Excerpts: The Real ‘Norma Rae’ Died Yesterday Her actions helped to bring a union contract to employees at a J.P. Stevens textile plant in Roanoke Rapids, NC, and she gained national fame as a symbol of women’s and laborers’ right after her efforts (and jailing) were fictionalized in the movie. J.P. Stevens management ultimately signed […]
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Excerpts: Foreign Private Equity Investors in China That competition ranges from small PE firms and funds like Hopu, founded by Goldman Sachs China financial wizard Fang Fenglei, which just invested around US$800 million (of the US$2.5 billion it raised from overseas investors) in dairy giant Mengniu and is also planning to raise a domestic PE
Media Dinosaurs Look To Set Up iTunes For News
Excerpts: Media Dinosaurs Look To Set Up iTunes For News Stephen Brill, L. Gordon Crovitz and Leo Hindery Jr. have teamed up to create a system to charge for news, with the idea that any newspaper can sign up and use their system. Clay Shirky calls this an RIAA for news, while Mathew Ingram points
Excerpts: “Daschle pushed Hindery for Obama job.” Tom Daschle backed the patron who paid him a million-dollar salary and supplied him with a free car and driver for a job inside the Obama administration, two Democrats said Monday. Democratic senators on Monday opened up a new line of defense for Daschle, saying his back-tax problems
Excerpt: Tribune Files for Bankruptcy “Over the last year, we have made significant progress internally on transitioning Tribune into an entrepreneurial company that pursues innovation and stronger ways of serving our customers,” Mr. Zell, who holds the titles of Tribune chairman and chief executive, said in a statement. “Unfortunately, at the same time, factors beyond
Excerpt: Tribune Company Seeks Bankruptcy Protection The move came less than a year after Samuel Zell, a Chicago real estate tycoon, took control of the Tribune chain and took on most of the $13 billion debt burden that now threatens to cripple it in the face of a sinking economy and a collapse in advertising.
Tribune Owes LA Times’ ‘Cereal Killer’ $11 Million
Excerpts: Tribune Owes LA Times’ ‘Cereal Killer’ $11 Million Tribune still owes $11.2 million to the former CEO of Times-Mirror (which Tribune bought in 2000) Mark Willes—a man most famous for massive layoffs and an ethical scandal of historic proportions. That predisposition ultimately led to a huge scandal at the LAT in 1999, when it
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The Battle for Mrs. Astor
Excerpts: The Battle for Mrs. Astor They were both referring to the much-publicized case of the late Brooke Astor, the infinitely charitable New York icon, who is alleged to have suffered similar abuse at the hands of her son, former ambassador Anthony “Tony” Marshall, and his attorney, Francis X. Morrissey. The alleged elder abuse of
Excerpt: Merrill Lynch’s Greg Fleming: Sources Say No Legal Trouble Ahead Merrill’s loss-making performance led to the departures of former chief executive Stan O’Neal and former co-president Ahmass Fakahany. But many thought the changes at Merrill would go further. Peter Sorrentino, who helps manage a $12 billion fund that has invested in Merrill told Bloomberg
Proposed Private Equity Investment in Tenaska Power Fund II
Memorandum to: State Investment Council From: William G. Clark, Director Subject: Proposed Private Equity Investment in Tenaska Power Fund II, L.P. This due diligence memorandum is presented to the State Investment Council (the “Council”) pursuant to N.J.A.C. 17:16-69.9 (a) to report on two proposed private equity investments: a $100 million commitment to the Tenaska Power
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