41.  However, U.S. banking laws do not permit banks permanent ownership of operating companies that are acquired in a foreclosure.

42.  If completed, the merger will create the largest ski operating company in North America.

43.  If the company fails, look for a sure downgrade of the operating companies into the land of junk.

44.  If any discoveries are made that are big enough to develop, a joint operating company would be created.

45.  In a worst case scenario, Fokker will stop producing aircraft and just keep the operating companies which are not under protection from creditors.

46.  In addition, as an operating company a trust can raise money by selling stock rather than relying on loans from banks or insurance companies.

47.  In the past, it was difficult to determine the rate of growth and profitability of CMGI operating companies in any detail.

48.  It also loans money at slightly higher rates to select operating companies for land acquisition and building construction.

49.  It also would gradually free the seven regional Bell operating companies to offer long-distance service.

50.  It is managed by Tuas Power Pte., another operating company.