Word: swaps
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...evangelical Christian movement that is rapidly becoming both complement and antidote to the all-male Promise Keepers. And despite the problems, the tenor of the weekend becomes resolutely cheerful. "Joy" is invoked almost as frequently as God. Members of Women of Faith don't trade promises or admonishments; they swap stories and compliments. Since 1996, when the for-profit enterprise was founded, predominantly white women of all Christian denominations have been drawn to revivals staged in churches and cozy sports arenas across the nation. For a $52 advance-registration fee, women can take part in a spiritual slumber party punctuated...
...fixed cosmetics company Revlon in the early 1990s, and most recently was doing the same for outdoor-equipment company Coleman--both efforts on behalf of controlling shareholder Ronald Perelman. Levin's selection is no accident. On March 2, Perelman sold Coleman to Sunbeam in a stock swap, and he is now Sunbeam's second-largest investor, with a 13% stake. The largest is activist money manager Michael Price, who controls 17%. As a measure of how quickly Dunlap's career unraveled, Price only two weeks earlier had publicly, emphatically supported Dunlap. But he became as willing as anyone...
...this case, SK Securities entered into a currency-swap deal with Morgan in early 1997 whereby SK Securities in effect borrowed U.S. dollars and invested them in Thai baht. But within a year the baht plunged in value, from 25 to 48 to the dollar, and the Korean firms couldn't cough up the dollars to repay Morgan. They subsequently sued Morgan in New York and in South Korea, claiming they weren't properly advised of the risks associated with derivatives...
...world." In some cases that is already happening. Last summer Mary Furlong, the founder of the nonprofit Senior Net educational centers, created the definitely-for-profit Third Age and thinks of it as "my grandmother's front porch," a place where people gather to hear news and swap information. With a database of more than 5,000 pages of free and discounted products and services and sponsors like Hallmark and Toys "R" Us, it's more like the mall of the future...
...Communications Wait a minute -- didn't the feds break up Ma Bell already? In the latest, and biggest yet, deal to shake up the unsettled telecom industry, highly acquisitive SBC Communications announced it would buy Ameritech in a $62 billion stock swap. The combined entity would comprise three of the original seven Baby Bells with more than $40 billion in annual revenues, controlling some 57 million lines in 13 Western and Midwestern states. Only U.S. West now stands between SBC control of nearly three quarters of the U.S. Throw in telecom deregulation that should eventually allow local phone companies...