Word: splits
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Dates: during 1990-1999
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Harvard's endowment, which is heavily invested in the preferred stock of the Marriott Corporation, could absorb a severe financial loss as a result of a decision last week by a Delaware Chancery Court judge to let the hospitality industry giant split into two companies...
...University had asked William T. Allen, the chancellor of the Delaware's equity court, for a restraining order delaying Marriot's annual meeting on July 23, when the company is likely to approve the split...
Last Thursday, however, Allen denied the motion, effectively letting the split proceed. Attorneys representing Harvard have argued that the plan to divide Marriott in two will hurt the rate of return on the University endowment of more than $5 billion...
...there were a Leaden Ass award, it would have to be split between France and Australia. The French pavilion confirms the ongoing bankruptcy of contemporary art in Paris with a Warhol clone named Jean-Pierre Raynaud. His bright idea was to imprint 15,500 white ceramic tiles with the same photo of a Neolithic human skull and cover the walls of the French pavilion with them. As an exercise in prim, sterile chic, it's unbeatable. Australia is not short of talent, but the political correctness of its official cultural life has sent to Venice the whiny postfeminist images...
Russia and Ukraine have been arguing for more than a year over what to do about the powerful 350-ship Black Sea fleet of the former Soviet navy. Russian President Boris Yeltsin and Ukraine President Leonid Kravchuk reached a solution: they will split the fleet down the middle. The fleet's port in Sevastopol, Ukraine, will be shared as well. Russia also agreed officially to guarantee Ukraine's security, a condition Kravchuk has insisted on before giving up his 1,900-warhead nuclear arsenal...