Word: classical
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...into debt-ridden, unprofitable firms to keep them afloat. These companies came to be known as zombie firms - they appeared to be living but were actually dead, too burdened by debt to do much more than live off further handouts. One economist called Japan a "loser's paradise." The classic zombie was retail chain Daiei, which limped along for years, crushed by debt and multibillion-dollar losses, as banks kept bailing out the firm. Daiei, with nearly 100,000 employees at the time, was considered by politicians too big to fail. It was only after Japan began solving its zombie...
...contests. Finelli led the team with 13 points and eight rebounds. Emma Markley’s six-point night ended her streak of double-digit scoring at 10 games. The Crimson will stay on the West Coast through the weekend to compete in the Women of Troy Basketball Classic at the University of Southern California. Harvard will take on Siena Friday evening and the host Trojans on Sunday. Tip-off for both contests is scheduled for 7:45 p.m. Eastern Time...
...growing disappointment and disgust with Bush's disastrous presidency, except to be convinced that he is the worst President in my 72-year-long lifetime, if not in the entire history of our country. That's why I really appreciated Klein's "The Lamest Duck." It is a truly classic piece of writing, explaining graphically how so many of us feel. David B. Lantz, Fenton, Mich...
...brutalized have been rubber-shoe maker Crocs (down 96%, to $1.52), bookseller Borders (down 93%, to $0.71), home furnisher Pier 1 Imports (down 90%, to $0.51) and casual eatery Ruby Tuesday (down 86%, to $1.38). But there have been standouts too. Some are thrift-conscious companies that make for classic recession plays: Dollar Tree (up 61%, to $41.61), 99 Cents Only Stores (up 39%, to $11.05), Family Dollar (up 27%, to $24.51) and Wal-Mart (up 15%, to $54.63). Others, though, are less predictable, including shoe chain Finish Line (up 134%, to $5.66), teen clothier Hot Topic...
...satisfied investor" as conceding, "Even knowledgeable people can't really tell you what he's doing." But for investors pocketing windfalls, the lure of easy money outstripped suspicions raised by Madoff's shroud of secrecy. When that shroud was lifted, however, Madoff's investment fund stood revealed as a classic Ponzi scheme: a con game in which the illusion of solvency was created by paying off early investors with capital raised from later entrants. As long as new investment continued to come in the door, the earlier adopters reaped fat rewards; once markets tumbled and investors withdrew, however, the whole...