Word: multibillions
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Even to a nation grown accustomed to multibillion-dollar business frauds, the allegations are shocking. A Scottish psychiatrist has charged Upjohn of Kalamazoo, Mich., with falsifying scientific evidence regarding the safety of the sleeping pill Halcion (annual worldwide sales: $240 million). The accusation has prompted a federal investigation. Dow Corning Wright of Arlington, Tenn., stands accused of failing to report that its silicone-gel breast implants were associated with severe side effects -- including the development of autoimmune disorders like rheumatoid arthritis and lupus. That product and similar implants made by other manufacturers have been placed in 1 million...
Popular with both parties, but the multibillion-dollar cost could be a barrier...
...race to build what has been dubbed the High Speed Civil Transport (HSCT) is a multibillion-dollar gamble fraught with technological challenges. To be profitable, the plane will have to carry more than twice as many passengers as the Concorde, operate at higher speeds, span greater distances, use less fuel, run quieter and produce far less pollution. Can do, say the plane's advocates, though any such plane isn't likely to fly until at least the year...
...scientific achievements but has also paid handsome financial dividends. For example, basic studies of bacterial resistance to viruses led to the discovery of restriction enzymes, the biological scissors that can snip DNA segments at precisely defined locations. That discovery in turn made possible recombinant- DNA technology, which spawned the multibillion-dollar biotechnology industry. And the laser, now the vital component of devices ranging from printers to compact disc players to surgical instruments, was a serendipitous by-product of research on molecular structure...
...fairy tale is heading for a no-no era denouement. In 1976 ex- encyclopedia salesman William Farley bought a California citrus processor with just $25,000 of his own money. Within years, he ruled over a multibillion-dollar empire. Then came Farley's folly: the 1989 leveraged buyout of sheet-and-towel giant West Point-Pepperell, for $1.6 billion. Burdened by debt, he endured the junk-bond collapse, the recession and the gulf war. But last week Farley accepted a "prepackaged" bankruptcy plan that will slash his share of West Point-Pepperell from 95% to 5%, the biggest blow...