $224 million...
...have been known to carry out honor killings. However, Muslim perpetrators often claim their crimes are justified by harsh Islamic penalties, including death for adultery. And so religious and cultural customs become confused. (Read a story on how a Muslim community is moving on after the shootings at Fort Hood...