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...raising huge war chests for further acquisitions. They include Goldman Sachs, which last month raised a further $8.5 billion, and the Blackstone Group, which the Financial Times reported last week was planning a new record-breaking $11 billion fund. Indeed, private equity has become such a force that the mere rumor of a forthcoming deal can have a huge impact on stock prices. Shares in Whitbread, the British brewing and restaurant firm, jumped by almost 9% last Thursday on speculation that several private equity firms are circling. The stock dropped back again a bit on Friday; the company didn...

Author: /time Magazine | Title: Bizwatch | 5/29/2005 | See Source »

...exciting. Besides having a terrific wineshop, Breuer also offers the town's best digs. The R?desheimer Schloss is an 18th century hotel in the middle of the oldest part of town and features excellent cuisine and a first-rate wine list. The oldest vintage dates from 1704 (a mere $3,227). More reasonable was a $36 bottle of 1989 Breuer Riesling from the Bischofberg vineyard. Often oompah bands can be heard in the distance?a perfect German winery experience...

Author: /time Magazine | Title: Raising Riesling | 5/23/2005 | See Source »

...Thank you for your coverage of the election of our new Pope. We Catholics cannot explain in mere human terms the joy of having chosen a Pope. But as the whole world has seen, we certainly can express that joy. As free and responsible persons, we follow the Pope, the vicar of Christ on earth, not out of fear but out of love. We know by faith that when we listen to the Pope, we follow Christ. (The Rev.) Michael Angelo Cardenas Manila...

Author: /time Magazine | Title: Letters | 5/23/2005 | See Source »

...earth, is elected simply because it is the will of God. I have absolutely no doubt that Benedict is the right man for the job. Bill Sullivan Colorado Springs, Colorado, U.S. Thank you for your coverage of the election of our new Pope. We Catholics cannot explain in mere human terms the joy of having chosen a Pope. But as the whole world has seen, we certainly can express that joy. As free and responsible persons, we follow the Pope, the vicar of Christ on earth, not out of fear but out of love. We know by faith that when...

Author: /time Magazine | Title: Letters | 5/19/2005 | See Source »

...desheimer Schloss is an 18th century hotel in the middle of the oldest part of town and features excellent cuisine and a first-rate wine list. The oldest vintage dates from 1704 (a mere $3,227). More reasonable was a $36 bottle of 1989 Breuer Riesling from the Bischofberg vineyard. Often oompah bands can be heard in the distance - a perfect German winery experience...

Author: /time Magazine | Title: Raising Riesling | 5/19/2005 | See Source »

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