Word: transferals
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...products, and Parmalat would send them fake invoices and charge costs and fees to make the "sales" look legitimate. Then Parmalat would write out a credit note for the amount the subsidiaries supposedly owed it, and take that to banks to raise money. To make the debt disappear, Parmalat transferred the liabilities to off-book subsidi-aries, also based in offshore havens. Bondi, the bankruptcy commissioner, says the system was a lethal brew. "In an attempt to hide its state of insolvency," he said in a report, Parmalat "entangled itself in gran-diose financial operations that were ever more costly...
...force inside for the Crimson. At 6’8, Stehle led the Ivies in shot blocks last year with 43. The All-Ivy Honorable Mention last year also tallied 42 steals on the season, good for seventh in the league. Stehle will have his hands full with Arizona transfer Dennis Latimore, considered by many the best player on this year’s Irish squad. That’s scary, considering Francis has been tabbed as the Big East’s premier big man after the graduation of UConn’s Emeka Okafor...
...Barnes era is over at Cornell, leaving behind a group of solid shooters and role players who will need to fill a huge void. Lenny Collins and Cody Toppert will be the new keys on offense, but neither has the scoring ability of Barnes. Air Force transfer Ryan Rourke should help out immediately on the offensive end of the floor, and Eric Taylor will be called upon to anchor the interior. Cornell has the talent to make a push for that last upper division spot behind Princeton, Penn and Yale, especially if Rourke makes as big of an impact...
...with budgetary authority. Rumsfeld, however, isn’t eager to cede any power to a new NDI. Republicans on the House Intelligence Committee are currently deadlocked with their Senate counterparts on this issue. A bi-partisan Senate bill would strip Rumsfeld of some of his budgetary powers and transfer them to the new NDI, but the House Republicans aren’t buying. Bush, meanwhile, hasn’t budged. The protracted stalemate has led even Norm Orenstein, analyst at the right-wing American Enterprise Institute, to question the President’s resolve: “The question...
Mahan said that the situation the council found itself in last spring, when 93 checks bounced, was not due to over-spending or over-budgeting, but rather to a transfer problem between the council’s $330,000 account with the University and its Fleet bank account, which currently contains...