Word: profiteered
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...part, said CEO Jamie Dimon, to enable it to buy back as quickly as possible the $25 billion in preferred shares the government purchased from the company in October. That would free JPMorgan from government-imposed pay limits and other pressure from Washington and allow its shareholders to profit more fully from a financial rebound. (Read "How to Know When the Economy Is Turning...
...bigger challenge financially is the JLR acquisition. Analysts say Tata Motors overpaid when it bought the loss-making British brands from Ford Motor in June, 2008. Just before the deal was announced, JLR reported an annual profit for the first time since it was acquired by Ford (the U.S. carmaker bought Jaguar in 1989 and Land Rover in 2000). But in the months leading up to the completion of the deal, sales of luxury cars and SUVs tanked as the global credit crisis worsened. JLR slipped back into the red, losing $383 million in the first half...
...market value has dropped to $17 billion. Its value now is about the same as trash hauling firm Waste Management (WMI). In the last quarter, the portal company had an operating loss of $278 million. With goodwill and restructuring charges taken out, Yahoo would have made a modest profit. The sales are not likely to get better...
Others are cheering loudly for the trio, though, including some lawyers and academics who have long argued that copyright law protects only the powerful, and helps maintain America's place as an exporter - for profit - of cultural works. If a movie is available in the U.S., why shouldn't a computer user in China get to see it too - even if the movie won't be released in his own country for months...
...also worked for a non-profit organization in the Bronx called PROMESA (the Puerto Rican Organization to Motivate, Enlighten and Serve Addicts) after working as a district manager in the Bronx. Carrion was reportedly hired in 1993 in part to improve the image of the organization, which was reeling after a PROMESA official was convicted of ordering the murder of a woman who was auditing the organization's finances...