Word: spree
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Faber is not alone. Airbus, long regarded as a symbol of European independence from America's dominance of aerospace, has embarked on a $1 billion-a-year spending spree from California to Connecticut, signing contracts with dozens of parts suppliers. One reason is practical: the A380 will be the largest passenger airplane ever built, seating at least 555 on two decks, and its complex design requires Airbus to call on the most talented suppliers available, whether they're in Munich or Memphis. Another reason, though, is political: Airbus is spreading supply contracts to build a U.S. constituency for its aircraft...
...roaring '90s, many people lost sight of timeless investing principles; some are still stubbornly clinging to their tech stocks, hoping for a turnaround. They need to adjust. Many stocks are still expensive relative to their expected earnings, and some pros still foresee a cathartic selling spree that will cause the last bulls to buckle. For anyone overloaded in stocks, it's not too late to sell. But don't overdo it. Even Warren Buffett, a technophobe but also a bargain hunter, just found value in at least one battered telecom: Level 3 Communications. Perhaps the biggest risk now, warns Scott...
Person of the Week CANCELLED He took Vivendi Universal on a corporate buying spree, trying to transform a staid, provincial French utilities firm into a multinational media giant. But Jean-Marie Messier overreached and Vivendi's stock price collapsed, leading to his dismissal as company chairman last week...
...husband recently met Tomy Winata, one of the country's wealthiest ethnic-Chinese businessmen and a man known for his close ties to the gambling underworld. Taufik and some family members (but not Megawati) were vacationing on an island owned by Winata. Taufik also famously conducted a prolonged shopping spree in New York City with Jacob Nursalim, the nephew of Syamsul Nursalim, one of Indonesia's largest debtors. Indeed, as TIME wrapped up an interview with Taufik at his home on a recent Saturday morning, Jacob could be seen waiting in the wings, tying the shoes of Taufik's three...
...known throughout France as J2M is a former water-company executive who became a French business celebrity by turning the sleepy water utility Compagnie Generale des Eaux into a $51 billion global media giant, Vivendi Universal. Messier did it with a six-year buying spree that brought Universal Studios, USA networks and a number of European media and telecom companies into the fold. His promise was to create a company that "will be the world's preferred creator and provider of personalized information, entertainment and services to consumers anywhere, at any time and across all distribution platforms and devices...