The Finnish government and major creditors of bankrupt shipyard Waertsilae Marine Industries Oy agreed in principle to form a new company to complete most of the troubled shipyard's backlog of 15 ships. The new company will attempt to limit the shipyard's losses, participants said. "The situation is that the bankruptcy court will get out of the shipbuilding business. Everything will be taken over by the new company," said Christian Andersson, executive vice president of Oy Waertsilae, former parent of Waertsilae Marine. Once its ownership is finalized, the new company will open talks with state-appointed receivers to buy or lease Waertsilae Marine's shipyard facilities. Subcontractors will be offered a settlement and a swift transition to new management is expected to avert an exodus of skilled workers from Waertsilae Marine's two big shipyards, government officials said. Under an accord signed yesterday, the government and Union Bank of Finland would become major shareholders in the new company, each injecting 100 million Finnish markkaa ($23.5 million). Oy Waertsilae is to contribute 200 million markkaa, most of it as subordinated debt, and take a minority stake in the new company. Customers holding contracts for Waertsilae Marine's undelivered ships are expected to subscribe most of the remaining 170 million markkaa in share capital, government officials said. Waertsilae Marine's biggest creditor is Miami-based Carnival Cruise Lines Inc. Carnival, which has three ships on order from Waertsilae Marine, presented claims for $1.5 billion damages in the bankruptcy court this week. Waertsilae Marine's bankruptcy proceedings began Tuesday in a Helsinki court.

Will the Finnish government own the new company?

'' The Octopus , '' a masked crime lord , is bent on crippling the nation with a wave of terror . He starts with the transportation system and then moves onto industry . He demands tribute from railroad magnates and other captains of industry . Richard Wentworth , an amateur criminologist who is friendly with the police , is secretly '' The Spider , '' a masked vigilante equally determined to wipe the Octopus and his gang off the face of the earth . Pleasant and smiling in civilian life , Wentworth is often ruthless as the Spider , slinging two guns against the public enemies who attack him . Wentworth also masquerades as affable underworld lowlife Blinky McQuade . Disguised as McQuade , Wentworth can infiltrate gangland at the hired-gun level and keep current on the gang's plans . The only people who know Wentworth's other identities are his assistants Jackson and Ram Singh , his butler Jenkins , and his fianc e Nita . The Octopus was a villain in a single issue pulp believed to have been written by Norvell Page who wrote most of The Spider pulp stories . He is garbed completely in white and is only ever seen sitting in a chair . Unlike the pulps , The Spider is garbed in a lightweight full length costume with web-like markings on it Which resemble Spiderman's costume . The serial follows the standard formula of fights , shoot-outs , Wentworth's friends being kidnapped at various times and having to be rescued . Each chapter ends with The Spider or his friends in deep trouble , often about to be killed , but the effect is spoiled by a trailer for the next episode Which shows them in full health and fighting the villains .

Who is trying to stop the crippling wave of terror?

Once upon a time I had a dog named Toodles. He was black and white and had long floppy ears. He also had very short legs, but really big paws. Every Saturday we would go to the park and play Toodles' favorite game. Toodles loved playing fetch. One Saturday, Toodles ran over to the pond because he saw ducks swimming there. He ran all around the pond, barking at the ducks. The ducks ignored him, and kept swimming. Toodles wasn't having it! He jumped into the pond and started swimming toward the ducks, chasing around his new playmates. One of the ducks, braver than the others, poked Toodles with his beak - and then bit him right on one of his floppy ears! Toodles barked and ran out of the pond because the duck hurt his ear. Soaking wet, he ran toward where I was eating a sandwich on the grass and curled right up in my lap so I could make him feel better. After that, whenever he would see a duck, Toodles would run the other way.
How did Toodles play with the ducks?