Word: cash
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...news from Detroit. Embattled Chrysler appears to have run out of rope, and has filed for bankruptcy - a course confirmed by President Obama at a Thursday press conference. The reason for the fast fall into Chapter 11 is that some of Chrysler's debt holders refused to take the cash settlement offer put together by Steve Rattner and the Automotive Task Force, the terms of which they found rather harsh...
...other hand, was trading in a $4.5 billion IOU (related to its VEBA health-care trust for retirees) in return for 55% of Chrysler stock. Does that seem fair? A third group, the secured debt holders, were to trade in a $6.9 billion IOU and get $2 billion in cash - an amount that was later raised to $2.25 billion to mollify disgruntled creditors, though it still failed to win their support...
...what has turned into a restructuring and cultural nightmare. "There are no bronze medals in the telecom-equipment market," says analyst Duncan Stewart of Toronto-based DSAM Consulting. He says Silicon Valley's Cisco Systems and Sweden's Ericsson have the biggest market share, fattest margins and most cash to see them through this downturn...
...long shot for the company to create the next important consumer electronic device or online search tool, but Microsoft has as good a chance, if not a better one, than any other company in the world at success. It has that better chance because it has tremendous cash flow to put into new enterprises and it employees thousand of smart people, who, without any hope that the company will ever move beyond Windows, might simply elect to leave...
...million) routinely is ranked as one of the world's freest economies, it also has a sturdy social safety net. Kalithas Krishnan lost his job at a Swiss-owned cargo operator at Changi Airport at the end of March. Today he receives a monthly total of $260 in cash and food coupons from the Singapore Indian Development Association, one of several government-funded charities, plus $55 to defray school expenses for his 16-year-old son. This support may not sound like much, but because Krishnan has fully repaid the mortgage for his three-room public housing estate apartment, thanks...