31.   AOL and Time Warner executives argue their proposed merger raises no serious anti-trust issues because their companies operate in different markets.

32.   As it is, companies can operate in secrecy to maximize the chance that executives will become rich.

33.   As many European phone carriers struggle with debt, the company is hardly operating in the best climate to raise cash from asset sales.

34.   As president and chief operating officer, Sugar said his first priority will be to learn how the giant defense and electronics company operates.

35.   Asly, whose company also operates in the Middle East and other former Soviet republics, said he will not pay ransom.

36.   At most state prisons where private companies operate, there are waiting lists to be hired.

37.   At home in Japan, these companies operate in an economy that is finally looking up after a seven-year recession.

38.   At least some of the restaurants might have entertainment themes, similar to the Star Trek restaurant the company operates at the Las Vegas Hilton.

39.   At Syratech headquarters, the company operates a free cafeteria for workers.

40.   At least for the next few years, the two companies will operate dual headquarters, one in Auburn Hills, Mich., and one in Stuttgart, Germany.