Word: credit
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...retailers are digging in their heels, insisting they won't slash prices to 2008 levels. Last year, retailers had loaded up on goods for the holiday season but were then hit with the collapse of Lehman Brothers, upheaval in the credit markets and the AIG crisis, which sent tremors of fear far and wide. Consumer spending dried up, and shoppers abruptly disappeared. Retailers found themselves sitting on huge inventories of unsold goods, and many frantically started chopping prices to clear shelves...
...predict that private equity will go through a shakeout similar to what we've seen in the housing market. How does that analogy work? Private-equity firms used the same cheap credit that caused the housing bubble to buy companies. There are about 100 of these firms - KKR, Blackstone and Carlyle are some of the bigger ones - and they buy a company the same way we would buy a house. Put down about 20% and borrow about 80%. The big difference is, the company they're buying borrows the 80%, so they're the ones responsible for repayment. These loans...
...there anything we could do now to prevent this wave from coming? Probably not much. One of the main points of the book is to show how private equity and leveraged buyouts don't work, and even if the credit crisis I'm predicting doesn't happen - even if the economy recovers and some of the companies can refinance and push their debt off - the core practice is still destructive. Many of these companies will fall apart anyway. In the 1980s, when Michael Milken was funding buyouts, 52% of the biggest 25 companies acquired ended up going bankrupt...
...give credit to Army for playing well and really out-toughing us on their home court,” McNally continued in the text message...
...director, a veteran of Washington battles, is getting credit for beating back Blair, a retired Admiral. "Panetta showed he knows how to stamp on toes in this town," says the retired operations official. "[These] victories have reassured some of the doubters in Langley...