Word: solding
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Sputnik burned up in the atmosphere, Berlin is now one city, but 25 years later, the Soviet-designed Tetris remains one of the most popular and ubiquitous video games ever created. It has sold over 125 million copies, been released for nearly every video-game platform of the past two decades and even been played on the side of a skyscraper. Yet creator Alexey Pajitnov almost never saw a ruble for his creation...
...Hummer, which was based on the humvee vehicle produced for the U.S. military by AM General, was first sold as a civilian vehicle in 1992. GM bought the line in 1999 and later introduced the smaller H2 and H3 models. After the SUVs became a rolling symbol of hip-hop bling and celebrity excess, Hummer in 2006 registered peak sales of 71,524 for all models. But with higher gas prices and the onset of recession, sales plunged...
...China, Hummers are rare among the compact and midsize vehicles that jam city streets. Last year, just over 500 were sold on the mainland. As in the U.S., in China large SUVs have a certain cache, but with high taxes on imports, there is little demand. "To drive a Hummer, for rich people it fulfills a certain dream," says Yale Zhang, a Shanghai-based analyst with CSM Worldwide, an auto-industry consulting firm. "In China, it's a niche market for sure. It's too big; it consumes too much gasoline. The price is very high, and very few people...
...profit soared 10% to $11.9 billion. In the same period, Bank of America, which at the time owned some 19% of the Chinese lender, earned just $4 billion, down 73% from 2007. That's all you need to know to understand why Bank of America in May sold a 5.8% stake in China Construction Bank for $7.3 billion. Bank of America has been so badly hurt by the U.S. financial crisis that it needs to raise billions of dollars to recapitalize. Meanwhile, Chinese banks are making money hand over fist as China's economy continues to expand. (Read "Bank...
When the Class of 2009 arrived on campus, Lehman Brothers and Merrill Lynch were still solvent.But between freshmen move-in and the Office of Career Services Career Forum at the end of September of their senior year, Merrill Lynch was sold to Bank of America and Lehman Brothers collapsed.And as might be expected in a time of economic turmoil, fewer seniors—usually looking for their first full-time jobs—were able to find work this year than in the recent past.In this year’s Crimson survey of over 500 seniors, 59 percent of those...