Word: assets
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Henderson's own history will be both an asset and a liability in his new post. A company lifer, he has presided over GM's growth in regions around the world, earning accolades as a talented, tough and steady leader. But as a consummate insider who formerly served as President and COO, he must also shake the public perception that feckless leadership has played a large part in GM's slide toward insolvency. Henderson is known for keeping his cool in tough spots, but there are few hotter seats in the business world than the one he's just landed...
...firms already struggling from rising delinquencies, and could force some troubled firms such as Bank of America, Citigroup and Wells Fargo to go back to the government for another round of financing. That could create another problem: There's just $135 billion left in the Treasury Department's Troubled Asset Relief Program, so an increasingly cantankerous Congress could balk at being called on to pony up more funding for the program. (Read "Separating Toxic Assets From Legacy Assets...
...course, the hope of the Treasury's PPIP program is that with cheap loans from the government investors will be willing to pay more. Why would they do that? Like lower prices, leverage boosts returns. So an investor buying an asset in part with loans should be willing to pay more than someone who has to buy that same asset with just their own cash. Based on TIME.com's analysis, an investor, using the 6-to-1 leverage the government is providing, can pay as much as $0.70 per dollar lent, and still expect to get the same return...
...other finance experts said the issuances were less the result of poor decision making in the past and more a reflection of the unpredictably volatile market in which it issued its debt. David Scudder, a former vice president at Harvard Management Company who now serves as chairman of Aureus Asset Management, said that December was not an easy month to issue any bonds at all, and that 2008 was a “very exceptional year in which virtually every class around the globe, with the single exception of Treasury bonds, went down in value.”He added...
...year veteran of HMC, Larson delivered 11.6 percent average annual gains in his section of the Company’s portfolio for the five years prior to his departure, blowing past the 4.1 percent benchmark for his asset class, according to the Boston Globe...