Word: bankes
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Dates: during 2000-2009
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...even the biggest clubs cannot escape financial pressures completely. KPMG, auditors for the parent company of Premier League runners-up Liverpool, warned in accounts published last week that the firm's need to refinance some $575 million in bank loans - debt stemming from the club's 2007 takeover by American investors - amounted to "a material uncertainty which may cast significant doubt on the group's and parent company's ability to continue as a going concern." A deal to roll over the debt is likely; as a storied and well-supported club, Liverpool generates healthy revenues and profits. But difficulty...
...Just ask English club West Ham United. Asset-management company CB Holding took over the East London club earlier this week, after its Icelandic owner and chairman Bjorgolfur Gudmundsson lost his trousers in the credit crunch. Iceland's Straumur Bank, CB Holding's major shareholder, is itself in the midst of restructuring after being bailed out by the Icelandic government in March. In Spain, once mighty Valencia is effectively controlled these days by local lender Bancaja, its major creditor, after hapless management and a soured stadium-development plan left the club about $725 million in debt. (See pictures...
...build higher because of it. He also knows that tearing down revenue-generating buildings to put up new ones - even if they're three times as large - is a gamble, particularly in the current economic climate. "You very well could be handing that property over to a bank," he says...
...Adopting the style of a populist demagogue, Ahmadinejad hasn't allowed facts to spoil a good argument. In public appearances, for example, he has repeatedly claimed that Iran's inflation rate is 15%, whereas the country's Central Bank puts it at 25%. He insists, against the evidence, that unemployment and the country's disparity in wealth are both on the decline, and he casts himself as an Iranian Robin Hood, depicted on banners as bowing to poor old farmers and deprived children. And in a neat trick for an incumbent, he styles himself as an insurgent outsider: "For four...
...people? Which party should be given attention, the hangman or the victim, the oppressor or the oppressed?" He also had no apologies for Hamas' history of attacks directed against innocent Israelis, saying it was a matter of self-defense. (Watch TIME's video "Protesting Gaza, Carefully, in the West Bank...