Word: schroders
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...citizens dispirited by the petty obsessions of Washington can comfort themselves by looking to Germany, now in the midst of a brawling election campaign. At the moment, one of the central issues in the race for Chancellor is whether incumbent GERHARD SCHRODER comes by his enviable head of auburn hair naturally. After a German news agency suggested that Schroder, 58, covers his gray, he sent his lawyers to court to stop the agency from repeating the claim. He also sent his barber, who vouched for his hair's authenticity. The court will rule in May, but Schroder's opponents...
...takeover bid. For these reasons VW's share price languishes at 1997 levels. "The feeling is that the management in place has tended to give low priorities to investors, having several other constituencies that come higher up the attention screen," says John Lawson, who follows the auto business at Schroder Salomon Smith Barney in London. Adds Ekkehard Wenger, an economist at the University of Würzburg and a vocal corporate gadfly in Germany: "Volkswagen doesn't exist to serve shareholder value, it exists as part of the patronage structure of Lower Saxony...
...year ago, Schröder looked unbeatable. His government had cut taxes without chopping social programs, proposed reforms for state pensions and come up with a plan to balance the budget. Still, the global economic slump hit Germany, with unemployment inching up to the important benchmark of 4 million. Schroder made an election pledge four years ago to get jobless numbers down to 3.5 million by the time of the election on Sept. 22. "The economy is the big issue," says Peter Lösche, a professor of political science at the University of Göttingen. "It looks...
...note that the firm remains a minority shareholder of Sabena and could be affected if the Belgian airline's recently announced restructuring plans are not successful. "Corti has certainly done well in managing to get out of obligations in France and Belgium," said Andrew Light, an airline analyst at Schroder Salomon Smith Barney in London. "He's bought himself some time...
...second electricity company," says Andrea Gilardoni, professor of utilities management at Bocconi University in Milan. The sight of Mediobanca on the ropes has some investors wondering if the bank itself might soon become a takeover target, or be forced to merge with an ally. Marco Tacconis, an analyst for Schroder Salomon Smith Barney in London, says there's little chance that Mediobanca will be around - at least in its current form - a year from now. Among the prizes for a suitor: Mediobanca's key stake in the insurer Generali. So is this the great opening up of the Italian market...