Word: partnerized
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...they move fast, prodding the firms to make their operations leaner and frequently reshuffling management. The worse off an operation is, the more money the investors stand to make from selling after turning it around. "We like the complexity of Europe," says Jim Coulter, a San Francisco--based founding partner of Texas Pacific. "It often means there is more inefficiency...
...Obscured by the political hysteria is the fact that, according to U.S. Securities and Exchange Commission (SEC) documents seen by TIME, CNOOC, not Chevron, was actually Unocal's first choice as a merger partner. Some beltway politicians would paint CNOOC, which is 70% state-owned, as an arm of a Communist government out to strip the U.S. of vital energy supplies. TIME's reporting on the genesis of CNOOC's Unocal bid?dubbed "Operation Treasure Ship" by the Chinese company's investment bankers?reveals a far more complicated reality. CNOOC is a flagship Chinese firm determined to emerge...
...whether the company was prepared for what was likely to be a hostile U.S. political reaction to the deal. Henkes wondered about the debt load that CNOOC would have to take on to finance the transaction?the firm is seeking to borrow about $16 billion. He asked whether a partner might be brought in to absorb some of the risk. (This was something Haier, a large Chinese appliance company, did, by turning to a U.S. private-equity firm as its partner in making a bid for Maytag last month...
...According to TIME's sources, CNOOC's CEO may also decide to bring in a U.S. partner to help shoulder some of the risk and defuse the anti-Chinese political atmosphere. A spokesman for CNOOC denies that this option is being considered?"we're full steam ahead with our current bid"?but some analysts believe bringing in a partner would have been the wisest course from the start. If it happens, it may also be a signal that in the midst of a historic transpacific takeover bid, CNOOC's management and its board may finally be on the same page...
...Tina Turner and Tom Hanks' wife, Rita Wilson. Yet even as designers such as Armani and Tisci make their mark on the Paris couture scene, some old masters have been reasserting their influence. Over dinner in his château outside Paris, Valentino confirmed that he and his business partner, Giancarlo Giametti, had renewed their contracts with their owners - the Italian textile group Marzotto - after rumors last season that the Roman couturier would soon retire. Last week, Valentino showed no sign of quitting anytime soon, as he showed an ever-rich collection of velvet suits beaded in jet, topaz...