Long before announcing on Sunday that he would step down as chairman of AOL Time Warner, Case had liquidated some of his stockholdings.
Case sold shares for roughly US$160 million after putting together the combination of his company, AOL, with Time Warner in early 2000. Even before then, from 1992 through 1999, Case sold AOL shares worth about US$531 million.
In addition, he owns 11.4 million shares of AOL Time Warner and has 18.3 million stock options, some of which are underwater at the current share price. At Monday's close of US$15.03 a share, the shares he owns outright were worth about US$171 million. Case was not entirely prescient, though. He added to his holdings last year, buying about a million shares that have since fallen in value.
Case's reputation has waned as the AOL Time Warner merger foundered along with reports of aggressive accounting at AOL before the merger. Still, it seems that Case came out ahead of his counterpart at Time Warner, Gerald M. Levin. Since resigning as chief executive last year, Levin has sold one home and has put two more on the market, perhaps because he is preparing for a divorce from his wife, Barbara.
‘NO SECURITY RISK’: The Railway Bureau reassured the public that the technicians’ activities were limited to technical guidance and did not involve sensitive systems The Railway Bureau yesterday said it had invited eight Chinese technicians to assist with an airport MRT construction project. The bureau issued the confirmation after an Internet user said Chinese nationals had entered the construction zone of Taiwan Taoyuan International Airport’s Terminal 3 project. They asked why “individuals from an enemy state” were allowed access to such a major national infrastructure project, which raised serious concerns over Taiwan’s industrial safety, sensitive systems and information security. The bureau’s Northern Region Engineering Branch Office said subcontractor Taiwan Handle Industrial Co (台灣手把工業) of the Taoyuan airport MRT’s “Contract No. CU05 Project A14 Station Civil, MEP &
A US uncrewed surface vessel (USV) encountered multiple Chinese warships during an autonomous transit of the Taiwan Strait, US defense company Seasats said in a statement on Wednesday. Seasats announced that a Lightfish USV had completed the first autonomous transit of the Taiwan Strait. Over five days, the USV traversed the entire length of the Strait while constantly monitoring surface vessel traffic, the company said. The Lightfish encountered multiple Chinese warships, one of which was a Chinese People’s Liberation Army Navy (PLAN) Type 056 corvette, it said. The Chinese vessels were operating “well within Taiwan’s exclusive economic zone without transmitting their identity via the
Taiwan is still in the process of assessing the possibility of recruiting workers from Eswatini, the Ministry of Foreign Affairs said yesterday, adding that its goal is to help Eswatini upgrade its vocational training centers. If there are plans to recruit workers from Eswatini, safeguarding national security, protecting public health and ensuring the employment rights of Taiwanese would be prerequisites, Department of West Asian and African Affairs Director-General Yen Chia-liang (顏嘉良) told a news conference. Key considerations would also include filling labor shortages in specific industries, and fostering bilateral professional and technical exchanges, he said. Yen was asked about the progress of labor
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