Word: debts
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...news up to and including the Chrysler bankruptcy was "above the fold" in many newspapers and news websites. However, the amount of debt that the creditors and government were fighting over was only $6.9 billion. There are scores of American companies with larger debt loads. (See pictures of the Top 10 scared traders...
...Bondholders who would not settle with the government and Chrysler are appropriately greedy. The money that they put into Chrysler debt came from pension funds and individual investors in many cases. It is not as if Citigroup (C) is the debtor left holding the check. Citigroup could, at least, petition the Fed to get back any money it lost on its Chrysler investment...
...government loans) for about 5% of Chrysler's stock. The UAW, on the other hand, was trading in a $4.5 billion IOU (related to its VEBA health-care trust for retirees) in return for 55% of Chrysler stock. Does that seem fair? A third group, the secured debt holders, were to trade in a $6.9 billion IOU and get $2 billion in cash - an amount that was later raised to $2.25 billion to mollify disgruntled creditors, though it still failed to win their support...
...Global Private Equity--was doomed from the moment it was signed in 2007. Less than two months later, global equity markets began to wobble, and credit got scarce. BCE's value sank from the take-out price of 34.62 a share to 16.85 on an auditor's report that debt from the proposed LBO would render the company insolvent. (Shares of BCE, with annual revenues of $14.3 billion, have since recovered to about 20 on the NYSE...
...Ambulance bill: $959. Hospital bill: $13,830. Follow-up with a personal physician and specialist: $463. Total: $15,252 for a six-hour, non-life-threatening situation that was diagnosed incorrectly in the emergency room. No wonder the country is in trouble. Frugality cannot cure this type of debt, and common situations like this one cannot be ignored. Jean Dennis, WESTMINSTER, COLO...