Word: stockings
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...critics said that any guy named Ford, especially a granola-crunching one, was a bad choice for the job. A lot of people still think so. "Any insider is the wrong person to fix a Ford or a GM," argues a hedge-fund executive who is shorting Ford stock. "Insiders have too much of a connection to the status quo and the legacy of the company to make the tough decisions that are needed." Executives humored him but cringed when he announced he wanted to make his company environmentally friendly, long before Toyota's hybrid Prius became a household name...
...Everything: From Zero to 10 Billion Yen My Way?. He appeared to be living proof of his boast. Over the past five fiscal years, Livedoor has acquired 27 companies, increasing revenue 22-fold to nearly $800 million. He has also been an aggressive financial democrat, constantly splitting his stock so that younger and less well-off Japanese can afford to become shareholders. If you had bought a single share of Livedoor in early 2003, it would have multipied into 10,000 shares today. The stock became hugely popular-even schoolchildren became stockholders. And since Horie retained a 17% stake...
...that scandal-and a potential five-year prison term-has tainted his persona, Horie is discovering that his fans are abandoning him. Since the raid on Livedoor on Monday, the company?s stock has dropped 52%. The press, owned by barons whom he scorned, has continued to pile on its anti-Livedoor stories. Horie has not stopped giving conferences but he looks tired and stressed while maintaining that he is cooperating with the investigation. He declares that he will be vindicated. He says that any suggestion that he will resign is ?irresponsible.? In the battle of the Hills Tribe...
...volume of orders that prompted the stock exchange?s early closing, Takuji Aida, Chief Economist at Barclays Capital Japan, blames undisciplined individual investors-a category that Livedoor?s CEO Takafumi Horie helped cultivate. As in the United States seven years ago, the rise of Japan?s Internet sector has stoked a surge in online brokerage companies and individual stock investing. According to some estimates, individual investors now account for 50% of the Japanese market?s total trading volume. ?Many Japanese households have started to join in the stock market, and a lot of money went into technology stock shares,? says...
...once again and derail Japan?s fitful recovery. Morgan of HSBC says there is no sign of that so far, ?but if Livedoor had that brilliant idea, it?s possible that other companies might have had similar thoughts.? For now, however, most analysts TIME contacted contend that Japan?s stock market, its economy, and the financial reporting controls are fundamentally strong. In fact, Peter Tasker, an economist at Dresdner Kleinwort Wasserstein in Tokyo, maintains that the ?Livedoor Shock? could be seen as a long-overdue correction to the speculative froth that powered the Japanese stock market to a 40% increase...