The week in words: Material distractions; asteroid miners; tools on the table
“Unlike prior bad PR stories in recent years, this will be a material distraction for Wal-Mart on multiple fronts.” — Charles Grom, a retail analyst at Deutsche Bank, on allegations that Wal-Mart Stores Inc. covered up the findings of an internal probe that proved its Mexican subsidiary bribed officials in that country.
"Unlike prior bad PR stories in recent years, this will be a material distraction for Wal-Mart on multiple fronts."
— Charles Grom, a retail analyst at Deutsche Bank, on allegations that Wal-Mart Stores Inc. covered up the findings of an internal probe that proved its Mexican subsidiary bribed officials in that country.
"When you think about the growth and the number of employees we have hired. we are constantly being asked if we have a history or a document, and we didn't have that."
— D'Arcy Rudnay, Comcast Corp. spokeswoman, on the company's self-published 424-age corporate history, penned by William Novak and titled "An Incredible Dream."
"Since my early teenage years, I've wanted to be an asteroid miner. I always viewed it as a glamorous vision of where we could go."
— Peter Diamandis, one of the founders of Planetary Resources Inc., which announced plans to send space-faring robots to extract gold and platinum from asteroids within 10 years.
"We are eager to demonstrate to the creditors of [American parent] AMR that our plan would result in higher returns than the AMR stand-alone strategy would."
— Doug Parker, US Airways Group chief executive, on his company's effort to merge with bankrupt American Airlines to form the world's largest airline.
"Those tools remain very much on the table, and we will not hesitate to use them should the economy require additional support."
— Federal Reserve chairman Ben Bernanke, explaining that bond buying and other steps are still an option if the economy should weaken.
"The facility has been operating at a significant loss for some time, and we are exploring every avenue to create a viable plan. It is a heavy lift and we are not sure a solution is possible, but we are doing the work."
— Rodney S. Cohen, a managing director of the Carlyle Group, which is in talks to run Sunoco Inc.'s South Philadelphia refinery. Sunoco plans to shutter the facility this year if another operator is not found.
"In essence, if you want to know why the refineries were closed down, I would kind of say, look in the mirror and we can find the guilty parties."
— Thomas D. O'Malley, chairman of PBF Energy, which owns refineries in Paulsboro and Delaware City, telling lawmakers in a Washington hearing why he thinks government regulation is in part to blame for the unprofitability of refineries in the region.
"The pharmaceutical sector is experiencing pressures, none of which I've witnessed in my 36 years in the industry."
— AstraZeneca P.L.C. chief executive David Brennan, upon announcing that he would retire in June.
Compiled from The Inquirer and Associated Press.