Word: crediteers
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...Washington Recipe for a Credit Rescue...
...business, closing 155 stores by the end of the year in an effort to emerge as a leaner operation. The other three plan to liquidate altogether, a trend that is on the rise as a result of the lack of potential buyers for troubled assets and a tightening of credit offerings by banks. "The days of restructuring are gone," says Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail-consulting and investment-banking firm. "No one will give you the financing." (See pictures of the global financial crisis...
...mountain of debt resulting from its $1 billion buyout of 142 stores from Saks two years ago. Even powerhouse Dillard's, with stores spread across 29 states, is raising anxiety owing to weakening sales, down 10% for the quarter. In early November, Standard & Poor's lowered its corporate credit rating of Dillard's to B+ from BB-, citing the "deepening spending pull-back by consumers." Adding to the drama, hedge-fund investors Barington Capital Group LP and Clinton Group Inc. called for William Dillard II, the chain's CEO, to step down amid declining revenue and a stock price that...
...Kramer stayed in New England into young adulthood and went from college to college: first the University of Massachusetts, then Colby College, and then Boston University, all while taking Harvard summer school classes for credit. He eventually graduated with a degree in Philosophy and Psychology from...
...solution. In addition, much of East Africa has a suitable climate for jatropha and sugarcane, crops that produce bio-diesel and ethanol. And the good news continues for Africa, because with foreign investment comes capital and the opportunity for job creation and poverty reduction. Farmers may gain access to credit and better technology for their own production, while Tanzania gains political leverage as a global energy supplier...