Word: assets
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General Growth (GGP), the big mall owner, filed for bankruptcy, as many experts thought it would. The company has $27 billion in debt and, with real estate prices depressed, it may be impossible to raise even close to that amount of money through asset sales...
...Clinton is in fact making significant progress in tackling her debt, which she managed to trim by nearly two-thirds during the first quarter of 2009. But that's not because of gimmicks like raffling off tickets to American Idol. Her campaign's real asset is its database of supporters. In the first quarter alone, it raised more than $2 million renting out that list. Among those who paid the most to use it: Barack Obama's Inauguration committee and the William J. Clinton Foundation, each of which spent...
...Tijuana security services, officials welcome Obama for pledging to stand shoulder to shoulder against the drug gangs. Deputy Attorney General Salvador Ortiz says U.S. aid would be a valuable asset in fighting the gangs. He also says it would be useful to have U.S. agents work more closely in the training of Mexican police and prosecutors, a marked change from the aggressive nationalism long held by many Mexican officials. "It is positive for us to move toward a more American-style system of law enforcement," Ortiz says. "And to do this, it is constructive to have U.S. agents sharing advanced...
...Street Journal, "Key members of an ad hoc committee representing GM bondholders have begun preparing arguments against the auto maker's bankruptcy plan." The creditors may lose their attempt to get a better deal than being given debt in a company which holds the worst part of the GM asset base, but they can make the process prolonged and painful for the company and the Treasury. (See the 50 worst cars of all time...
...firm's bets are paying off. On Monday, Goldman said that it had made nearly $2 billion in the first three months of this year alone. But some analysts say Goldman, which received $10 billion from the government through the Troubled Asset Relief Program, is generating most of those profits by making risky bets on interest rates and other fluctuations in the financial markets with money it has received from the government. Goldman says it would like to pay back its TARP loans as soon as possible, and on Tuesday the company raised $5 billion in a stock offering that...