Word: tunes
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...would be exposed. At that point, two of Europe's biggest banks - Switzerland's UBS and Germany's Deutsche Bank - stepped in. Both injected fresh funds into Parmalat - but at a huge cost to the fast-sinking company. Deutsche Bank kept it afloat by buying Parmalat bonds to the tune of j41 million - but on condition that Parmalat immediately pay off j17 million it already owed the bank. (Parmalat still owes Deutsche Bank j38 million.) UBS agreed to buy j420 million in bonds from Parmalat, but put up just j110 million in cash for them. In a complex transaction...
...broke the high school mile record that had stood for 36 years, the U.S. has its best medal chance in the 1,500 m, although it's unlikely he will beat the dominant African runners. Some fans are fed up with the drug headlines and will tune out no matter how many kids approach the starting line. "I acknowledge this reality," says Craig Masback, CEO of U.S.A. Track and Field. "And I accept it." So Masback just needs Crawford and Gatlin to win medals in both sprints, then win their relays. And Felix to take the gold...
...players it's a chance for a preseason tune-up in a perfect environment--away from their rabid fans. "The facilities are second to none," says Chelsea Football Club CEO Peter Kenyon. But, more important, the big clubs see the U.S. as a vital market in the race to establish a global brand and cash in an ocean away from home. Only teams that have global reach will be able to afford the star players who ensure winning results year after year. Man U was the first to launch a U.S. strategy, teaming with the New York Yankees...
...tone of his Nokia 6110 mobile phone. "I didn't want to hear 'de de de de deeeee' ever again," Paananen recalls. "I wanted to hear Van Halen's Jump, and I was willing to pay for it." The technology was there to program mobile phones to play pop tunes rather than electronic bleeps, so he tried to talk operators and handset makers into offering a selection of popular hits. But his pleas fell on deaf ears: "The biggest resistance was from the operators, who said, 'Ring tones, what's that?'" After almost a year of failed pitches, Paananen managed...
...million. If the merging middlemen can gain some market clout, they might be able to retain their early advantage. But if real-tone songs catch on, firms like Jippii and Jamba! could well find themselves out of business. Either way, ring-tone companies will have to change their tune fast. Otherwise, the industry that Paananen helped launch may be in for a hangover...