Word: premiums
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...which a target company assumes a heavy debt burden to make itself unpalatable to corporate raiders. In this instance, Unocal said that if Pickens succeeded in buying 50.1% or more of its shares, the company would offer to buy the rest of the stock for $72 a share--a premium of 33% over the raiders' bid--with a newly issued package of debt securities worth up to $6.3 billion. Pickens could not block that move because even though he would have a majority of the stock, company bylaws would prevent him from quickly replacing members of the board of directors...
...labor relations or its costs, and the quality of its cars was so uneven that they became the butt of national jokes. There was a glimmer of hope in the 1990s, when the firm was acquired and run by BMW. The German luxury automaker invested in a new premium model, the 75, but it didn't sell well. Jay Nagley, managing director of British consultants Spyder Automotive, says it was beautifully engineered, "but too Old World. It was a German engineer's idea of Britishness." In 1999, its last year under BMW's ownership, Rover manufactured 225,000 cars...
...earn them some goodwill." Perhaps, but elephants rarely apologize. - With reporting by Joe Kirwin Yo, Ho, Ho - and 35 bucks Are booze drinkers - already accustomed to upscale whiskey and "sipping tequila" - ready for pricey rum? France's Moët Hennessy thinks so: it's launching 10 Cane, a premium rum from Trinidad, in U.S. stores this spring. The price: $35 a bottle, about three times what you'd expect to pay for Bacardi. No word yet on whether 10 Cane will reach Europe, but rum is one of the world's best-selling spirits, with annual sales...
...greatest danger is not the playground bully but something far worse: the possibility of being kidnapped and sold to a local warlord who fancies young boys. In Afghanistan, where a premium is placed on women's honor and chastity, young boys are often considered fair game for sex. Indeed, according to Ahmed Rashid, a Pakistani author and expert on the Taliban's rise, the religious movement, with its strict emphasis on law and order, started in the early 1990s after a drunken commander picked up one of Mullah Mohammed Omar's young seminarians and performed a mock, public wedding with...
...eight years" at the firm. Companies less sensitive to oil are raising prices too. Allied Waste just won a bid to dispose of Boston's trash for $82 a ton, up 6.5% from a contract last summer. Another small but significant bellwether: Campbell's, which hasn't raised premium-soup prices in five years, just went for a 5% hike. On Wall Street, meanwhile, money managers like Doug Sheres at Rice Hall James are moving into the stocks of companies with newfound ability to charge more--without chasing away business--figuring that's where margins will be expanding...