Shopping For Justice?
German companies are watching nervously as a federal judge in New Jersey prepares to rule on a case that could reopen a floodgate of Holocaust — related litigation. The suit was filed by the children of Günther and Fritz Wertheim, who ran a thriving Jewish chain store  before fleeing Nazi Germany. Believing their assets worthless, they sold to a German businessman in 1951 for $18,400. In doing so, they lost prized Berlin real estate, according to the $500 million suit against KarstadtQuelle, Germany's biggest retailer, which now owns the property. The case threatens a 1999 accord
designed to settle all Holocaust-related claims against German firms; the Wertheims argue their case isn't covered because it involves an alleged swindle after the war. Germany's U.S. ambassador sides with Karstadt, saying the case will "endanger the legal peace." But Stuart Eizenstat, the former U.S. official who brokered the €5 billion Holocaust deal, takes the family's side. A ruling could come this month. |
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Fat Cats Get Creamed over pay
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INDICATORS Slouching Toward Oblivion If you have any doubt that market woes in the eurozone are at once-in-a-lifetime lows, consider this. With German stocks down 75% from their peak, and the French market down over 60%, the two combined are not worth as much as the U.K.'s 20 top companies — or the U.S. market's four largest. The Oils Of War George W. Bush isn't the only one who had a good war. First quarter results hit record highs at British Petroleum, where net profit soared 136% to $3.7 billion; at Royal Dutch Shell, where profits jumped 96% to $3.91 billion; and at Exxon, which saw profits more than triple to $7.04 billion. Cracker Jacked A crummy week for Swedish cracker-maker Wasa, after a Swedish court ordered it to re-brand a 27-year favorite, Moraknaecke. Why? The crackers aren't made in the right region. With reasoning like that, can euro membership be far behind? |
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We may not as a nation have a character which enjoys the execution of a contract as much as we do winning the next one. 
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