Word: landesbank
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...Concorde. The A380 could be a market disaster." John Leahy, Airbus' American-born top salesman, dismisses that prospect, saying airlines want both options - the A380 and the A350. No matter who's right, Boeing can't afford to make the wrong call. Ulrich Horstmann, an aerospace analyst for Bayerische Landesbank in Munich, says: "If Boeing doesn't make the 7E7 a success, it has no more trumps in its hand." Don't think Stonecipher isn't aware of that. He has overseen a revamping of Boeing's commercial airplane unit and recently approved the firing of the head...
...Werner Seifert told TIME. Of course, that's assuming Seifert's bid prevails. He has been playing a hurry-up game, but Furse wants to slow down - and encourage a bidding war that drives up the price. "I'm expecting one," says Olaf Kayser, an analyst at Landesbank Rheinland-Pfalz. "The loser will fall behind and be in a difficult position." Deutsche Börse has offered $9.91 for each L.S.E. share, but that bid was spurned by the L.S.E. Analysts think the eventual price will be at least $11.20, which would drive the total price up to $2.78 billion...
Engine Trouble Enigmatic British billionaire Bernie Ecclestone has ruled Formula One racing for almost 30 years through a web of firms. But London's High Court last week handed Speed Investments - a consortium of Bayerische Landesbank, JPMorgan and Lehman Brothers - control over Formula One Holdings (FOH), one of the companies that runs the multibillion-dollar F1 business. Why the ruling? The banks have held a 75% stake in SLEC Holdings, a firm that controls FOH, since 2002, when the Kirch media empire, the previous stakeholder, collapsed. And the banks may now seek a greater say at two other Ecclestone firms...
Kirch's failure immediately turned into a political issue between Chancellor Gerhard Schröder and his opponent in September's national elections, Bavarian Premier Edmund Stoiber. Schröder, who heads the Social Democratic party, said the Kirch bankruptcy demonstrated Stoiber's failed leadership because the Bayerische Landesbank, which is 50% owned by the Bavarian government, is Kirch's biggest creditor with $1.7 billion in outstanding loans. "That is not an indication of economic competence but the opposite," Schr Schröder said. Stoiber, who is the candidate of his Christian Social Union and the mainstream Christian Democrats, said...
Where Kirch will next turn for help is uncertain. It would probably be a bad idea to approach Stoiber, who formally launched his campaign for the German chancellorship last month. Bayerische Landesbank - which is 50% owned by the Bavarian state, where Stoiber has been premier since 1993 - is Kirch?s biggest lender, with an estimated $1.7 billion in loans. Last year, the regional government saw to it that the bank provided a loan for Kirch to acquire a stake in Formula One motor racing. But the bank?s massive exposure to the media empire has raised eyebrows, and political pundits...