Word: returns
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Dates: during 1990-1999
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...filed lawsuits against the company, seeking damages for numerous illnesses allegedly brought on by their breast implants. Despite the stunning amounts of cash it compels the company to turn over, Tuesday's settlement is good news for Dow Corning - the plan allows it to pay back its creditors and return to business. Not just yet, though: The specifics of the bankruptcy ruling, to be released next week, could raise some hackles and send the settlement to appeal. Particularly if the plaintiff groups (or their lawyers) feel slighted by their share of the damages...
...Forbes magazine estimated at $524,000 last year. "Together we have built a wonderful dream," Roche said in his resignation letter. "We have proved that integrity, values and courage can still triumph in a corrupt world." No one answered the door at Roche's home, and he did not return calls seeking comment...
...says, "we had to raise a lot more money or settle into a growth rate that in my opinion wasn't enough for long-range prosperity." So in 1998 he sold out to Gresham Computing, a British firm. Gresham coveted Open Microsystems' technology, employee team and customer list. In return, Gresham enabled Open, now renamed Gresham Enterprise Storage, to "get into deeper pockets," as Groves puts...
...number of would-be viators has increased, the industry has gone into hard-sell mode, promising fail-safe, above-market returns. The harsh reality, though, is that investors are in some measure betting on the death of the sellers. If the person whose policy you buy dies in a year, it's a great investment; but if he lives five, it's a dud. "Profitability is related to the predictability of death, which has proved to be singularly unpredictable," says Bill McDonald, chief of enforcement for the California Department of Corporations, who thinks viaticals may need to be outlawed...
Many viatical deals are marketed to seniors looking for a slightly better return on their retirement income. Ursula Linke, 60, of Silver Spring, Md., and her husband, tired of earning a relatively paltry 4% to 6% on their annuities, moved their entire life savings of $700,000 into viaticals sold by Liberte Capital Group of Toledo, Ohio, which claimed to pay 14% on a one-year maturity. "We wanted to have a sound investment, retire and have some peace and tranquillity," says Linke. After the first few quarterly payments arrived from the company, the money suddenly stopped coming. Liberte Capital...