Word: volkswagens
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...billionaire whose business empire included some of Germany's best-known cement and pharmaceutical companies, threw himself in front of a train on Jan. 5--driven to suicide, his family said, by the global financial crisis. Merckle had lost hundreds of millions of euros in a bad bet on Volkswagen shares, endangering the future of his companies as a result. A handful of other business leaders have taken their own life amid the recent economic downturn, including Kirk Stephenson, the London-based CEO of Olivant, who died in September...
Though he led a quiet life, mountain-climbing being among his few personal passions, Merckle was thrust into the headlines in November as it emerged that he lost several hundred million euros when he got caught on the losing end of a short sale of Volkswagen shares. It is believed that he lost as much as €500 million. His trouble was made worse by the spreading financial crunch, which hit his corporate empire hard. (See pictures of the global financial crisis...
...heat, it doesn't need a system that supplies twice that - yet that's how many buildings operate. "It would be correct for about two percent of the year, and overpower you for the rest," says Trethewey. "It's like a V12 engine in a Volkswagen - it leads to wasted energy...
...Monday, Alperon, 53, donned a jaunty black fedora and sunglasses and drove to a Tel Aviv courthouse to boost the spirits of a son who was being indicted for allegedly running an extortion racket. Afterward, Alperon climbed into a white Volkswagen (he wasn't all that flashy a mobster) and drove into a busy thoroughfare, where the bomb, set off by remote control, exploded. The feared don of one of Israel's most powerful crime families was killed instantly, and police say his murder will certainly be avenged, most likely triggering a round of gang warfare. (See pictures...
...hedge against losses and theoretically make money whether equity markets rise or fall. Funds that employ long/short strategies have been hampered by government bans on short-selling intended to calm unsettled markets. Indeed, shorting strategies have been widely blamed for exacerbating volatility. On Oct. 28, German automaker Volkswagen briefly became the world's most valuable company when hedge funds that had shorted the company's stock on the premise that it was overvalued were forced to buy it back in a panic after smaller rival Porsche announced that it had secretly bought up a sizable share of VW. The stock...