Tuesday, June 22, 2004

New York Post Online Edition: business

New York Post Online Edition: business: "PERELMAN'S PULL NET$ REVLON AID "

Mmm, need an example from the US of what is wrong with Japanese keirtsus? Revlon to the rescue! According to the NY Post, Ron Perelman--the controlling shareholder in Revlon and major shareholder in Citigroup, used some of his power to get Citigroup to make the loan. Why is this wrong? If the loan should have been made anyways, then no problem, BUT if the loan was an error, and only made because of the cross-holdings, then the original problem gets spread to other companies and the banking sector.

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