Word: yachts
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Dates: during 1990-1999
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During the probe at Stanford launched by the subcommittee in October, investigators found that the university had been allotting hundreds of thousands of dollars of indirect cost funds to cover the depreciation on a 72-foot yacht, floral arrangements at the home of President Donald Kennedy '52, and the refurbishment of a grand piano at the President's home, according to a report published last month by The Boston Globe...
Stanford officials have admitted that they made a mistake in billing for the yacht and some other items, and the university recently agreed to repay the government $184,286. However, the investigation at Stanford is not yet complete...
...running the British royal household this year will total 56 million pounds, or $109 million, according to an official report. The tab includes $139,000 for libations and $122,850 for laundry. Most of the funds go to maintain four . palaces, three planes, two helicopters, a train and the yacht Britannia, while remunerations for members of the royal family total $20.3 million, including $15.4 million for the Queen...
...second only to the wealth of the Sultan of Brunei ($25 billion). He boasts at least 12 royal palaces, ranging from the $2.5 billion Al-Yamamah Palace complex in Riyadh to a "cottage" four times the size of the White House in Marbella, Spain. He owns several jets and yachts, all with gold bathroom faucets; his main yacht, a $60 million craft, is escorted by a vessel that carries Stinger antiaircraft missiles. His fleet of air-conditioned Rolls-Royces, Cadillacs and Mercedes would clog Rodeo Drive...
...after news of the Adidas offer broke, the Paris stock exchange halted trading in his company's shares as doubts spread that Tapie could muster the backing from French banks to finance the takeover. At the time he was aboard his 90-ft. yacht in the Mediterranean, but his company put out a statement saying "the total price" he would have to pay for Adidas "will make all those who doubt our financial ability look ridiculous." Some reports put the figure at $450 million. Tapie's bid for Adidas could also benefit from the French government's unofficial blessing. With...