Word: stakes
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Dates: during 1990-1999
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These clever young men (they all appear to be that) are not distressed at the loss of virtue or values: they appear to bemoan the loss of power, the power to determine who will be sent to the stake and who will not. The well-modulated hysteria suggests at least two earlier occasions when an elite, in the name of the presevation of virtue and with an impeccable, unassailable logic, did in those whom it could neither control nor convert: the first of these took place in the ecclesiastical dungeons of pre-modern Spain, and the other on the gibbits...
Madrid was the easy part. Delegates had only to stake out a position, not cede an inch of ground. The course toward peace is pockmarked with sandpits, potholes and booby traps. If you plan to stay tuned, be ready for a long, long siege, marked by proclamations of self-sacrifice and ritualistic outbursts of indignation. And be wary of the press leaks of success/failure that are sure to follow. Any real bargaining will be behind closed doors, and the only reliable evidence of progress will be public statements of mutual commitment...
...initiated the joint-venture talks last year, plans to expand its cable-TV operations in Japan by drawing heavily on Time Warner's expertise. As the world's largest trading company, C. Itoh (sales: $151 billion) already manages cable firms, runs sports and music channels and owns a 40% stake in two communications satellites. But that still leaves it plenty of room to grow in Japan, where only 18% of the households are wired for cable -- most of them in rural areas with poor regular-TV reception. "Cable is going to be a big business here, but it will develop...
...deal that has been long anticipated, Time Warner Inc. last week wrapped up a partnership with electronics maker Toshiba and trading company C. Itoh. For $1 billion, the Manhattan-based media giant, parent company of TIME, agreed to sell the two firms a combined 12 1/2% stake in its movie, cable TV and Home Box Office operations...
Having concluded the Toshiba-C. Itoh deal, Time Warner is now expected to look in the other direction -- Europe -- to form new strategic alliances. "And that," vows Ross, "is exactly what's going to happen." The company could sell an additional 7 1/2% stake in Time Warner Entertainment and still retain an 80% interest -- the minimum level of ownership that would permit it to deduct any losses from the partnership from Time Warner's own taxes...