Word: reformer
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...France, the Commission is in the cross hairs because of a recent proposal to reduce Common Agriculture Policy subsidies, the biggest beneficiaries of which are France's notoriously volatile farmers. The government of President Jacques Chirac, who already blocked cap reform in 1999, has made it clear that the French will do so again. Nine other member states have aligned themselves with France. Meanwhile, four other members have said the cap reforms do not go far enough, leaving the Commission caught in the middle...
...they were cash or outright grants of stock. That measure was backed by Federal Reserve Chairman Alan Greenspan as well as investor Warren Buffett as essential to remove perverse incentives that today encourage top executives to mislead investors. But executives, who get lavishly paid in options opposed that reform, and their friends in Washington sided with them, against the interests of investors...
That last phrase looms large in Bush's thinking. He resisted much of what the Senate proposed until the political pressure became overwhelming. He is now urging Congress to pass quickly the reform bill, which stiffens penalties for fraud and increases funding for the SEC, whose budget growth he had limited in February. Whatever legislation Bush signs will not address the widespread use and misuse of stock options, which have been cited as one of the main culprits of the market bubble and accounting legerdemain: the higher a company's reported profits, the higher go stock prices, and the more...
...farthest reaches. But even as top party bosses gathered in the seaside resort of Beidaihe earlier this month to decide when Hu would replace President Jiang Zemin, ordinary Chinese were finding the selection of the country's next supreme leader largely irrelevant. After more than two decades of economic reform, China's centralized system has given way to clusters of fiefdoms operating outside Beijing's shrinking sphere of influence. Absolute power, once exemplified by the personality cult of the Great Helmsman, has devolved to regional party bosses who now hold sway over citizens' everyday lives. "Hu is being groomed...
...Hendra Winata, a Jakarta-based legal expert, "the mastermind behind the killing has to get a heavier verdict than the executioners." The court explained its decision with a list of mitigating factors: that Tommy had been depressed, had a family to support, that he was young and capable of reform. Either way, a court in Indonesia showed that no one is entirely above the law?a principle that Indonesians have been waiting to see in action for far too long...