Word: stakes
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Dates: during 2000-2009
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...describe the WOW awards as a costume competition isn't quite capturing it, but that's what it is in essence, with nearly $70,000 in prize money at stake. For this year's event, which runs Sept. 24 to Oct. 4, judges have chosen 165 designs from 10 countries, to be featured in 10 two-hour shows, each of which is a jaw-dropping theatrical performance. Dance, music, lighting, elaborate sets and of course the ensembles themselves attract a total audience of around 35,000. "WOW," says founder Suzie Moncrieff, "is a glorious rebellion against the mundane." (See pictures...
...other big problem is money. Areva needs about $14 billion to finance its business for the next several years--and $2.8 billion more to buy Siemens' joint-venture stake. One plan calls for the state to sell 15% of Areva to new investors. Areva also plans to sell off its shares of a number of smaller French companies as well as T&D, an energy-transmission affiliate that it bought for close to $1 billion in 2004, which is now valued at nearly $5 billion and accounts for 20% of the company's profits...
...lower house of Japan's parliament on Aug. 30, voters swept out of power the Liberal Democratic Party (LDP), which had ruled Japan for all but 11 months of the past half-century. The opposition Democratic Party of Japan (DPJ) won 308 of the 480 Diet seats at stake...
...should he. Bloom is a pioneer when it comes to worker buyouts, in which the employees of a faltering firm buy an ownership stake to prevent plant closings or job losses. The idea of an economy of worker cooperatives may seem utopian, and the notion of using the tools of modern finance to do so absurd. But Bloom and his mentor at Lazard, Eugene Keilin, helped prove it possible—and did so with no less than the largest airline in the nation: United...
...Working as advisors to the pilots’ union, Keilin and Bloom orchestrated a buyout in which United employees, through their unions, bought a 55 percent stake in the company. The results were staggeringly positive. Worker grievances plummeted while the firm’s productivity and profit margins soared. Previous skeptics appeared to be swayed. BusinessWeek devoted a cover story to the success of worker ownership, including praise from sources as unlikely as a Merrill Lynch analyst and an executive at a rival airline...