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Since then, the company's finances have improved marginally. The record division made nearly $250 million in underlying profit in the fiscal year 2009, while the company's music-publishing arm, which oversees songwriters, generated $208 million. Both profits, though, were wiped out by massive write-downs, which created a largely paper loss of $2.4 billion. "With that level of debt in the business, the reality is that EMI is now almost worthless," says Simon Dyson, editor of the London-based industry newsletter Music & Copyright. (See the 100 best albums of all time...
Last summer, Hands proposed a deal in which he would inject $1.56 billion into EMI if Citigroup wrote off about the same amount in debt. Citigroup said no and offered instead to write off $1.56 billion in debt in return for controlling ownership of the company. Hands refused and then sued Citigroup, claiming the bank had persuaded him to pay too much for EMI in the first place. Now the two sides aren't speaking. Hands says Citigroup is playing "hardball for no good reason," while the bank feels that Hands is being unrealistic in his demand to remain...
...time and that the "Confucian tradition" has been remarkably enduring. When in the company of even the most astute Big China Book authors, like Jacques, I often find myself wondering if the place they are describing can really be the same one that I regularly visit and teach and write about for a living. For the China I know is one where complex regional divides fragment the population and the views of many people don't fit into either the dissident or loyalist category. It's a country with multistranded traditions, not just a single Confucian...
...first time I came across Salinger, I swore in my head for a week. My ninth-grade English teacher assigned us to write fairy tales in Holden’s voice, and she was taken aback by my willingness, sweet little 15-year-old and all, to adopt Holden’s goddam style right down to the goddam word...
...second time, I returned to Holden to write my thesis on post-war “breakdown” novels. Holden's voice, along with Esther Greenwood's and Deborah Blau's, was in my head for months. But read alongside other Cold War novels of anxiety and depression, Holden became something far more than the sum of his choice words: he was the first of several young protagonists to describe what it was to feel lost and aloof—and to be treated by the medical establishment for having such feelings. It?...