Word: bonding
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Many insurers in December decided to reduce their exposure to the surety-bond market. That helped create a supply shortfall, and insurers asked credit-starved companies like K Mart and United Airlines to pony up cash collateral for their sureties--cash that K Mart did not have...
RESPONSE Director Michael Mann says he tried "to represent the totality" of the Cosell-Ali bond and the tumult...
...confident that his people will face these challenges with the same determination as their forefathers who faced Everest. "I believe little has changed in the Sherpa heart," he writes, "for whether I meet my family and friends at Everest base camp or Kathmandu, in San Francisco or London, the bond of Sherpa kinship and tradition runs deep and strong...
...encouraging speculation that it has something to hide. Democrats in Congress, frustrated by Bush's soaring popularity and their own inability to move pet legislation through Congress, smelled a chance to link Bush and his party to the richest tale of greed, self-dealing and political access since junk-bond king Michael Milken was jailed in 1991. That's just what the President, hoping to convert momentum from his war on terrorism to the war on recession, desperately wants to avoid. The fallout will swing on the following key questions...
...first public diagnosis of the economy since October - and with both stock and bond markets hanging on his every word - Alan Greenspan knew better than to play headline-grabbing forecaster in his speech to small business leaders in San Francisco. He limited his outlook for the recovery to another acknowledgement that economic indicators have gone from "unremittingly bad" to "increasingly mixed," and that "significant risks remain." (That much we got from the Fed last dose of boilerplate in December, although ambivalence-ridden stocks still sold into Friday's bell on the restatement...