Word: defaulted
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Dates: during 1990-1999
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...generation, it needs to set its sights on the neediest cases. Otherwise, the Social Security fund will be bankrupt before this generation gets to collect. People in the work force will more than make up their Social Security with private savings--an asset on which the government can't default...
...holders around the country had more than the Orange County disaster to worry about. Greenspan's strong hint last week that the Federal Reserve will continue to push up interest rates heightened worries that more governments with overleveraged portfolios heavily based on interest-rate bets could be forced to default. Already this year, derivatives have produced a bitter legacy: such disparate groups as the State of Florida, the University of Minnesota and a Shoshone Indian tribe have reported financial hits from these risky securities. "I think there will be more ((crises)) coming through the pipeline," asserts Dick Larkin, who heads...
Students hesitate to say whether the mass movement into consulting reflects a general weakness in liberal arts education. But even if so many students are interested in consulting out of default, Cosentino says this is not a big problem...
...Sony's disaster drew the harshest verdicts, other Japanese giants have been proving recently that their American investments have suffered from bad oversight, bad calls and bad timing. Last week Mitsubishi, which has an 80% stake in the Rockefeller Group, owner of New York's Rockefeller Center, threatened to default on its $1.3 billion mortgage, taken out five years ago when borrowing was easy. Matsushita, meanwhile, is locked in a struggle with the American executives who run MCA -- the film studio it bought for $6.1 billion in 1990 -- over the Americans' demand for more authority and investment capital. Last week...
...company hopes to renegotiate the $1.3 billion mortgage it acquired in 1989. (That was the heady period when another Japanese firm, the Minoru Isutani Group, acquired California's famous Pebble Beach golf course for $840 million, which it sold at a 40% loss two years ago.) Mitsubishi threatened to default on its loan last week, which some analysts say was a calculated move. "They're figuring out that the way to get the banks to listen to them is to threaten bankruptcy," says a New York real estate analyst...