Word: bankes
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Dates: during 2000-2009
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...beloved Philadelphia Phillies, who have won just a single World Series title in their 126-year existence. So Reynolds didn't hesitate to shell out $80 for his ticket earlier this month to watch his team pound the Los Angeles Dodgers on a perfect October afternoon at Citizens Bank Park...
With fewer banks making loans, more companies are turning to other sources of capital. Gerald Joseph, president of asset-based lender [i.e., lending secured by an asset] Gerber Finance, says his phone has been busy lately with calls from executives who used to get loans from banks. But, like other non-bank lenders, Joseph says he is being much more selective about which companies he does business with. "We are tightening our lending criteria," says Joseph. "We are turning away many more new clients than we used to." GE Capital, one of the nation's largest non-bank lenders...
Suzan Sabanci Dinçer is all too familiar with banking crises and their devastating effects. A scion of one of Turkey's most famous business dynasties, she is chairwoman of Akbank, the country's biggest privately owned bank. Back in 2001, she lived through a meltdown of the Turkish banking system and a terrifying 9.5% one-year drop in gross domestic product. Akbank posted a big loss that year, but at least it escaped a worse fate: almost half of the nation's 80-plus banks disappeared...
...other job market—bravely trudged across the Charles to a college-wide career fair. And unlike in other years, these students weren’t just there for the free Nalgenes and stress balls (though many could use the latter). They were there because, as one bank after another collapses, serious questions loom about the prospect of employment. Some of them may even have to go work for (gasp) a non-financial company. (And I don’t just mean Google...
...Many fewer banks are recruiting on campus this year than in years past, and many fewer Harvard seniors have secured job offers from their summer internships. But in one sense, it is not so much that we have fallen into crisis as much as we are witnessing the end of a holiday. We’ve been living in a collective delusion. Since i-banking’s rise in the last several decades, many Harvard students and their peers at other competitive institutions have become accustomed to a post-college world paved in gold: You graduate, you secure your...