But under the leadership of industry legend Dennis Picard, the company jettisoned virtually all of its commercial businesses and bulked up on military lines as companies like General Motors and Texas Instruments sought to exit the sector.

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Where companies have lost money in derivatives the problem has not, in general, been the riskiness of the instruments themselves.

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Bosses at Wrexham Maelor Hospital held an internal inquiry as a result of the incident and removed the instruments used in the operation from general use.

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