Friday, December 14, 2007

Absolute value

needed to sell its own value and prospects, relative to Rio, for at least three reasons. One was to ensure that whatever happens to the merger proposal the market didn't take on board some of Rio's assertions about the outlook for BHP. Another was the need to re-base the core argument that the proposal is about relative rather than . And yet another was the need to condition the market in its own shares and Rio's for the possibility that this could turn into a long game.

On this day in 1787, became the second state to ratify the Constitution, by a vote of 46-23. Pennsylvania was also the first large state to ratify the nation's founding legal document. .

had a different idea. "I've got nothing else to do tonight," recalled him saying. "I'll go out and play a show for them." And so he did, for an hour. The next day sent Mr. John a bouquet of flowers. "," Mr. Philips had written on the card, appropriating the title of one of the singer's hits..


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