Word: signallers
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...ways, though, James has changed: he's gone from producing rap-metal records outside the family business to this new job, so crucial to its success. It's unlikely anyone else with his track record could have snagged the top post at a $2.5 billion company that beams its signal in eight languages to 53 countries ("I don't think TV gets harder than STAR," says chief programmer Steve Askew). Yet Rupert Murdoch chose his youngest son as his lieutenant in Asia, just as giants such as AOL Time Warner, Sony and Disney came rushing in. This office?sensible, austere...
...Murdoch Sr. had bought STAR from Hong Kong's Richard Li in 1995 for $950 million. A perpetual money loser, it initially looked like News Corp.'s overpriced albatross. STAR has no shortage of eyeballs?it beams its satellite signal to 300 million people?yet it has virtually no control over subscribers on the ground. Instead, it is heavily dependent on advertising revenue. But STAR was a first mover in these vast new markets. And it was central to Murdoch's vision of constructing a global satellite network?a dream foiled recently by his failed bid for DirecTV...
...back, of course, was the 25 points he didn't cut, the slowing down of the rate-cut regime to 25 points a pop from 50, which is a signal that Greenspan suspects the recession may have at least bottomed out, the icy economic weather won't last all year, and the Fed's work as a preventative medicine man may be done...
...What a stimulus package will do, though, is make it look like Washington is trying to help. That's why Bush was willing in Orlando Tuesday to signal a GOP retreat on a retroactive (to 1986) repeal of the corporate alternative minimum tax. It's why Senate Democrats - though they couldn't actually pass a bill - finally let go of their weeks-long fight to load up the package with antiterrorism spending and farm subsidies. After spending the better part of three months jostling for ideological goodies to present to constituents ahead of the 2002 elections, Congress may be finally...
...Reid thinks he's struck the fatal blow. "This report could very well signal the beginning of the end of the Yucca Mountain project," he predicts. He and Berkely had ordered up the GAO probe after an anonymous whistleblower sent a letter to the Energy Department's inspector general charging waste, fraud and abuse in the Yucca project. The GAO findings also come on the heels of revelations that a Chicago law firm the Energy Department hired to help guide the project through the licensing process had been lobbying Congress on behalf of the nuclear industry. The firm denied...