Word: bankrupting
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Dates: during 2000-2009
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Where have we seen this movie before? A financial system in tatters; banks and investment banks, many effectively bankrupt due to an avalanche of souring real estate loans, are forced to merge with rivals; to prevent an economic meltdown, the government is forced to buy up billions of dollars worth of bad assets - raising taxes to pay for the program - as citizens seethe. That's the U.S., today. But the prequel to Nightmare on Wall Street occurred more than a decade ago in Japan, when epic real estate and stock-market bubbles burst - making it all the more remarkable that...
...bottom fisher took a step it had been preparing for since spring, when Kenichi Watanabe, CEO of Nomura Holdings, began raising a $5.6 billion war chest to increase his firm's international footprint. Tokyo's biggest investment bank said it would buy the Asia operations of Lehman Bros., the bankrupt Wall Street firm, and was in negotiations to take over its European operations as well. The $225-million deal saves the jobs of about 3,000 Lehman employees, some of whom expressed surprise as well as relief that they might keep their jobs. "Now we have a parent with money...
Clearly, Jobs, who left Apple in a power struggle, then returned to resurrect it from a near bankrupt state, learned something from his missteps. The iPhone is more open than Apple's computers. Apple relies almost exclusively on third parties to create software for the iPhone, and even sells it to developers in its App Store. That's why iPhone applications look to be a $1 billion business...
What happens if I have a brokerage account at a firm that goes bankrupt...
...huge hit Nevermind (more than 4 million copies sold) on the Geffen label, other major labels began an indie-band feeding frenzy. Bands that had been playing in taverns were being offered $300,000 contracts. Many of these groups were founded on the principle that mainstream music was bankrupt, which only made them more attractive to mainstream labels...