Word: stronach
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With GM struggling with a serious case of cold feet, it's not too late for Stronach to do a U-turn on Opel without losing face - and at the same time ensure the future prosperity of the empire he has already built...
However, Frank Stronach, Magna's flamboyantly unpredictable founder and chairman, sees the acquisition of Opel as a once-in-a-lifetime opportunity to create a global car empire on which to stamp his imprint. "It's a risky deal for Magna," says auto analyst George Magliano of IHS Global Insight. "But car assembly is something they really want to do." This ambition may be too tall an order for the Austrian-born Stronach, 76, whose entire career has been marked by both spectacular successes and failures. Most recently, his dream of creating a horse-racing and gaming empire collapsed when...
...Austrian-Canadian Magna group and Italy's Fiat SpA remain the strongest bidders for Opel. Under pressure from trade unions and key leaders of German states where Opel operates, Berlin has appeared thus far to favor the plan presented by the Austrian billionaire Frank Stronach, whose Magna group is a major worldwide supplier of components to GM. Stronach has teamed up with Russian carmaker OAO GAZ Group and the state-controlled Russian financial group OAO Sberbank. Russian Prime Minister Vladimir Putin has been lobbying Merkel to support the Magna bid. Stronach told reporters on the sidelines of Wednesday's meeting...
...Rieger, a German attending Aoyama Gakuin University in central Tokyo, says that after one semester, he worries that he's falling behind his peers at his home university near Luxembourg. "I'm writing about topics and issues that will help no way in my future," says Rieger, 26. Bruce Stronach, president of Yokohama City University and the first Westerner to head a Japanese public university, says Japan is "not on the radar screen" of overseas students...
...Japan is a country that clings to tradition and carefully guards its culture. Teaching in English and courting outsiders remains anathema to many faculty members and administrators. "The structure of universities and research institutes is so intransigent that it's hard to implement solutions," says Stronach, the Yokohama City University president. "These reforms are crucial right now, and yet there's an awful lot of dithering going...