Word: swap
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...ever took place. They suspect Moscow's insistence that Russian forces were no longer responsible for Babitsky's well-being may be designed to absolve the authorities of any crime that may have been committed against the reporter. Chechen authorities have denied ever having been involved in any such swap, and a video of the alleged handover released by Russian authorities raised more questions than it answered. It's far from clear that the gruff men in black masks seen on the tape marching Babitsky away are in fact Chechens at all. And when the liberal Yabloko faction tried Wednesday...
...quietly but vigorously pushing a proposal that would pour millions of barrels of oil from America's Strategic Petroleum Reserve onto the market in coming weeks. The proposal, which has circulated among a few top Administration officials and could soon be approved by President Clinton, involves offering a "swap" of crude oil from the 580 million-bbl. SPR to private oil companies. They would bid to take the oil now, then make repayment in kind, plus a premium, in 12 months or less. In other words, for every barrel an Exxon-Mobil took out, it would return that barrel...
...clear how many oil companies will participate in a swap that would, in effect, sell the commodity short, the bet being that the price of crude will be lower when the time comes to return the borrowed oil several months down the road. That deal could prove an attractive gamble, however, as oil prices often slide with the advent of warmer weather. Participants can also cover the risk that prices might unpredictably rise by hedging in futures markets...
...success of this one is far from guaranteed." The two sides also had to do some bargaining on valuation. In the end, the deal was this: Time Warner shareholders will be given 1.5 shares in the new entity, while AOL's will get a one-for-one swap. That gives AOL stockholders 55 percent of the new company, which will be headed up by Time Warner CEO Gerald Levin, and gives Time Warner equity a shot in the arm. After all, before the merger AOL's market capitalization had been $163.4 billion, nearly double Time Warner's $83.3 billion. Levin...
...examination of e-commerce would be complete without a look at eBay, the online-auction business that is part swap meet, part town square. Senior writer Adam Cohen not only toured the company in San Jose, Calif., but also flew to Paris (ah, the sacrifices journalists make!) to have coffee with the company's elusive founder, Pierre Omidyar...