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Saif Ahmed began living the Dubai dream five years ago. Armed with an M.B.A. from the University of Toronto, the Canadian entrepreneur moved to the gulf city-state and co-founded property developer Universal Canlink Inc. By 2006 the firm had annual revenues of $15 million, luring foreign investors with tales of "meteoric" growth in the local property market. Lately, with the global financial downturn spreading to the Middle East, Ahmed has come back to earth. "Before, people were buying blindly, without asking much about the details," he says. "Now such risk takers have disappeared...
...nation. American Express announced that it will slash 7,000 positions - some 10% of its staff - as part of an effort to save $1.8 billion next year as a counterweight to the rising number of consumers defaulting on their payments. Within hours of that announcement, communications giant Motorola Inc., which cut some 2,600 jobs in April, said it would trim an additional 3,000 staffers over the next several months after posting a third-quarter loss of nearly $400 million. It will also postpone a planned spin-off of its ailing cell phone division. (See pictures of the global...
Speaking of tradition, recently, our president and worldwide publisher, Ed McCarrick, announced his retirement after 35 years at Time Inc. I cannot write those words without hearing Ed's wonderful baritone intoning, "I've had the great, good fortune of working here for 35 years." Well, I've had the great, good fortune of working with Ed for the past 2 1/2 years, and TIME has had the great, good fortune of having Ed's drive and enthusiasm and deep loyalty for 25 of those 35 years. Ed was also fond of saying "I bleed TIME red," and he does...
...video ends with a disclaimer that the views expressed "DO NOT REFLECT THE OPINIONS OF ANHEUSER-BUSCH COS INC." - and considering John McCain's wife Cindy is the heiress to an Anheuser-Bush beer distributor fortune, that's probably not a surprise. But an ad that manages to humorously skewer the Bush Administration's record while subtly tying it to McCain's (Stone is watching a McCain speech in the spot's open) and dust off a fondly-remembered if little-mourned catchphrase? That's sure to give a few Joe Sixpacks pause. True...
Whit Ayres, Republican pollster/consultant; president of Ayres, McHenry & Associates, Inc...