Word: crash
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Dates: during 2000-2009
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...sunny suburbia of the postwar era. His behavior is that of any blithe burgher: a carefree puff of his cigarette, a heavy foot on the gas pedal, an appreciative glance at a lovely lady as his car draws alongside hers. Then the scene cuts to black and...CRASH!, a sickening fusion of metal and flesh. What begins as comedy, and accelerates toward romance, explodes into heedless tragedy, into death or worse: the souring of the American Dream...
...possible that I got burned at unusually busy moments. A good friend of mine does swear by Webvan, even though she lives right next door to a supermarket. It could just be that she has a crush on the delivery guy. Whatever the reason, Webvan's near-inevitable crash and burn is clearly going to be a great loss for many folks around here, just as the untimely passing of Urbanfetch and Kozmo.com - both of which delivered videos, ice cream and munchies to your door within an hour - made a lot of us feel like wearing black. I still...
...There's no doubt that Calcutta's exchange was operating under a different set of rules in the months leading up to the crash. More than 90% of the city's brokers are descendants of Marwari traders who emigrated from Rajasthan in the 19th and early 20th centuries. Contrary to the broker communities in Bombay and elsewhere, the Marwari are a tight-knit clan, often linked by marriage. They had few qualms about trading stocks among each other on the basis of a handshake. Finance for trades could be had from a number of Marwari lenders holding small fortunes, usually...
...traced back to Parekh. In its May report, SEBI said it believes the Big Bull was using the Calcutta gray market to ramp up the prices of his stocks. If that is the case, it worked for a while. But the sky-high prices were unsustainable and came crashing down in March, bringing the whole market with them. Singhania and three other brokers who had placed orders for the Big Bull defaulted on large payments owed to the exchange, leaving it nearly unable to meet expenses. At first the crash brought grief: brokers and investors on Lyons Range crumpled...
...people in Calcutta believe the heyday of the bourse, or its roguish charm, can be restored. The city's private financiers were burned by the crash and are less willing to take risks, even for a friend. "All the trust has been lost," laments Kanta Prasad Changoiwala. Volumes on the bourse are expected to take another hit after July 2, when SEBI plans to introduce new rules?including regulated futures and options trading?aimed at controlling market hijinks. Some brokers think the Calcutta Stock Exchange may cease to exist altogether in a few months. For Changoiwala it would...