Word: bankrupting
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Dates: during 2000-2009
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Everybody loves Grandma, right? But what if she's going to bankrupt the country? Every seven seconds an American turns 50, and the oldest baby boomers will reach 65 in four years. That generation accounts for 78 million Americans. They consume 40% of the federal budget through such programs as Social Security and Medicare. And policy experts fear that the coming wave of seniors could swamp those programs--leaving a gift of higher taxes and reduced benefits for their kids. "The crisis is coming--we know that," says Bill Novelli, CEO of AARP...
...Best & Co. name was first revived in 1997 when Susie Hilfiger saw a void in the kids' market and acquired the name of a beloved, but bankrupt, department store. "It clothed generations of children and it was the go-to resource for beautiful, classic children's clothing," explains Renfrew. That has been the company's mission since the first Best & Co.'s demise 35 years...
...from under the floorboards and we are putting it into circulation through loans." But the ADB's Fazil worries that the system is unstable: Afghanistan's banking sector is largely unregulated, and loan officers have little experience in assessing the risks of business lending. "If the private sector goes bankrupt, [Afghanistan's private banks] will go bankrupt," he says, "and the public, with all their 'safe' deposits, what will happen to them...
...another Bakrie Group subsidiary for the princely sum of $2; then to the British Virgin Islands-based investment firm Freehold Group. The latter deal collapsed last week after a public outcry, with many Indonesians fearing that the sale might prefigure an attempt by a new owner to declare Lapindo bankrupt, potentially leaving the government to pay for a disaster that one environmental group estimates has already caused $3.6 billion in damage...
...concessions. US Airways should expect no favors. "Management must first focus on fulfilling the promises made to their investors, customers and employees for the America West--US Airways merger," says Captain Kevin Kent, a representative of America West's pilots union. Then there's Delta's status as a bankrupt. That gives creditors like GE and Boeing a say in the matter, although Delta is the only entity that can make a reorganization or merger proposal to the bankruptcy court between...