Lis­ten:
MP3 One Seg­ment
RealAu­dio
NB: This RealAu­dio stream con­tains FTRs 299 and 300 in sequence. Each is a 30-minute broadcast.

1. The title of this pro­gram derives from a pas­sage from the Nazi tract Serpent’s Walk. Like The Turner Diaries (also pub­lished by National Van­guard Books), the book seems to be a blue­print for a Nazi takeover of the United States (rather than a novel), set to take place in the mid­dle of the 21st cen­tury. The book describes the Third Reich going under­ground, buy­ing into the Amer­i­can media, and tak­ing over the coun­try. “It assumes that Hitler’s war­rior elite — the SS — didn’t give up their strug­gle for a White world when they lost the Sec­ond World War. Instead their sur­vivors went under­ground and adopted some of the tac­tics of their ene­mies: they began build­ing their eco­nomic mus­cle and buy­ing into the opinion-forming media. A cen­tury after the war they are ready to chal­lenge the democ­rats and Jews for the hearts and minds of White Amer­i­cans, who have begun to have their fill of government-enforced multi-culturalism and ‘equal­ity.’” (From the back cover of Serpent’s Walk by “Ran­dolph D. Calver­hall;” Copy­right 1991 [SC]; National Van­guard Books; 0–937944-05-X.)

2. This process is described in more detail in a pas­sage of text, con­sist­ing of a dis­cus­sion between Wrench (a mem­ber of this Under­ground Reich) and a mer­ce­nary named Less­ing. “The SS . . . what was left of it . . . had busi­ness objec­tives before and dur­ing World War II. When the war was lost they just kept on, but from other places: Bogota, Asun­cion, Buenos Aires, Rio de Janeiro, Mex­ico City, Colombo, Dam­as­cus, Dacca . . . you name it. They real­ized that the world is head­ing towards a ‘cor­po­racracy;’ five or ten inter­na­tional super-companies that will run every­thing worth run­ning by the year 2100. Those super-corporations exist now, and they’re already divid­ing up the pro­duc­tion and mar­ket­ing of food, trans­port, steel and heavy indus­try, oil, the media, and other com­modi­ties. They’re mostly con­glom­er­ates, with fin­gers in more than one pie . . . . We, the SS, have the say in four or five. We’ve been com­pet­ing for the past sixty years or so, and we’re slowly gain­ing . . . . About ten years ago, we swung a merger, a takeover, and got vot­ing con­trol of a super­corp that runs a small but sig­nif­i­cant chunk of the Amer­i­can media. Not openly, not with bands and trum­pets or swastikas fly­ing, but qui­etly: one huge cor­po­ra­tion cud­dling up to another one and gen­tly munch­ing it up, like a great, gub­bing amoeba. Since then we’ve been replac­ing exec­u­tives, push­ing some­body out here, bring­ing some­body else in there. We’ve swing pro­gram con­tent around, too. Not much, but a lit­tle, so it won’t show. We’ve cut down on ‘nasty-Nazi’ movies . . . good guys in white hats and bad guys in black SS hats . . . lov­able Jews ver­sus fiendish Ger­mans . . . and we have media psy­chol­o­gists, ad agen­cies, and behav­ior mod­i­fi­ca­tion spe­cial­ists work­ing on image changes. (Ibid.; pp. 42–43.)

3. Before turn­ing directly to the sub­ject of music, the broad­cast addresses the grad­ual remak­ing of the image of the Third Reich that is rep­re­sented in Serpent’s Walk. In the dis­cus­sion excerpted above, this process is fur­ther described. “Hell, if you can con granny into buy­ing Sugar Turds instead of Bran Farts, then why can’t you swing pub­lic opin­ion over to a cause as vital and impor­tant as ours?’ . . . In any case, we’re slowly replac­ing those neg­a­tive images with oth­ers: the ‘Good Bad Guy’ rou­tine’ . . . ‘What do you think of Jesse James? John Dillinger? Julius Cae­sar? Genghis Khan?’ . . . The real­ity may have been rough, but there’s a sort of glit­ter about most of those dudes: mean hon­chos but respectable. It’s all how you pack­age it. Opin­ion is a godamned com­mod­ity!’ . . . It works with any­body . . . Give it time. Aside from the media, we’ve been buy­ing up pri­vate schools . . . and help­ing some pub­lic ones through phil­an­thropic foun­da­tions . . .and work­ing on the churches and the Born Agains.” (Ibid.; pp. 42–44.)

