Word: assets
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...Neill was derided as an outsider by Wall Street and Washington, but that never troubled Bush. He considered it an asset. Yet O'Neill's stint has been rocky from the start. His penchant for making off-the-cuff quips on everything from Argentina's economic collapse to the merits of a strong dollar has roiled markets around the world and cost him the limited clout he had on the Street. "It's not that he's bad, and it's not that he's dumb," says a New York banker who attended a meeting with O'Neill last week...
...anyone overloaded in stocks, it's not too late to sell. But don't overdo it. Even Warren Buffett, a technophobe but also a bargain hunter, just found value in at least one battered telecom: Level 3 Communications. Perhaps the biggest risk now, warns Scott Kahan, president of Financial Asset Management in New York City, is that "by hiding cash in the mattress, you miss the recovery. Start now, and plan with what you have...
...reshuffled his Cabinet after a public outcry over the navy's handling of the skirmish. Conservatives have used the battle to accuse Kim of being soft on Pyongyang and to trash the President's Sunshine Policy of North-South dEtente. "The Sunshine Policy used to be a major asset for Kim and his allies," says Moon Chong In, an expert on Korean politics at Yonsei University. "All of a sudden it has become a major liability...
...English-speaking workforce. The boom's collapse also hit close to home - perhaps most dramatically in the case of the troubled Irish drug company Elan, which has seen share prices plunge 90%, is the subject of an accounting investigation and is struggling to raise $1 billion from asset sales to stay afloat. But as Elan's chairman and CEO Donal Geaney stepped down last week, along with deputy chairman Tom Lynch, their gloom had not really spread to the rest of Ireland's economy. Danny McCoy, economist at Dublin's Economic and Social Research Institute, notes that the troubles...
...declared dead. Messier certainly had reason to economize. In March Vivendi revealed 2001 losses of €13.6 - the largest in French history - mostly due to a €15.7 billion write-down of companies purchased before the high-tech bubble burst. And the financial news just kept getting worse. Despite asset sales and desperate accounting ploys, concerns over the servicing and payment of Vivendi's €30 billion group debt last week led Moody's to rate Vivendi Universal bonds as junk and sent share prices tumbling ever further. Inexplicably, Messier fell silent when panicked investors needed to hear from...