Word: chaptered
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...lethal combination of mismanagement, overexpansion and economic gloom is driving the boom in retail liquidations. During better days, a company could file for Chapter 11 bankruptcy, and the banks would finance its operations until the shops could restructure. These so-called debtor-in-possession, or DIP, loans kept the company operating. In the early 1990s, for example, Macy's spent nearly two years in Chapter 11. Today, banks aren't keen to lend to anyone, least of all a retailer in miserable shape. (See the worst business deals...
Plus, amendments to the bankruptcy code, put in place in 2005, create another hurdle for distressed retailers. Under the new rules, a retailer now has only 210 days after filing for Chapter 11 to accept or reject its existing lease agreements (pre-2005, the companies could liberally extend a 60-day time limitation). Clearance sales typically give the bankrupt company a cash infusion to help pay off the DIP loans. But if a company can't reorganize in 210 days, and is forced to cancel its leases, it won't have a place to sell its goods. No sale means...
...digitally into other forms. Devices like the Sony Reader and Amazon's Kindle have gained devoted followings. Google has scanned more than 7 million books into its online database; the plan is to scan them all, every single one, within 10 years. Writers podcast their books and post them, chapter by chapter, on blogs. Four of the five best-selling novels in Japan in 2007 belonged to an entirely new literary form called keitai shosetsu: novels written, and read, on cell phones. Compared with the time and cost of replicating a digital file and shipping it around the world...
...Walter Lippmann famously wrote that "foreign policy consists in bringing into balance, with a comfortable surplus of power in reserve, the nation's commitments and the nation's power." By that standard, U.S. foreign policy is in Chapter 9. No matter what grand visions Obama may harbor to remake the world, the central mission of his foreign policy--at least at first--will be to get it out of the red. Call it the solvency doctrine...
...always felt politics would be just a chapter of my life, not my life," Bush told me. He may be content to leave his legacy to history, but if Hoover, Carter and his father are any guides, using his platform to do great and lasting good for a cause he cares about may do as much for his image as any future historian with a polishing cloth...