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...According to a 200-page CBI report, Satyam insiders forged board resolutions to secure $260 million in bank loans which were diverted for personal use, and over several years generated fake customer identities and account statements to inflate Satyam's revenues by millions of dollars, boosting the company's share price and making its books look far healthier than they were. Investigators following the paper trail have discovered that embezzled funds were channeled into 1,065 properties valued at $74 million, including some 6,000 acres of land, 40,000 sq. yd. of housing plots...
...unclear whether Satyam's new owner, Tech Mahindra, will benefit as assets are identified and recovered. Tech Mahindra bought a 47.2% stake in the tainted company for $600 million in a government auction in April. If the fraud money reappears as assets in the name of the company, its good news for Tech Mahindra, which paid a huge sum for Satyam and its liabilities, says Suresh Talwar, partner at Mumbai-based law firm Talwar Thakore & Associates, Satyam's corporate counsel until 2006. It could be a bonanza for shareholders, too, in the form of dividends or bonus shares, he says...
...trillion in credit-card debt this time last year-about the same as the value of all the goods and services produced in South Korea annually. We've bought so much stuff that we've struggled to find places to fit it all. The U.S. went from having 300 million square feet of self-storage space in 1984 to 2.4 billion square feet in 2008, according to the Self Storage Association, a 700% surge. By 2005, one in five new houses came with three garage bays-the third, real-estate agents explained, to store all the "toys." (See which businesses...
Scientists do not yet know whether myostatin-related gene therapy will even work in humans. Given the financial and regulatory hurdles to launching a first-phase trial, it could take years and several million dollars before researchers could replicate their animal findings in people. But advances like the muscle trial in monkeys help attract funds - largely from advocacy groups like the Muscular Dystrophy Association and charitable organizations founded by patient families, as well as drug companies and the federal government - to a field that has until now been somewhat better known for its failures. In 2003, for instance, two French...
...From 1950 to 1953, communist forces from North Korea and the military-run South fought one of the bloodiest civil wars of the 20th century, leaving more than 2 million civilians dead. Troops from both sides carried out mass executions. But after the Korean War ended, a succession of military dictators through the 1980s in the South suppressed the accounts; those who suggested South Korean forces might have executed innocents - and even family members who exhumed their relatives for proper burials - were harassed or arrested for being communist sympathizers...