4. The grad­ual remak­ing of the image of the Third Reich through the media and a resul­tant process of behav­ior mod­i­fi­ca­tion is sug­gested in a syn­di­cated col­umn that is the next topic of dis­cus­sion. “The forth­com­ing movie ‘Tomb Raider,’ open­ing June 15, is a case in point; it flirts with what might be called Nazi Chic. The March 26 issue of Time mag­a­zine fea­tures a photo of actress Angelina Jolie play­ing super­heroine Lara Croft. She is decked in ter­mi­na­trix black, and on her gold belt buckle is what looks unmis­tak­ably like the skull and cross­bones sym­bol of the Nazi Schutzstaffel, or SS. That’s right, the Totenkopf — death’s head — of the Ger­man killer elite. John C. Zim­mer­mann is the author of ‘Holo­caust Denial,’ a book detail­ing pub­lic unwill­ing­ness to accept the truth about the 6 mil­lion mar­tyrs. Zim­mer­man notes that some peo­ple, even now, are ‘sucked into the pageantry’ of Nazism. He spec­u­lates that the ‘Tomb Raider’ mak­ers took an ini­tial lik­ing to the tough-punk style of the Totenkopf emblem with­out real­iz­ing what it was. And that’s part of the prob­lem. ‘A lot of peo­ple now are igno­rant of his­tory,’ Zim­mer­man explains. But that makes it all the more impor­tant, he con­tin­ues, for pop­u­lar cul­ture pro­duc­ers to “be care­ful about han­dling sym­bols, about any­thing that may tend to give Nazism legit­i­macy.’ Such con­cern brings to mind another film-in-progress. Jodie Fos­ter is work­ing on a biopic of Leni Riefen­stahl, direc­tor of such Nazi ‘clas­sics’ as ‘Tri­umph of the Will.’ In an inter­view with the Lon­don Daily Tele­graph last year, Fos­ter explained her attrac­tion to Riefen­stahl, still alive at 98: ‘I’ve been inter­ested in Leni for many many years. . . . She is an extra­or­di­nary woman — sharp as a tack and as beau­ti­ful as she ever was, with a tremen­dous body.’ Foster’s word choices reveal much about the true nature of Nazi Chic. Peo­ple today don’t believe in National Social­ism or in exter­mi­nat­ing Jews. But the legacy of Nazism, in all its flam­boy­ant evil, is an out­ra­geous aes­thetic that plays well in an out­ra­geous cul­ture. That is, in a soci­ety that’s seen it all, per­haps it’s only Nazism that still has the power to shock and stun. Such impact-imagery is worth a lot to those sell­ing books or movie tick­ets or fash­ion. Susan Son­tag made this point in her 1975 essay ‘Fas­ci­nat­ing Fas­cism.’” (“The Hot New Allure of Nazi Chic” by James P. Pinker­ton; San Fran­cisco Chron­i­cle; 4/20/2001; p. A23.)

5. Next, the broad­cast high­lights the uti­liza­tion of music as a vehi­cle for intro­duc­ing young peo­ple to fas­cism and desen­si­tiz­ing them and/or con­vert­ing them. A recent arti­cle in the Ital­ian press under­scored the impor­tance of rock music to con­tem­po­rary fas­cist groups. “Con­certs and com­pact discs have replaced leaflets and poster. Recruit­ment of young peo­ple into the extreme right now hap­pens through music. Mas­simo Morsello, the leader of Forza Nuova, was for­merly a singer for the Salo Repub­lic and was described as the fas­cist de Gre­gori. [The band Salo Repub­lic is named after Mussolini’s last ditch, rump fas­cist gov­ern­ment that was estab­lished in North­ern Italy under Ger­man pro­tec­tion near the end of the war.] His [Morsello’s] record com­pany, Rupe Tarpea, owns Lon­dinium SPQR, the label of Francesco Pal­lot­tino. Pal­lot­tino was involved in the probe into the assault on two young left­ists by two skin­head broth­ers in Capran­ica Cin­ema in Rome. Pal­lot­tino, acquit­ted on all charges, lives in Lon­don and works for [Roberto] Fiore and Morsello’s com­pany, Meet­ing Point. Meet­ing Point is a travel agency and trav­el­ers’ aid soci­ety that orga­nizes con­certs in Eng­land and finds work for young for­eign­ers. Mar­cello de Ange­lis, the edi­tor of the Alleanza Nationale mag­a­zine Area, has a band called 270 Bis. De Ange­lis, Fiore, and Morsello were all con­victed under Arti­cle 270, which pro­hibits asso­ci­a­tions for the pur­pose of ter­ror­ism.” (“Ein! Zwei! Drei! . . . Every­body Sing!” by Peter Gomez; L’Espresso; 1/11/2001; p. 56.)

