Word: cashes
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Shukla himself has branched out of real estate. He started selling insurance six months back "to pay the bills," he says. According to various estimates, sales in cities like Mumbai and Chennai are down 30% to 40%. Hoping to induce buyers during Diwali, realtors are advertising cash discounts of 5% to 10% for down payments, and as much as 25% discounts if buyers are willing to wait two to three years before taking possession of the property. "But there is no liquidity with the end user," says Arvind Nandan, director of consultancy at real estate company Cushman & Wakefield India. "Home...
...their reckless past. Homeowners won't want to borrow so much. Savings, which have been near zero, will go up - good for the economy in the long run but bad for an economy going into recession. While some large firms may be sitting on a bundle of cash, small firms depend on loans not just for investment but even for the working capital to keep going. That's going to be harder to come by. And the investment in real estate, which played such an important role in our modest growth of the past six years, has reached lows...
Iceland Cometh. The value of Iceland's krona has melted a bit. But if you have any cash left, there's a special being offered by IcelandAir. A round-trip ticket from Boston or New York to Reykjavik (a four-hour flight), plus three nights at the Hilton Reykjavik Nordica, Scandinanivan breakfast buffet included, costs $549. Book by Oct. 21 for travel through November...
...Macquarie's investments are much broader than infrastructure, and new CEO Nicholas Moore argues that with little exposure to Wall Street's problems and $14 billion in cash, the bank can easily refinance debts. The recent credit crunch, however, has made the market cautious. On Oct. 14 Macquarie Group's shares were trading at around $24 ($A35), two-thirds off their peak of $85 in May 2007. And Babcock & Brown had tumbled from around...
Once upon a time, the Mantra was, Get a job, maybe two, and save. Building a cash reserve was required to obtain decent credit. One's work and savings history became one's credit rating. Why should we bail out lenders unless they can perform reasonable risk assessments? Lenders once insisted that consumers demonstrate a responsible financial history before lending. What has happened to this commonsense approach? Susan Staudt, WAUKESHA...