Word: staking
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...political friends and foes who'd already begun jostling for position to define, direct and take over the Paris of the future seem unified in excitement before the formidable project. They'll need to retain that team spirit for the long haul. At stake is the heady objective of turning Paris into a spectacular, environmentally friendly, sustainable city that then merges with its suburbs and beyond to transform the entire region into a giant, integrated economic engine. (See pictures of the French celebrating Bastille...
Next, look at GM's offer. The unsecured bondholders are owed $27 billion by GM, and they are being asked to trade that IOU for a 10% equity stake. The UAW's VEBA trust, on the other hand, is trading in a $10.2 billion IOU and getting a 39% equity stake. If these were poker chips, you could say the croupier has arbitrarily decided to value bondholders' chips at 37 cents apiece and the UAW's VEBA chips at $3.90 each...
...same logic to the money owed by Chrysler to the UAW's VEBA - so its chips should be marked down as well. (In fact, by law the VEBA's IOU is junior to the bondholders' IOU.) Thus, the VEBA's IOU should not translate into a 39% equity stake but a small sliver of that. (Read about Detroit's attempts to renew itself...
Taiwan's third-largest telecoms service provider, Far EasTone Telecommunications Co. announced Wednesday that it plans to sell a 12% stake to China Mobile Ltd. for $528 million, - the largest cross-strait business deal in over 60 years. The two companies also announced plans to partner in China and offer roaming services and technology upgrades for their networks, which will strengthen FarEasTone's position in Taiwan. This would be the first direct investment by a Chinese state-owned company in Taiwan in six decades. "It is especially significant," says Dr. Edward Chow, a professor at National Chengchi University...
...moves back into power in three years. But the Obama Administration should do as much as it can to help keep that from happening - starting with epidemiological aid to Calderon's government. From trade to immigration to the drug war, the U.S. has much more at stake in Mexico than it has in Poland. All the more reason for Washington to make sure swine flu doesn't become Calderon's earthquake...