Word: settlements
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...when J.P. Morgan Chase agreed last week to pay $2 billion to settle investor claims, joining Citigroup and other Wall Street firms that had underwritten a WorldCom bond issue only about a year before the telecom went bust. With some $6 billion now pledged--the largest securities class-action settlement in U.S. history--bondholders may get back up to half the value of their lost investments. Meanwhile, investment banks have new motivation to scrutinize a company's books more closely before endorsing a bond issue for investors...
...encouraging Sunni leaders and the insurgents to talk with the government. A tougher job may be to convince the leaders of political parties about to assume power--many of whom were brutalized by Baathists now coordinating the insurgency--that it's in their interests to reach a peaceful settlement with their former tormentors. In the U.S. command, there is increasing skepticism that the insurgency can be defeated through military might alone. Says a senior U.S. officer: "The Iraqis are the solution to the insurgency, and they are the solution to our departure...
...interest in continuing dialogue with the insurgents. "The voters gave us a mandate to attack these insurgents, not negotiate with them," says Humam Bakr Hammoudi, a political strategist for the dominant SCIRI party. U.S. negotiators say they believe the new government will eventually realize that only a political settlement will subdue the insurgency--which may soon direct its wrath at the new Iraqi rulers if it believes its interests are being ignored. While some in the Bush Administration might find the idea of backing an accord with archenemy Baathists distasteful, the Western observer says, "I think...
...Harvard had been paying the city an annual PILOT of $1.7 million in addition to the $4.3 million it already pays on non-exempt land. Under the new agreement reached Monday, Harvard will pay $2.4 million in 2006 with provisions for periodic increases over the 50-year settlement. The city has estimated that the deal could be worth over $255 million over the five decade period...
DEFENSE'S STRATEGY Jackson's lawyers, left, will grill the boy's mom, whose first call after the alleged abuse was to a lawyer who had wrung a big settlement from Jacko over similar charges...