6. Recently, Ber­tels­mann (a major focal point of this series) ended its talks with EMI con­cern­ing a Bertelsmann-controlled merger. “Merger talks between EMI Group PLC and the music unit of Ber­tels­mann AG col­lapsed amid reg­u­la­tory resis­tance, slam­ming the door on con­sol­i­da­tion among the five music ‘majors’ for the fore­see­able future, say music-industry offi­cials.” (“EMI, Ber­tels­mann Unit End Merger Talks” by Charles Gold­smith, William Boston and Mar­tin Peers; Wall Street Jour­nal; 5/2/2001; p. A25.)

7. Bertelsmann’s pro­jected moves to vault it into first place in the music busi­ness are dis­cussed in FTR-303. FTR-300 turns next to dis­cus­sion of Zomba records (20% owned by Ber­tels­mann.) This firm was seen as a major player in the unsuc­cess­ful nego­ti­a­tions between Ber­tels­mann and EMI. Zomba is an unusu­ally secre­tive firm, its founder shun­ning pub­lic­ity and the firm’s web site fail­ing to give a busi­ness address or phone num­ber! Zomba head Clive Calder is a native of South Africa (hav­ing grown up there dur­ing the Apartheid regime.) “As the founder of Zomba, which over the pat 20-odd years has grown into one of the world’s biggest inde­pen­dent music groups, Mr. Calder has been able to go about his busi­ness in rel­a­tive obscu­rity. Mr. Calder’s assis­tant politely declined a request for an inter­view with the Finan­cial Times, say­ing he was not ready to make an excep­tion to his ‘long-standing no-interview pol­icy.’ How­ever, he now finds him­self thrust into the spot­light as a cen­tral fig­ure in the dis­cus­sions between two of his rivals to cre­ate the world’s largest music group. . . .Close friends and asso­ciates of Mr. Calder remain intensely loyal and are uncom­fort­able talk­ing about him behind his back — even if it is to pile on the com­pli­ments, of which there are many. Indeed, it is hard to find any­one with a bad word to say about this man, who has achieved a near-mythical sta­tus in the busi­ness. Per­haps that is the genius of a no-press pol­icy. Details of his cor­po­rate his­tory are almost as scarce. His press office keeps a tight rein on the flow of infor­ma­tion out of the com­pany and zeal­ously guards his pri­vacy. Web­sites for his busi­nesses fea­ture only the artists. There are no ‘about us’ links, not even a con­tact address or tele­phone num­ber. So who is Clive Calder? He was born In South Africa and is now 54. He founded Zomba in Lon­don in the late 1970’s, when he began a career in which he has man­aged stars such as Billy Ocean, Jazzy Jeff and the Fresh Prince and A Tribe Called Quest. . . . He has already been drawn into the dis­cus­sions between EMI and BMG because part of his own com­pany is at stake. BMG has a 20 per cent share­hold­ing in Zomba, which is now based in New York. . . . BMG owns the North Amer­i­can dis­tri­b­u­tion rights for Jive, a hugely prof­itable label that is said to account for as much as a quar­ter of BMG’s rev­enues in the U.S. and the same pro­por­tion of its world­wide mar­ket share.” (“A Spot­light Turns on the Recluse” by Ash­ling O’Connor; Finan­cial Times; 2/23/2001; p. 12.)

