When most executives think about leadership succession, they envision a methodical, pain-staking process, a steady flow of meetings, memos, drafts, and eventually hard documents spelling out the essential elements of executive transition.

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In May, the U.S. Justice Department's inspector general issued a report on the watch-list process, including a flow chart describing how anyone suspected of terrorist ties passes through a series of lists, the most serious of which includes the Transportation Security Administration's no-fly list.

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Within Sony's headquarters and support operations, certain functions have been integrated and organizational structures have been streamlined, while the Company has conducted a thorough review of work content and work-flow process to ensure greater operational efficiency across these operations.

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Despite an overhaul of the bankruptcy laws in 1998, it is still awesomely difficult to foreclose on debts: the definition of bankruptcy turns on net worth, as opposed to cash flow, and the process is slowed down by a two-track system that separates forced restructurings from forced liquidations.

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