Word: summered
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Hands, now living as a tax exile on the island of Guernsey in the English Channel, needs to inject about $200 million into the business by the summer; otherwise, Citigroup gets the keys. His allies say he can raise the money from third-party investors, but that is only enough to keep EMI out of the bank's hands for 12 more months. What Hands really needs is a deal with Citigroup to slash EMI's debts. But like any good band in crisis, Hands and his onetime partners at Citigroup have fallen out. (See the top 10 albums...
...Last summer, Hands proposed a deal in which he would inject $1.56 billion into EMI if Citigroup wrote off about the same amount in debt. Citigroup said no and offered instead to write off $1.56 billion in debt in return for controlling ownership of the company. Hands refused and then sued Citigroup, claiming the bank had persuaded him to pay too much for EMI in the first place. Now the two sides aren't speaking. Hands says Citigroup is playing "hardball for no good reason," while the bank feels that Hands is being unrealistic in his demand to remain...
This past summer, we celebrated the 40th anniversary of the Apollo 11 moon landing. The first lunar landing was an extraordinarily complex, highly technical feat of human engineering and bravery, and while we remember it proudly, it is more than a little strange to celebrate a feat that we could do 40 years ago but cannot do today...
...eternal credit, when a flock of 4½-year-olds descended in the middle of my afternoon nap, she rose to the occasion, conjuring a cake out of her pantry and a celebration out of thin summer air. It's true that for years afterward, she wouldn't let me forget it, that party I'd somehow arranged in the sandbox without permission. Eventually I reminded her of the important part, that when you are 3, going for the entire year without your friends hoisting you up to 4 seems cosmically wrong...
...Black Saturday' infernos swallowed their property in Flowerdale, Victoria. Minten went ahead to work in the morning, leaving Collins at home with their toddler. The sky was a hazy amber as the fire raged in nearby towns, but no one thought the flames would reach Flowerdale. With typical summer temperatures of 115 degrees, Collins did what she usually did on hot days: crank up air-conditioning full-blast, and draw the blinds to keep...