Word: stakes
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Dates: during 2000-2009
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After weeks of twists and turns in the battle for control of General Motors' European unit Opel, the U.S. car giant finally made up its mind Thursday and decided to sell a majority stake to a bid headed by Canadian car-parts firm Magna, albeit with strings attached. The deal came as something of a surprise; over the past few days there has been feverish speculation in Berlin that GM had decided to hang onto Opel in Germany as well as its Vauxhall brand...
...Still, even the chancellor admitted the "new beginning wouldn't be easy." Under the deal, Magna and Sberbank will own 55% of the "New Opel", GM will keep 35% and the company's workers will take a 10% stake. GM's chief negotiator John Smith, who flew in from Detroit for a Berlin news conference, said Magna had come up with the best offer. "Magna has a great manufacturing culture and it enjoys the support of German labour unions, and the funding is there. It makes sense," said Smith. But he also warned of job-cuts. Magna's bid outlined...
...will rethink its stand in light of the Kraft bid. After all, if Kraft ups its ante and succeeds in acquiring Cadbury, it would create a combined company that would rival Mars in size and reduce Hershey to a distant fourth in the confectionary market with only a 4% stake, estimates Stifel Nicolaus analyst Christopher Growe...
...Slow Money Alliance, set up as a nonprofit, brings the tenets of the Slow Food movement (buying local) to finance - exploring investment vehicles that re-circulate within the local economy, minimize environmental impact, stress diversity over monoculture, and earn decent returns. Tasch wants to give investors a stake in "restorative economy," building the food and ecological infrastructure on a community to community basis. (See the top 10 financial-crisis buzzwords...
Students soon learn that due to severe financial distress, HMC was obliged during the summer to sell a controlling stake in the university to celebrated Swedish home products retailer IKEA. Suddenly, that sleek pastel chair you’re sitting in begins to make a lot more sense. But hey, at least you can finally buy that Harvard Yard (TM) armoire to house your Harvard Yard (TM) chinos.--James M. Wilsterman ’10Editorial chair As winter approaches, Harvard will realize that it has pitted hundreds of its students against each other by limiting who is eligible...