Word: six-year
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Since Jan. 1, Tyco shares have fallen some 80%, hitting a six-year low of $10.10 on Friday. Late last week the debt-rating agencies S&P and Moody's downgraded Tyco's debt, fueling worries that the company, which is trying to trim its $27 billion in debt--$12.8 billion of it coming due in the next 18 months--could be caught in a cash squeeze. Tyco announced last week that it may have to delay the IPO of its CIT financial division--which was expected to raise $5 billion in cash--because of concerns...
President Neil L. Rudenstine announces that he will leave Harvard at the end of June 2001. His resignation comes at the conclusion of a successful six-year capital campaign, the chief accomplishment of his tenure...
...Overseers, today a body of 30 elected for six-year terms in a vote open to all Harvard alums, technically have power over the Corporation through their mandate to consent to the selection of new Corporation members and presidents...
...Bahadur Deuba ruled out any talks with Maoist rebels unless they surrender their weapons. Deuba was responding to reports, later denied by a rebel spokesman, that the guerrillas had declared a one-month unilateral cease-fire. The statements came after some of the heaviest fighting in the country's six-year conflict, with estimates that between 250 and 600 people had died in the Western district of Rolpa...
...Baker spent 19 years in Hong Kong championing the rights of battered women and underprivileged mainlanders as well as trying to secure refugee status for Vietnamese boat people. HONORED. PAU GASOL, 21, as the National Basketball Association's Rookie of the Year; in Memphis, Tennessee. A native of Spain, the 2.13-m starting forward for the Memphis Grizzlies is the first European to win the award. SENTENCED. A. ALFRED TAUBMAN, 78, colorful principal owner and former chairman of Sotheby's, to one year and a day in prison and fined $7.5 million, for heading a six-year price-fixing scheme...