Word: staking
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...well Philadelphia's children fare in these real-life laboratories will ultimately touch public schools in every corner of the U.S., offering examples to emulate or mistakes to avoid. As the experiment begins, TIME is following three individuals with a direct stake in the outcome: fifth-grade teacher Blakney, elementary-school principal Anita Duke andseventh-grade student Shaliah Denmark. All three will experience what happens when private hands buy the books, train the teachers and set the priorities. Each has her own degree of optimism about the promised reforms. TIME will return to them later in the school year...
...Swissair refuses to participate in recapitalization plan and backs away from commitment to take a majority stake in Sabena. Belgian government files suit...
...signed in May 1995, after Sabena's attempts to ally itself first with SAS, British Airways, KLM and finally Air France collapsed. The Belgians were delighted. "Swissair was seen as a flying bank," says Gérard Gobert, a commission member. Under the agreement, Swissair took a 49.5% stake in the Belgian carrier with an option to increase that later. At the time, Swissair was embarking on an aggressive expansion, later dubbed its hunter strategy, which involved making alliances with and taking equity stakes in other small airlines in a bid to become one of the big players in Europe...
...ller's proposed cutbacks, unions staged work stoppages and at one point blocked a Swissair plane on the runway in Brussels. Swissair abandoned its hunter strategy and kicked out its CEO in early 2001 after reporting a $1.9 billion annual loss. It reneged on agreements to raise its stake in Sabena to 85% and inject more funds. The Belgians sued, and a compromise was finally agreed. Then came the terrorist attacks of Sept. 11. Air traffic worldwide nose-dived. Within a month, Swissair grounded its fleet and Sabena sought protection from creditors. On Nov. 7, the president of the Brussels...
...Secret deal at Hotel Astoria between Belgian Prime Minister and Swissair CEO. Swiss to inject €258 million but not raise stake in Sabena. Suit is dropped...