8. Mr. Calder’s South African gen­e­sis is inter­est­ing to con­tem­plate in the con­text of his reclu­sive nature and the rel­a­tively secre­tive nature of his busi­ness. The apartheid regime of South Africa and the elite core of its gov­ern­men­tal and com­mer­cial infra­struc­ture (the Broeder­bond) have very strong his­tor­i­cal and insti­tu­tional con­nec­tions to the Third Reich. The Broeder­bond was allied with Nazi Ger­many dur­ing the Sec­ond World War and a Third Reich agent, Graf Durkheim von Mont­martin, was dis­patched to reor­ga­nize the orga­ni­za­tion along the lines of the NSDAP (the Ger­man Nazi party.) The Broeder­bond and the apartheid regime remained very close to what is called the Under­ground Reich. In light of Zomba’s con­nec­tion to BMG (Bertelsmann’s music divi­sion), Calder’s South African birth, the South Africa/Nazi con­nec­tion and the secre­tive nature of Calder and his oper­a­tions, it is not unrea­son­able to ask whether Zomba might be a Bor­mann company.

9. Another major ele­ment of dis­cus­sion con­cerns Vivendi, the par­ent com­pany of Uni­ver­sal Music. Vivendi is a major French cor­po­ra­tion, hav­ing been founded by Napoleon III as a prin­ci­pal gov­ern­ment util­ity con­trac­tor. It was trans­formed into a media giant by its CEO Jean-Marie Messier. “For nearly a cen­tury and a half, Com­pag­nie Gen­erale des Eaux lived under the shadow of Napoleon III, whose impe­r­ial decree cre­ated the com­pany to man­age the sew­er­age and water­works of the French state. So when Jean-Marie Messier. . . became chair­man in 1996, he inher­ited a sprawl­ing state con­trac­tor with 2,714 sub­sidiaries, which did every­thing from pump­ing water through Paris to build­ing gen­er­a­tors in China, to sup­ply­ing school can­teens in Nor­mandy, to exter­mi­nat­ing pests in Papua New Guinea. Since then Mr. Messier has proved to be a busi­ness­man with impe­r­ial ambi­tions of his own. Over the past five years, he has sold out of sew­er­age and power and bought into music and movies, trad­ing in the company’s 148-year his­tory in infra­struc­ture for an unpre­dictable future on the inter­net. Approx­i­mately $27bn) worth of busi­nesses have been sold, and the his­toric water busi­ness was split off last year. The Gen­erale des Eaux name has been dis­pensed with, traded in for Vivendi—a name invented by con­sul­tants. With last year’s $34bn acqui­si­tion of Sea­gram, the Cana­dian group which owned the Uni­ver­sal enter­tain­ment busi­nesses, Mr. Messier emerged as the chair­man of the world’s sec­ond largest media group. . . . The old water com­pany now touches the lives of hun­dreds of mil­lions of peo­ple around the world: Uni­ver­sal Music’s ros­ter of stars includes Abba, Bob Mar­ley and Eminem: Universal’s stu­dios boast such hits as Glad­i­a­tor, The Grinch and out this week is Brid­get Jones’s Diary; Canal Plus is the largest pan-European pay-TV group; other busi­ness inter­ests, such as USA Net­works and Viz­zavi, a joint ven­ture por­tal with Voda­fone, give it access to most of the devel­oped world.” (“Ambi­tious Emperor Strives to Ride a Nar­row Path” by James Hard­ing and Jo John­son; Finan­cial Times; 4/3/2001; p. 20.)

10. Past dis­cus­sion of Ber­tels­mann has set forth strong cir­cum­stan­tial evi­dence that the firm is prob­a­bly a Bor­mann com­pany. The eco­nomic and polit­i­cal com­po­nent of a Third Reich gone under­ground, the Bor­mann orga­ni­za­tion con­trols cor­po­rate Ger­many and much of the rest of the world.

11. Vivendi’s promi­nence in the media world is sig­nif­i­cant in the con­text of Ger­man (and under­ground Reich) cor­po­rate con­trol over the Amer­i­can media. As dis­cussed in FTR-278 (among other broad­casts), the French econ­omy remained under Ger­man con­trol, even after Ger­man armies left France in front of the advanc­ing Allies. This con­trol had its gen­e­sis with the close coop­er­a­tion that existed between the Ger­man and French finan­cial and indus­trial estab­lish­ments prior to the Sec­ond World War.

