Word: wakes
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...wake of the government's unprecedented take-over of insurance giant AIG, the shares were punished. Mack got in touch with the chairman of the Securities and Exchange Commission and the Treasury Secretary, and then sent out an e-mail to employees: "It's very clear to me," he wrote, "we're in the midst of a market controlled by fear and rumors, and short sellers are driving our stock down...
...good idea. And when Alessandra switched to reception on the third night, leaving me solely responsible for the desserts, I started to question why they ever thought it was a good idea. Maybe cooking with my mother would have been enough. Maybe I didn’t have to wake up every morning convinced I was going to chop off a finger. I wasn’t a natural. I slipped and tripped and sent sparks flying from the electric mixer when I screwed on the beater incorrectly. I carried shards of a broken bowl around...
...Chile. The violence forced Goni to resign and flee to the U.S., where he remains. Morales has far more political support than Goni, but the memory of military massacre still haunts Bolivian politics. Still, the pressure from his own support base may have prompted Morales to intervene in the wake of Porvenir. The sentiments expressed by Baqueros are typical: "People don't even fear the police anymore," she says. "The government has got to get tougher. Either they put an end to this madness or we will do it ourselves...
...well aware of the $85 billion lifeline extended to troubled insurance giant AIG by the U.S. Federal Reserve several hours before. But the news did little to calm his nerves. A day after Asian markets took a beating as investors dumped stocks in the wake of the Lehman Bros. collapse and Merrill Lynch buyout, anxiety over U.S. financial companies was still spreading. By mid-afternoon, a crowd of roughly 150 people still swarmed the entrance of AIA Singapore Ltd., many trying to pull out their funds or cancel their insurance policies. They shrugged off the blistering heat - as well...
...First things first: AIG is still in business, and rushing to save itself. The game right now, in the wake of downgrades from credit-rating agencies, is raising tens of billions of dollars in fresh capital, an effort that was bolstered on Monday when the State of New York said it would let the firm use as much as $20 billion in capital from its subsidiary companies to cover its day-to-day operating needs. But if the company doesn't gain access to much more - it could need to raise as much as $75 billion - quickly, it might...