Word: stakings
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...once burned, twice shy" isn't an old Chinese proverb, it probably should be. As Gao Xiqing, the chief investment officer of China's $200 billion sovereign wealth fund, meets in New York City this week with Morgan Stanley CEO John Mack to discuss increasing the Chinese government's stake in the venerable - and flailing - investment bank, he bears an obvious burden. Last December, the CIC (the China Investment Corp.) invested $5 billion for a 9.9% stake in Morgan Stanley (for which the bank must pay CIC a 9% annual dividend until 2010). On paper, that investment is now down...
...policy initiative aimed at supporting China's leading financial institutions at a time of global turmoil," says Jing Ulrich, chairman of China securities at JPMorgan in Hong Kong. It's another way of saying to CIC's Gao Xiqing, If you come home from New York having increased our stake in Morgan Stanley, it had better be the sweetest deal anyone in Beijing has ever seen...
...Studios, meanwhile, were looking for a way to please their fiscally conservative corporate parents and share some risk. Some financial whizzes matched supply with demand and came up with a new way to bankroll films: institutional investors could take a portfolio approach to film financing and buy a stake in several of a studio's films, like a mutual fund of movies. The goal was to share in the typically 13%-18% annual rate of return that studios enjoy, with hits outweighing duds...
...returned to their public schools, would revitalize extracurriculars with their passion and talent. Quality teachers, as well, might be likelier to seek a job at a public school, where they are sorely needed. Most importantly, it would force parents, especially influential or wealthy parents, to have more of a stake in public education...
...foil before succumbing to nerves and posting a 17th-place finish.“I think I was definitely overwhelmed,” Cross said. “There’s some kind of mental prep that you need, because there’s just so much at stake, you put so much of your life on hold for it. It was hard for me, I completely psyched myself out.”Unlike Mills, however, Cross received the chance to redeem herself in the team competition, and that she did, leading the U.S. team with 31 touches...