12. “In the years before the war, the Ger­man busi­ness­men, indus­tri­al­ists, and bankers had estab­lished close ties with their coun­ter­parts in France. After the blitzkrieg and inva­sion, the same French­men in many cases went on work­ing with their Ger­man peers. They didn’t have much choice, to be sure, and the occu­pa­tion being insti­tuted, very few in the high ech­e­lons of com­merce and finance failed to col­lab­o­rate. The Third Republic’s busi­ness elite was vir­tu­ally unchanged after 1940 . . . They regarded the war and Hitler as an unfor­tu­nate diver­sion from their chief mis­sion of pre­vent­ing a com­mu­nist rev­o­lu­tion in France. Anti­bol­she­vism was a com­mon denom­i­na­tor link­ing these French­men to Ger­mans, and it accounted for a vol­un­teer French divi­sion on the East­ern Front. . .The upper-class men who had been superbly trained in finance and admin­is­tra­tion at one of the two grand corps schools were referred to as France’s per­ma­nent ‘wall of money,’ and as pro­fes­sion­als they came into their own in 1940. They agreed to the estab­lish­ment of Ger­man sub­sidiary firms in France and per­mit­ted a gen­eral buy-in to French com­pa­nies.” (Mar­tin Bor­mann: Nazi in Exile; Paul Man­ning; Copy­right 1981 [HC]; Lyle Stu­art Inc.; ISBN 0–8184-0309–8; pp. 70–71.)

13. The Ger­man eco­nomic con­trol of the French econ­omy pro­ceeded smoothly into the post­war period. “Society’s nat­ural sur­vivors, French ver­sion, who had served the Third Reich as an exten­sion of Ger­man indus­try, would con­tinue to do so in the period of post­war tri­als, just as they had sur­vived the war, occu­pa­tion, and lib­er­a­tion. These were many of the French elite, the well-born, the prop­er­tied, the titled, the experts, indus­tri­al­ists, busi­ness­men, bureau­crats, bankers. . . . Eco­nomic col­lab­o­ra­tion in France with the Ger­mans had been so wide­spread (on all lev­els of soci­ety) that there had to be a real­iza­tion that an entire nation could not be brought to trial. Only a few years before, there had been many a sin­cere and well-meaning Frenchman—as in Bel­gium, Eng­land, and through­out Europe — who believed National Social­ism to be the wave of the future, indeed, the only hope for cur­ing the many des­per­ate social, polit­i­cal, and eco­nomic ills of the time. France, along with other occu­pied coun­tries, did con­tribute vol­un­teers for the fight against Rus­sia. Then there were many other French­men, the major­ity, who resignedly felt there was no way the Ger­mans could be pushed back across the Rhine.” (Ibid.; p. 30.)

14. Long after the war, the Bor­mann orga­ni­za­tion con­tin­ued to wield effec­tive con­trol of the French econ­omy, uti­liz­ing the cor­po­rate rela­tion­ships devel­oped before and dur­ing the occu­pa­tion. “The char­ac­ter­is­tic secrecy sur­round­ing the actions of Ger­man indus­tri­al­ists and bankers dur­ing the final nine months of the war, when Bormann’s flight cap­i­tal pro­gram held their com­plete atten­tion, was also car­ried over into the post­war years, when they began pulling back the skeins of eco­nomic wealth and power that stretched out to neu­tral nations of the world and to for­merly occu­pied lands. There was a sug­ges­tion of this in France. Flora Lewis, writ­ing from Paris in the New York Times of August 28, 1972, told of her con­ver­sa­tion with a French pub­lisher: ‘It would not be pos­si­ble to trace own­er­ship of cor­po­ra­tions and the power struc­ture as in the United States. ‘They’ would not per­mit it. ‘They’ would find a way to hound and tor­ture any­one who tried,’ com­mented the pub­lisher. ‘They’ seem to be a fairly small group of peo­ple who know each other, but many are not at all known to the pub­lic. ‘They’ move in and out of gov­ern­ment jobs, but pub­lic ser­vice appar­ently serves to win pri­vate pro­mo­tion rather than the other way around. The Gov­ern­ment ‘con­trol’ that prac­ti­cally every­one men­tions can­not be traced through stock hold­ings, reg­u­la­tory agen­cies, pub­lic deci­sions. It seems to func­tion through a maze of per­sonal con­tacts and tacit under­stand­ings.’ The under­stand­ings arrived at in the power struc­ture of France reach back to pre­war days, were con­tin­ued dur­ing the occu­pa­tion, and have car­ried over to the present time. Lewis, in her report from Paris, com­mented fur­ther: ‘This hid­den con­trol of gov­ern­ment and cor­po­ra­tions has pro­duced a gen­eral unease in Paris.’ Along with the unease, the fact that France has lin­ger­ing and seri­ous social and polit­i­cal ail­ments is a residue of World War II and of an eco­nomic occu­pa­tion that was never really ter­mi­nated with the with­drawal of Ger­man troops beyond the Rhine. It was this spe­cial eco­nomic rela­tion­ship between Ger­man and French indus­tri­al­ists that made it pos­si­ble for Friedrich Flick to arrange with the De-Wendel steel firm in France for pur­chase of his shares in his Ruhr coal com­bine for $45 mil­lion, which was to start him once more on the road back to wealth and power, after years in prison fol­low­ing his con­vic­tion at Nurem­berg. West Germany’s eco­nomic power struc­ture is fueled by a two-tier sys­tem: the cor­po­ra­tions and indi­vid­u­als who pub­licly rep­re­sent the prod­ucts that are com­mon house­hold names around the world, and the secre­tive groups oper­at­ing in the back­ground as hold­ing com­pa­nies and who pull the threads of power in over­seas cor­po­ra­tions estab­lished dur­ing the Bor­mann tenure in the Third Reich. As explained to me, ‘These threads are like the strands of a spider’s web and no one knows where they lead – except the inner cir­cle of the Bor­mann orga­ni­za­tion in South Amer­ica.’” (Ibid.; pp. 271–272.)

