Word: warburgs
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...pattern of cross-ownership between banks and affiliated companies that is one of the toxic hallmarks of the Japanese economy and a major impediment to meaningful reform. The practice of banks having their borrowers as shareholders practically guarantees conflicts of interest. "Unfortunately," says Katsuhito Sasajima, an analyst at UBS Warburg in Tokyo, "the cross-capital holding structure is proving to be a very hard habit to break...
...think Wal-Mart already sells just about everything, think again. Think PCs, ceiling fans, more fashionable clothing, gasoline and even cars. "Their goal is to have a 30% share of every major business they are in," says Linda Kristiansen, a retail analyst for UBS Warburg Equity Research. If there's no Wal-Mart store near you, just wait. If you shop at Wal-Mart, expect your store to get bigger or a new store to open even closer. The chain plans to expand from 3,400 U.S. locations today--half of them in the South--to a nationwide network approaching...
...whom don't have a bank account. It wants to be in any category where it can lower prices. "Their goal is to have a 30% share of every major business they are in and they are pretty serious about it," says Linda Kristiansen, a retail analyst for UBS Warburg Equity Research. They are also serious about global expansion. Wal-Mart wants to be in the world's top 20 national markets, which account for 60% of all retail activity. "I'm not trying to be flippant," adds Lee Scott, 52, Wal-Mart's third ceo. "But simply...
...alert readers pointed out. The second chart, on the Global Investing page, misrepresented the health of two corporate pension plans. As of Aug. 30, Sempra Energy had a pension surplus of $168 million, and Allegheny Technologies had a pension deficit of $32 million, according to revised estimates by UBS Warburg. We attributed our figures to a UBS study, but after we published the story, UBS amended its estimates, saying it found it had begun its study with faulty data. In addition, UBS says that Lucent's pension plan probably swung to a deficit by the end of September. We regret...
...loans in India, where capital has been in painfully short supply?a skill that is especially helpful when your rivals have more money than you. Bharti has garnered a total $1.2 billion of foreign equity investment, more than any other Indian company. Singapore Telecommunications has invested $650 million, and Warburg Pincus has a stake worth nearly $300 million, the private equity fund's third-largest overseas investment. Dalip Pathak, a managing director at Warburg in London, says Mittal was a key factor. "Once he makes a decision," Pathak says, "he moves very quickly...