Word: crediteers
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...They're very different. The dotcom bubble was business models that were too good to be true, followed by valuations imploding. That had nothing to do with liquidity and credit. I hate to use the "G" word - but a lot of greed was involved in the IPOs those days. And the impact on our business -technology - was profound in the sense that a lot of those businesses that went away bought a lot of our products. Not just Herman Miller chairs, but also racks of servers and laptops and stuff. For a long time, throughout most of 2001, you could...
...gloom and doom, however. The United Arab Emirates, a federation that includes Dubai and six other states, has made $33 billion available to banks to calm the nerves of U.A.E. depositors and investors. And if the credit crunch shakes out property speculators and slows Dubai's growth to a more sustainable level, it should have the added benefit of taming inflation. "I am not necessarily thinking we are in a crash scenario," says EFG-Hermes managing director Hashem Montasser. "The economic situation is still very sound. [But] we will see a deceleration of prices, and it's probably a good...
...food inflation then in the double digits, the company's timing couldn't have been better. Aldi was one of the first so-called box stores, achieving rock-bottom pricing by offering a limited inventory and squeezing out all unnecessary costs, from in-store butchers to fancy displays. No credit cards or checks are accepted. And at any given time, there are no more than five staffers inside an Aldi store. For instance, during Chernova's recent trip in Chicago, there were just two cashiers, an employee replenishing milk shelves and a security guard greeting customers. Even using a shopping...
Dubai officials insist that they can meet their debt obligations for the next two years. But the credit squeeze clearly compounds some growing challenges to Dubai's revenue streams. The most obvious of these is the plummeting price of oil, from $147 to less than $65 per bbl. since July, rendering regional investors increasingly cautious as they dial down their expectations of untold wealth. And a global recession is likely to tighten the belts of the foreign investors and vacationers who have driven demand for Dubai's real estate and tourism developments...
...Perhaps of greater concern to Trump is whether even his famous bravado can carry off a $1 billion-plus development at a time of anemic institutional lending. Trump says he has the cash to build it, but he has already seen other ambitious projects crunched by the credit crisis: according to the Philadelphia Inquirer, his company recently announced the postponement of construction of the $300-million Trump Tower Philadelphia. Scottish conservationists may yet take heart: if there's anything more delicate or unstable than their beloved sand dunes, it's the current global economy...