Word: solding
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...first bit of unpleasantness for O'Leary. For most of the 1990s, he was the president of educational-software company Softkey, which he co-founded with fellow Canadian entrepreneur Michael Perik. O'Leary and Perik sold the firm, which they renamed the Learning Company, to Mattel in 1999 for $3.6 billion. But almost immediately the deal turned sour. The Learning Company lost $200 million in the second half of 1999 alone. O'Leary and Perik, who joined Mattel after the merger, left the toy company six months later in a management shake-up. In 2001, Mattel disposed of the Learning...
...family has already been selling off stakes in some of its other businesses. It divested its Conwood tobacco company for $3.5 billion, sold a 60% stake in its Marmon Group industrial conglomerate to Warren Buffett's Berkshire Hathaway for $4.5 billion and even sold a 13.6% stake in Hyatt to Goldman Sachs and Madrone Capital Partners for $1 billion...
...others over a House e-mail list. (The transaction was later declared successful.) Billy P. Hennrikus ’11, an Adams House resident, recalled his disappointment at finding both C’est Bon and Doma completely bereft of “cheap beer” sold in large quantities on his first weekend at Harvard. He and his friends eventually went to Louie’s Superette to procure their alcohol, though the store did not carry “30s.” “It was kind of a bummer,” Hennrikus said...
...Their knowledge of the drinks business, combined with a passion for distillation, helped them spot a niche in the U.K. market for microdistilleries producing small-batch artisanal spirits. "We wanted to bring back the art of handcrafted spiritmaking," says Galsworthy. "So we developed a business plan, quit our jobs, sold our houses and went on the hunt for the first distiller's license granted in London in a generation." (See 10 things to do in London...
...newest tactics—to securitize not mortgages, but bought-out life insurance policies. Wall Street firms buy policies from holders, continuing to pay monthly premiums until the original policyholder dies and the firm collects the life insurance money. The way in which these policies are bundled and sold as derivatives is suspiciously reminiscent of the way mortgage-backed securities were sold to investors. Upping the ante even more is a whole new set of ethical implications that comes with buying and selling life insurance policies on a wide market...