BRIEFCASE `MAGIC' AMONG 50 POWERFUL BLACKS.Byline: - Staff and Wire Services Former Lakers star Earvin ``Magic'' Johnson has been selected one of Fortune Magazine's 50 Most Powerful Black Executives. Fortune based the selection of the 50 on an executive's business acumen, the success of his company and the degree of power wielded within a company and its industry, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a statement from Johnson's real estate development firm, Johnson Development Corp. Johnson ranked 33rd on the top 50 list. Market rally was one-day wonder NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - The year's biggest stock market rally reverted to a one-day wonder Thursday when investors failed to sustain their buying. For blue chips, the day was a wash, while technology stocks fell. The market was overpowered o·ver·pow·er tr.v. o·ver·pow·ered, o·ver·pow·er·ing, o·ver·pow·ers 1. To overcome or vanquish by superior force; subdue. 2. To affect so strongly as to make helpless or ineffective; overwhelm. 3. by news that the Securities and Exchange Commission is investigating Citigroup and J.P. Morgan Chase, the nation's two biggest banks, in connection with Enron loans, and media giant AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner about its accounting for certain advertising sales. Game sales, films earn Sony profits TOKYO - Buoyed by game sales and hit movies, the Sony Corp. returned to profitability in the first fiscal quarter, but the rising value of the yen put a dent in the company's forecast for the rest of the year. Despite the brewing storm, Sony's strong showing in the period ended June 30 suggests that Japan's battered electronics industry is bouncing back from its worst downturn in decades. By slashing inventories, shutting factories and cutting jobs, Sony and its rivals have been bracing for another retreat in demand, which many expect later this year. Much of the good news was driven by Sony's hit movie ``Spider-Man,'' which has grossed more than $675 million worldwide. Sales of PlayStation 2 game consoles and the software to go with them were also strong. Adelphia charges go much deeper PHILADELPHIA - When Adelphia Communications came clean to the public about rampant self-dealing by its founding family, the cable television operator apparently gave the G-rated version. Charges filed against members of the Rigas family following their arrest Wednesday revealed new details of the egregiousness of their alleged dipping into the company's till. The criminal complaint, filed by U.S. Attorney James B. Comey in Manhattan, said the Rigases borrowed billions of dollars for use by their own companies, used $252 million in Adelphia's money to meet demands for cash payments on loans for which they had put up Adelphia stock as collateral and used company jets for private travel. Peter Fleming
Peter Fleming, OBE (May 31 1907 – August 18 1971) was a British adventurer and travel writer. , the Rigases' lawyer, said the Rigases ``absolutely'' would deny the allegations. Consortium has it its way with BK LONDON - The Whopper Whopper - WarGames is heading home. Britain's Diageo PLC announced a deal Thursday to sell Burger King Corp., the world's second-largest fast-food business, to a consortium of U.S. investors. Diageo, the world's largest producer of alcoholic beverages
Burger King's buyer is a consortium of venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] led by Texas Pacific Group. The trio also includes Boston-based Bain Capital Bain Capital LLC is a Boston, Massachusetts-based private equity firm founded in 1984 by Mitt Romney, the former Governor of Massachusetts, and two other partners from the consulting firm Bain & Company: T. Coleman Andrews III and Eric Kriss. and Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Capital Partners, the private equity arm of U.S. investment bank Goldman Sachs. Factory orders plummet in June WASHINGTON - Orders to U.S. factories for big-ticket goods, including cars and computers, fell in June by the largest amount in seven months, raising fears that the stock market doldrums may be causing Americans to rein in to check the speed of, or cause to stop, by drawing the reins. to cause (a person) to slow down or cease some activity; - to rein in is used commonly of superiors in a chain of command, ordering a subordinate to moderate or cease some activity deemed excessive. See also: Rein Rein spending and slow the recovery. The decline in orders along with a 1.4 percent drop in shipments - a good barometer of current demand - was viewed by economists as an ominous sign that businesses, battered by the sour stock market, may be growing even more uncertain about the economy's recovery. |
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