Word: staking
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...hard to knock Middelhoff for his record at Bertelsmann. He convinced the company to buy a stake in the Internet service provider American Online when it was still a fledgling company. Later, he arranged to sell the stake back to AOL for a $7 billion profit. The deal helped land Middelhoff the CEO job in 1998. He profitably sold off a stake in the German pay-TV service Premiere World long before the company, owned by media tycoon Leo Kirch, went bust. Middelhoff also persuaded Bertlesmann to buy the giant U.S. publisher Random House for $1.2 billion. His contract, reportedly...
Some of Middelhoff's recent deals have been less successful. Bertelsmann invested heavily in e-commerce, including a stake in the booksellers Barnes & Noble.com in the U.S. and bol.com in Europe. He also put $30 million into Napster, which he hoped to turn from an illegal song-sharing website to a legitimate portal for selling music. The site is currently being retooled for its new mission. Last year, Bertelsmann admitted having ?890 million in Internet startup losses. Another questionable buy was the $550 million or so Middlehoff paid for the U.S. magazines Fast Company and Inc. just as the Internet...
...There is also a credibility issue at stake. Domestically and internationally, the Bush administration has unambiguously signaled its determination to rid the world of Saddam Hussein. And the expectations thus created increase the pressure to deliver. Moreover, the deeper objective of preemptively going to war for no other reason than a rogue regime's pursuit of weapons of mass destruction is to send a message to all such regimes - that the U.S. will not tolerate challenges in the form of terrorism or WMD. But whether or not America is ready to assume the risks to fight a preemptive war against...
...Already, Chiva-Som's splash on the international spa scene is sending ripples of change through the sleepy getaway. Hyatt Regency recently became the newest resort to stake a claim upon Hua Hin's regal beach. Up and down the sand, hotels are being re-branded as fashionable spas. But there are no beach parties, no raves. And don't expect any soon, since the King has taken up permanent residence in his town palace Klai Kangwon. The name means "far from worries." That has long been Hua Hin's mantra, more than ever now that royalty is back...
...Hong Kong Disneyland's customers in its first few years. Hong Kong has a big investment to recoup: the city agreed to pay $2.9 billion toward the park's construction. Disney chipped in a mere $314 million, for which the company will get a hefty 43% ownership stake along with management fees...