Word: deal
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These railroads were worth more alive than dead, so inventive people figured out ways to reorganize them rather than shut them down. "The investment banks and lawyers and managers would negotiate a deal and get the courts to bless it," says David Skeel, a law professor at the University of Pennsylvania and author of Debt's Dominion: A History of Bankruptcy Law in America. "It was a very flexible reorganization process." It was also a uniquely American answer to business failure. The private sector took the lead. Reinvention--and rebirth--was the goal. (See pictures of the global financial crisis...
Here's how worried consumers are this year: retailers have already started promoting what would have usually been their best holiday deals--and have been greeted with collective indifference. The response: Is that all you've got? "The deals aren't that amazing, and the Best Buy circular in particular was so disappointing," says Jon Vincent, founder of BlackFriday.info, an online deal site. "Shoppers expected a lot more with the economy hurting...
SARAH PALIN to get $7 million book deal. Copy editors to demand half...
...students in particular is unhealthy and that the current drinking age encourages dangerous “binge drinking,” since underage drinkers—unable to drink at bars, restaurants, and many other places—have an incentive to drink hard liquor and consume a great deal of alcohol at once rather than spread out their consumption. Places with the most supervision and thus the safest drinking environments are the least likely to allow underage drinking. The result is that students who drink in their dorm room or off-campus?...
...that American companies should be as transparent as possible, but there are practical administrative problems that are tough to overcome, and a perfect solution is extraordinarily difficult. “All we have to do is to tell the banks that ‘You can’t deal with these countries that did not sign this global contract that promises financial transparency,’” Stiglitz said, “but it is not as easy as it sounds.” The panel concluded that in order to regain foreign countries’ trust...