Word: shells
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...many that promise average investors entry into the rarefied world of private banking. Set yourself up in a Caribbean or Alpine tax haven, and you are in league with the superrich--with Marc Rich!--who cloak their identities and shield their assets from prying governments. With your shell company as host of a nameless Visa or Amex card, you are trading stocks, purchasing cars, paying bills and getting cash from ATMS--and leaving no trail. You are thumbing your nose at grasping creditors, ex-spouses, plaintiff's lawyers and tax collectors. And these days, you are screwed...
...come down like a ton of coconuts on a few high-profile miscreants to send a message. The Caymans and other countries recently signed information-exchange agreements with the U.S. And the Patriot Act that Congress passed after Sept. 11 requires U.S. banks to sever ties with cash-laundering "shell" banks in foreign lands...
Kirch's downfall was largely the result of a calamitous investment in pay television, betting that German consumers would shell out to have a choice of first-run movies and prime-time soccer available through a digital set-top service called Premiere. But the profusion of private and public broadcasting available in Germany made the service a hard sell. Kirch managed to sign up 2.4 million subscribers; the breakeven point was 4 million. The company was losing more than $2 million a day, and he borrowed heavily to keep it running. Kirch also offered investors a "put option" - a promise...
Boyle started the outburst with a goal 27 seconds into the second period, giving Princeton a 2-0 lead. Ten minutes later, the Tigers had piled seven more goals on the shell-shocked Crimson squad. Boyle would score his fourth goal at the 1:47 mark, completing a dominant offensive period in which 15 of Princeton’s 16 shots were...
...privatization of many government functions. Both directly and indirectly, living-wage laws can drive up government spending. Suffolk legislator Allan Binder, a leading critic of the county's minimum wage for contractors and firms that receive county funds, cites a study that found the county may have to shell out an extra $13.5 million a year for increased wages. "We have no idea of its impact," says Binder. "We're going into untried territory...