Bloomberg BusinessWeek, Feb 1, 2016 (II)

choi

(3) Pavel Alpeyev, Takashi Amano and Tom Redmond, Japan Inc v The Highest Bidder
http://www.bloomberg.com/news/ar ... arp-without-a-fight

Quote:

"Critics see Sharp as proof that Abe doesn’t have the stomach for tough reforms. After vowing to liberalize labor markets and deregulate parts of industry, he has delivered few substantive changes. The economy has contracted three times [a contraction means a NEGATIVE quarterly GDP growth rate] since he took office.

"Combining Sharp and Japan Display could create a panel maker capable of taking on market leader Samsung Display. The South Korean company shipped 24 percent of small and midsize screens in the first nine months of 2015, says market researcher IHS. Japan Display was second with 15 percent, followed by LG Display and Sharp with 13 percent and 9 percent, respectively.

Note:
(a) summary underneath the title in print: A state-financed vehicle is likely to win control of Sharp
(b) quotation underneath the title in print: "This is a test case for Abe, and he and his government will fail"
(c) Takashi AMANO  天野 高志  (The “ten” and “ame”/ “ama” are Chinese and Japanese pronunciations, respectively, of kanji 天.)
(d) “Foxconn is offering $5.1 billion; INCJ plans to bid $2.6 billion.  It sounds like a win for Foxconn. But in Japan, floundering companies have long relied on the state. Sharp’s management is leaning toward the lower offer, according to two people familiar with the talks. Shareholders haven’t griped publicly, and Sharp’s banks seem to be onboard.”

Today it is reported online that Foxconn sweetened the pot -- it is unclear by how much -- and Sharp board of directors meets to day and chooses Foxconn as the preferred bidder.
(e) "The Industrial Revitalization Corp of Japan 株式会社産業再生機構 [2003-2007]—INCJ’s predecessor—went beyond rescues of important companies to restructuring whole industries, from construction to tourism."
(f) "INCJ [Innovation Network Corp of Japan 株式会社産業革新機構; 2009- ] put money into Renesas [name a contraction of RENaissancE Semiconductor for Advanced Solutions] Electronics, which was formed in 2010 from the hard-pressed semiconductor operations of Mitsubishi Electric, Hitachi, and NEC. Four years ago [2012- ], INCJ created Japan Display from the troubled screenmaking units of Toshiba, Sony, and Hitachi with a 200 billion-yen infusion."

choi

(4) Peter Coy, California Decides to Go it Alone on Taxes.
http://www.bloomberg.com/news/ar ... o-it-alone-on-taxes

Quote:

"The [interstate] compacts let states get things done without the federal government.

"Congressionally approved compacts have the force of federal law, which trumps state law.

Note:
(a) summary underneath the title in print: A court decision could undermine interstate agreements  
(b) The Gillette Co v Franchise Tax Board, California Supreme Court, Dec 31, 2015
http://www.courts.ca.gov/opinions/documents/S206587.PDF

There is no need to read the court decision, because we can wait to see what happens to Gillette's petition to US Supreme Court.