15. As doc­u­mented above, Vivendi is an old and very impor­tant French com­pany. Not­ing the close rela­tion­ship between Vivendi and the French gov­ern­ment and, in turn, the close rela­tion­ship between the French gov­ern­ment and the hid­den net­works of Bor­mann eco­nomic power, it seems prob­a­ble that Vivendi is heav­ily involved with the Bor­mann orga­ni­za­tion. Its phe­nom­e­nal growth in the world of global media is, there­fore to be watched closely in the con­text of the line of inquiry being devel­oped in this pro­gram. As dis­cussed in FTR #’s 261 and 263, Ber­tels­mann CEO Thomas Mid­del­hoff is a close per­sonal friend of Vivendi CEO Jean-Marie Messier and, until very recently, was a mem­ber of Vivendi’s board of directors.

16. Mid­del­hoff recently resigned his posi­tion as a direc­tor of Vivendi, in order to pre­vent pos­si­ble con­flicts of inter­est from anger­ing EU reg­u­la­tors. (That would hin­der the expan­sion­ist goals of both Vivendi and Ber­tels­mann.) “Thomas Mid­del­hoff, chief exec­u­tive of Ber­tels­mann, is step­ping down from the board of Vivendi Uni­ver­sal in what is likely to presage a clean-up of the rela­tion­ship between Europe’s two largest media groups. The depar­ture of Mr. Mid­del­hoff comes as Ber­tels­mann, the pri­vately owned Ger­man group, and Vivendi Uni­ver­sal, the French media com­pany, dis­cuss deals cov­er­ing the tele­vi­sion, pub­lish­ing and music busi­nesses. Talks are under­stood to be under way aimed at cre­at­ing a pen-European com­pany focused on the acqui­si­tion of sports rights. The ven­ture would be owned by Canal Plus, the pay-TV group con­trolled by Vivendi Uni­ver­sal, RTL Group, the Euro­pean broad­caster con­trolled by Ber­tels­mann, and JC Dar­mon, the sports com­mu­ni­ca­tions group. Vivendi Uni­ver­sal is con­sid­er­ing sell­ing to Ber­tels­mann its 50 per cent stake in France Loisirs, the French book club half-owned by the Ger­man group. Ber­tels­mann is think­ing about sell­ing its stake in GetMusic.com, the online music joint ven­ture between Ber­tels­mann Music Group and Uni­ver­sal Music. The dis­cus­sions under­line the close rela­tion­ship between Mr. Mid­del­hoff and Jean Marie-Messier, Vivendi chief exec­u­tive . . . Mr. Mid­del­hoff and Mr. Messier have been inter­twined in each other’s suc­cesses as chief exec­u­tives seek­ing to trans­form their com­pa­nies.” (“Mid­del­hoff to Leave Board of Vivendi Uni­ver­sal” by James Hard­ing and Jo John­son; Finan­cial Times; 3/14/2001; p. 15.)