Word: multibillions
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...University, which is gearing up for a multibillion-dollar capital campaign, took the top spot for the second consecutive year...
...Until recently, it hasn't had to. Although ostensibly privatized and deregulated during the 1980s and '90s, NTT's fixed-line business remained virtually unchallenged. With a 99% market share, NTT used monthly fixed-line fees as a multibillion-dollar annuity stream to fund growth enterprises such as DoCoMo, its successful mobile-phone service spun off in 1992 (NTT still owns 64%). But two new entrants in the fixed-line industry have rocked the company's complacency. Last August, Softbank, a leading Japanese broadband provider, announced it would begin offering traditional home-telephone services at a discount. Two weeks later...
...CHARGED. NINA WANG, 67, chairperson of Hong Kong developer Chinachem Group, with forging her husband's will; in Hong Kong. Famous for her eccentric attire and hairstyles, Wang took control of her husband Teddy Wang's multibillion dollar company and estate after he was kidnapped in 1990 (and declared dead nine years later). In a lurid 172-day civil case brought by her father-in-law in 2001, a court ruled that the will she based her claim on was in fact a fake. Wang, who maintains her innocence, could lose her claim to her husband's estate and company...
...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. Could he be overtaken...
...celebrities' dirty secrets. We ogle (and then condemn) the dropping of a bathrobe on a Monday Night Football teaser; leaf through Jenna Jameson's best-seller "How to Make Love Like a Porn Star"; log onto the Internet and bathe in all that lovely cyberswill. Not to mention a multibillion-dollar porn industry that produces some 10,000 films a year, far more than the annual number of non-porn films...