Word: solding
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...years later, the company accepted a $70-a-share bid from Eli Lilly & Co. "I felt vindicated," boasted Icahn at the time. Then there was National Energy Group, where he turned a $300 million investment in the company in 2003 into a $1.5 billion payoff when it was sold in 2006, according to Icahn. (See the top 10 bankruptcies...
...Icahn, this isn't his first foray into the casino sector. Between 2000 and 2006, he purchased four casinos - the Stratosphere, Arizona's Charlie's Boulder, Arizona Charlie's Decatur and Aquarius Casinos - for $300 million, and sold them for $1.2 billion in 2008 before the recession unleashed the worst of its fury. (The original price was $1.3 billion, but was adjusted down slightly at closing time.) "That's a pretty good reward for waiting, right?" says Icahn. "Hopefully history will repeat itself...
...epic traffic jams in and around Shanghai, jabbering on his cell phone and muttering under his breath, Yang Jinyu seems an unlikely real estate mogul. But when the government asked him to move out of his central Shanghai home so that the land it was on could be sold for redevelopment, he took the compensation payment and bought an apartment on Shanghai's outskirts. Eight years later, after cleverly parlaying that first asset, the cabbie owns three apartments in the city and has his eyes on something bigger: a lovely five-bedroom, riverfront suburban house, owned but never occupied...
...China's Megatrends is the latest addition to John Naisbitt's Megatrends franchise, a series of middlebrow works that offer extremely generalized social and economic predictions. The first Megatrends (1982) was a publishing phenomenon that sold over 9 million copies and spent two years on the New York Times best-seller list. It was followed by Megatrends 2000 (1990), Megatrends for Women (1992) and Megatrends Asia (1996). But although almost 30 researchers worked on China's Megatrends, it has all the hallmarks of a glib, bolt-on extension to the juggernaut. It is breathtaking in its simplistic, groveling...
...finely tuned assembly line is the brainchild of Demand's co-founder Richard Rosenblatt. Best known as the CEO of Intermix Media, owner of MySpace, when the company was sold for $580 million to News Corp. in 2005, Rosenblatt says he learned from his experience with social networks that there were plenty of people producing reams of data online. "But only 1% of that was relevant to more than just people's friends," he says. "What if we could find a way to find those content creators, tell them what to write and create a broader audience...