Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (43818)	12/24/2003 3:16:16 AM
From: elmatador	Read Replies (1) of 74559

Another day, another billion. Italian Officials Say They Suspect $11 Billion Ruse at Parmalat Now is Euro11Bi. Counting the ripples: After FRance Telecom. After Alstom. What next? Reuters Italy's industry minister, Antonio Marzano, stops questions from reporters at the end of a news conference about Parmalat. By JOHN TAGLIABUE Published: December 24, 2003 Agence France-Press Enrico Bondi, Parmalat's chief executive, met with the Italian Industry Minister. Mr. Bondi is a rescue specialist brought in last week to try to save the company and its 36,000 jobs worldwide. ILAN, Dec. 23 — Parmalat, the Italian dairy and food giant, engaged in a tangled scheme involving dozens of offshore front companies to invent assets to offset perhaps as much as $11 billion in liabilities over more than a decade, Italian investigators said on Tuesday.

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