Word: scandalizer
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...With its seamy mix of political power, billions of baht in booty, and high-society scandal, the Hangthong case is just the latest installment of a Tumwattana family saga that is Shakespearean in its tragic body count. Starting in the 1950s as owners of a slaughterhouse, the clan's patriarch, Arkom, and his wife, Suwapee, built a Bangkok-based real estate empire worth an estimated $400 million. But wealth didn't bring security to the family, which numbered 10 children. In 1966, Arkom was shot dead in what was believed to be a business dispute. The case remains unsolved. Thirteen...
...most violent of all 18 police districts in Los Angeles, with 118 murders in its 12 sq. mi. Mirroring the L.A.P.D. as a whole, cops in the 77th had become demoralized and cynical following the 1991 Rodney King beating and the 1999 police-corruption scandal in the Rampart district. Many admit they had adopted a "drive and wave" style of policing, in which they rarely got out of their car unless an actual crime had been committed...
...some far less noble impulses too. On Dec. 27, Tanzi was arrested, and he is confined in a Milan jail while Italian prosecutors, joined by the U.S. Securities and Exchange Commission, probe his role in an alleged $8.8 billion fraud that could implicate Parmalat in Europe's biggest corporate scandal ever, easily on a par with those of Enron and WorldCom in the U.S. Parmalat has filed for bankruptcy, and corporate-turnaround expert Enrico Bondi is trying to salvage what he can of the firm, which has 36,000 employees in 30 countries, including 7,300 in North America. Among...
...scandal has rocked Italy and is prompting calls for more reform in a country famous for family entrepreneurs and infamous for the chaotic structure of their companies. The latter keeps the taxman at bay, but it's one reason Italian companies have had difficulty attracting foreign capital. Parmalat was supposed to be different. Tanzi got his start in business as a 21-year-old, when his father died and he took over the family's small prosciutto-ham factory. On a trip to Sweden, he noticed milk packaged in cartons and brought the concept to Italy. Later he adopted...
Capital Punishment After all the the spilt milk, Italian business may be about to start crying even harder over the Parmalat scandal. Stung by the €7 billion alleged fraud at the dairy firm, Italian banks are looking to tighten restrictions and raise risk premiums on loans to companies. And the domestic corporate-bond market has all but dried...