Word: debts
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...Given the political realities of the university, it may be tempting to just either float debt or ask for more money from the endowment. But kicking this ball down the road, either by mortgaging the university or drawing down its savings, simply leaves the problem for our successors to clean up. All of us—administrators, faculty, and students—will simply have to make do without some of what we’re used...
...firm is taking advantage of the crisis to expand into more areas of investment banking. Teevan has hired 35 people since joining Cantor, with an eye toward building out its high-yield-debt sales and trading business. Other areas Cantor is looking to for expansion include the business of offering advice to troubled companies on how to refinance their debt. The firm is also hoping to break into the business of underwriting stock and bond offerings. "I am very happy I made the move to Cantor," says Teevan. "This place has been rebuilt and it is thriving...
...becoming so desperate that it may offer a program to exchange its $28 billion in unsecured debt for equity in the company. The bondholders would not get a penny under the plan being proposed. The GM shares they would receive may be worthless in a year if the car company cannot mount a furious comeback against both the economy and more well-financed and adroit competitors from Asia. GM is so close to being put into Chapter 11, effectively at the hands of the federal government, that its offer of equity-for-debt will probably by-pass the powerful committee...
...bidding for space goes on 24/7 and 365 days a year. If financial services companies are spending 50% less on Google, then some other industries are spending much more. If car firms have withdrawn all of their advertising budgets then companies that provide help to people with too much debt must have stepped up what they spend...
...Other countries in the region are made uneasy by China's thirst for resources. Last month, the Australian government rejected a $1.8 billion bid by Chinese mining company Minmetals to acquire debt-ridden OZ Minerals, the world's second-biggest zinc miner, due to national security concerns. OZ Minerals has operations near Australia's Woomera weapons testing site...