Word: pieds
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More than 100 math enthusiasts gathered yesterday to celebrate “Pi Day” in the Mathematics Department lounge in the Science Center...
There are no “For Sale” signs plastered to big, beautiful houses around Harvard Square, which is too bad for the brothers of Pi Kappa Alpha (“Pike”), Harvard’s newest fraternity. They hope one day to have their own place to party despite the discouraging state of the Cambridge real estate market and the fact that other fraternities have tried and failed to maintain a building—or a high profile—on campus...
...they kidding? Not a bit. Volkswagen has spent nearly $900 million developing the new car, which is called the Phaeton and will be officially unveiled at the Geneva motor show next month. The brainchild of VW CEO Ferdinand Piëch, the Phaeton represents the company's latest attempt to move the brand up-market away from commodity car-making and into the profit zone long dominated by Mercedes and BMW. But it's a huge gamble for a company whose very name means People's Car. "The question is, will a customer want to pay that amount of money...
Maybe, but it's the kind of risk that Piëch has relished since taking over as VW's top executive in 1993. Piëch has motor fuel in his blood as the grandson of Ferdinand Porsche, who founded the legendary sports-car company. Under Piëch's command, VW has become Europe's biggest carmaker and fourth-largest in the world in terms of autos sold. He has expanded its car business by successfully integrating new brands such as SEAT and Skoda. And Piëch has added some boutique carmakers like Lamborghini and Bugatti...
...Piëch is slated to move up to the company's supervisory board this April. He will be succeeded as CEO by Bernd Pischetsrieder, who joined VW in 2000 after being forced out of rival BMW in the wake of the company's calamitous investment in Rover. With his insider knowledge of BMW's successful effort to create a high-end image, Pischetsrieder is expected to concentrate on brand building at VW, while trying to get the company's costs down. Some shareholders hope that he will also show more attention to the stock price than Pi...