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...Minister Jose Maria Aznar in Madrid--he would have been judged a resounding success. He sailed over that low bar. From the U.S. standpoint, the week's only truly sour note had nothing to do with the President's performance. It came, rather, with a surprise announcement by Jack Welch, chairman and CEO of General Electric Co. The conditions that the E.U.'s competition authorities wished to place on GE's merger with Honeywell International, Welch said, were deal breakers. Bush may have sympathized, but he did not make the GE deal part of his official business...

Author: /time Magazine | Title: A Tour Without A Trip | 6/25/2001 | See Source »

...have its fraught moments. The values gap between Europe and the U.S. may be smaller than many think, but there are two senses in which the Atlantic dialogue is moving onto new and, for Americans, unfamiliar ground. The first involves the growing economic power of the European Union. Welch allowed that he was "surprised" by the demands made by Mario Monti, the E.U.'s antitrust commissioner, which only goes to show that one of America's most respected CEOs can't always be well informed. The E.U. has been exercising jurisdiction over mergers between non-European firms for more than...

Author: /time Magazine | Title: A Tour Without A Trip | 6/25/2001 | See Source »

...JACK WELCH GE's $45 bil bid for Honeywell too sticky for Euro regulators. Rare dud for Neutron Jack...

Author: /time Magazine | Title: Notebook: Jun. 25, 2001 | 6/25/2001 | See Source »

...Europeans are playing hardball with GE, frustrating CEO Jack Welch's $40 billion-plus Honeywell merger. European Commission regulators fear that the union would give the new entity undue market power. GE, they argue, could bundle its jet engines and Honeywell's avionics, hurting Rolls Royce and other engine suppliers...

Author: /time Magazine | Title: The Deal Breaker | 6/25/2001 | See Source »

Forget Jack Welch. The best still unwritten business book may come from the pen of Mariah Carey. After her 1998 divorce from Sony Music boss Tommy Mottola, Carey--the top-selling female singer of all time, with 140 million units sold worldwide--made it clear she wanted out of her contract. She got her wish in April, with an unlikely assist from Jennifer Lopez. In January, a snippet of music Carey had licensed for herself mysteriously appeared on Lopez's J. Lo album, also released by Sony. In the world of music divas, such double dealing can feel like...

Author: /time Magazine | Title: How Mariah Escaped Sony | 6/18/2001 | See Source »

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