Word: rubbers
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Directors are almost never forced to ante up personally to compensate for the losses when a company implodes. But investors suing WorldCom, where the board routinely rubber-stamped decisions by CEO Bernie Ebbers and extended him undisclosed loans worth $400 million, were adamant that the directors feel the pain. To avoid going to trial, the WorldCom 10 agreed to pay a total of $18 million out of pocket, equal to 20% of their net worth, not counting their homes and pensions. Insurers will pay an additional $36 million. Enron directors recently cut a deal that has them digging...
...when the new HCCR committees were announced, we worried that Harvard might attempt to ram through a poorly considered implementation of April’s HCCR report without due consideration. We encouraged the committees to remain committed to the review’s purpose and not simply serve as rubber stamps. But that never meant shirking their responsibilities to ultimately make decisive decisions. No committee at Harvard will ever please everyone, particularly not a committee whose purview is the nature of a liberal education itself. If the Committee fails to come to clear conclusions and to offer systematic instructions...
...women and female children sported the austere, Khmer Rouge bobbed haircuts. One of the men still wore revolution-style footwear-better known as "Ho Chi Minh sandals"-handmade from rubber car tires. When Lao authorities caught the group-which had now grown to 34 men, women, children and infants-crossing the border from Cambodia, they were clad in clothes fashioned from tree bark...
Rutan personally designed their craft, SpaceShipOne, a vehicle as improbable as it is revolutionary. The size of a small biplane, SpaceShipOne is a shell of woven graphite glued onto a rocket motor that runs on laughing gas and rubber. The nose is punctuated by portholes, like an ocean liner. Inside, the critical instrument is a Ping-Pong ball decorated with a smiley face and attached to the cabin with a piece of string, which goes slack when the pilot reaches the zero-gravity of suborbital space...
...belly of a futuristic cargo plane dubbed White Knight, which takes off effortlessly and then climbs in circles of ever increasing altitude for an hour. Just when you think White Knight has disappeared from sight, SpaceShipOne separates and ignites its engine, which is fueled by nitrous oxide and rubber, and a plume of white smoke shoots straight up into the sky. Unlike the computer-driven shuttle, SpaceShipOne is controlled by an old-fashioned mechanical stick and rudder. That makes the altitude climb hair-raising for the pilot. "It's going faster than a speeding bullet," says Melvill, who piloted...