Word: investers
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...South African government has forced international pharmaceutical companies to back down from attempts to stop the country importing cheaper generic versions of patented AIDS treatment drugs. But even at the discount prices offered by manufacturers in India, the government of the cash-strapped African nation remains reluctant to invest the billions of dollars required to keep a burgeoning AIDS population alive. By inspiring them with his life and struggle to survive, Nkosi Johnson's dying has served as an indictment, not only of the South African authorities but of all the governments and corporations with the means to make...
...opened Aureole in 1988--still one of New York City's most dazzling restaurants--he created incentives unheard of in the Old World realm of haute cuisine. First he gave his key people cash bonuses for performance. As his business expanded, he gave them something better: a chance to invest with him in new ventures. That could be another restaurant, a florist, a catering operation or a cutlery maker--all part of his growing $36 million-a-year gastronomic empire. "With European chefs," he explains, "the owner owned the place, and nobody even knew whether the restaurant was making money...
...that right, Charlie. That's when he created his inner investment group. "In any business deal I do going forward," Palmer explains, "I offer [the staff] an opportunity to invest in any project on the same terms I do." If, for example, Palmer invests $200,000 to buy 30% of a business, the group might invest $100,000 for an additional 15%. Now numbering 22, the group can choose to invest or pass. And members decide which employees can join...
...million in tobacco company stocks. Keeping the almost 20 million shares looked socially irresponsible since Florida was suing Big Tobacco for state medical dollars spent treating smoking-related illnesses and death, which resulted in a $13 billion settlement. As early as Wednesday, however, Florida may well decide to re-invest in the industry it has so successfully demonized in recent years. With tobacco stocks on the rise, Florida Insurance Commissioner Tom Gallagher now suggests that the state should do what's best for its $100 billion retirement fund. But at least he didn't try to rationalize the idea: asked...
...Florida does re-invest in tobacco, critics will be sure to point out that almost three-quarters of the $400,000 the industry funneled to the state's 2000 elections went to Republican candidates. Gallagher, Governor Jeb Bush and Comptroller Roger Milligan, who oversee the retirement fund, are Republicans all. But Florida wouldn't be the first to reverse itself: of the nine states who divested themselves of tobacco since 1996, Kentucky and Maryland have since allowed for re-investment. Still, Rhea Chiles, wife of the late Florida Governor Lawton Chiles, who led the divestment drive, noted that...