Word: profitably
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...touted as the next Viagra. The prize is almost certainly worth billions in sales. But with a potential payday like that, why is Bayer getting out - and why have no suitors jumped in yet? That's the paradox across the drug industry: pharmaceutical companies are among the most profitable legal businesses in the world, and employ some 520,000 people in Europe. And yet the sector has been behaving lately as if it were in a sharp downturn. The battle for control of Bayer is just the latest in a series of corporate partnerships, mergers and hostile takeovers that have...
...kill you. I want this settled tonight." Merrill agreed to pay the fine, apologize and reform the way it paid its analysts. The public applauded the deal, though Spitzer was criticized. Some felt he was too lenient with Merrill, which can easily afford $100 million (average profit over the past three years: $2.35 billion). Moreover, no one went to jail. Others say he was too harsh, meddling in an area in which he had no expertise or clear jurisdiction. Spitzer agrees that the Securities and Exchange Commission (SEC) was ideally placed to pursue the case; when it didn...
...should be expensed in full each year. It was as if an ordinary person had paid his phone bills but written down the payments as if he were building a phone tower in his backyard. The trick allowed WorldCom to turn a $662 million loss into a $2.4 billion profit...
...past year, won't be disconnected anytime soon. Now, with the prospect of a possible fine of up to $9 billion on the horizon, he has to craft a viable reorganization plan for the largest corporate bankruptcy in U.S. history, involving $107 billion in assets. To generate real profit, he'll have to consider unloading its shrinking paging business and handing out even more pink slips. He also wants to turn the company into (don't laugh) a paragon of corporate governance--and is actually required to do so as part of his new contract, worth about $6 million annually...
Given that legacy, it's worth recalling how revered Enron once was. The firm tried to put into practice the idea that nearly anything can be turned into a financial product and, through complex statistical modeling, traded for profit. Asset-light and heavily reliant on intellectual capital, Enron rewarded innovation and punished employees deemed weak. Those ideas were New Economy chic, and to some extent retain currency. Energy traders still use financial instruments that Enron pioneered in order to hedge against price swings. As for those notorious off-balance-sheet partnerships, "they can be used legitimately for financing projects...