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Business News Archive - February 14, 2008

Rand Logistics, a shipping company, has announced that its wholly-owned subsidiary, Grand River Navigation, has exercised its option to purchase three vessels from Wisconsin and Michigan Steamship, the David Z, the Earl W and the Wolverine, for an all-in cost of approximately $20 million in cash.

Word of the Day
postliminy
  • In Roman antiquity, the return of a person who had been banished, or taken prisoner by an enemy, to his old condition and former privileges.
  • In international law, that right by virtue of which persons and things taken by an enemy in war are restored to their former status when coming again under the power of the nation to which they belonged.
The word 'postliminy' comes from a Latin word meaning 'threshold'.