Word: defaulting
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...Investors in junk bonds, the high-yield securities that account for $225 billion in debt, could be among the first to feel the pinch. According to a study conducted for a group of junk-bond issuers by the economic consulting firm Data Resources, 1 out of every 8 will default if the economy falls into a soft landing. A major recession could produce a 1-in-5 default rate over five years. This year some $3 billion worth of junk bonds either have defaulted or were forced into a restructuring. The failure rate is well ahead of last year, when...
About 30 percent of the projects that have received HUD funding since the program was launched in 1983 are in default, the department said. Many were built in areas where there was not a sufficient shortage in housing for the elderly to support the projects, officials added...
...Cavazos has brought a willingness to listen and a less combative tone than we've had in the past," says Wilmer Cody, Louisiana's superintendent of education. "It's a style that's needed right now." Specifically, Cavazos acted to change a much criticized policy on federal student-loan defaults, projected to reach $1.8 billion this year. Bennett had made the draconian proposal to bar all schools with default rates of 20% or higher from participating in the program, but Cavazos scrapped that plan shortly after taking office. Later this month, after reviewing public comment about the problem...
...first period, which saw Cole facing a five-point deficit, Peckham withdrew Cole to give Brown a six-point win by default...
...staff, Baker once said he didn't need to have a vision "because the guy down the hall ((Reagan)) has one. I'm more interested in the game than in philosophy." With the new guy in the Oval Office equally at sea, the matter may fall to Baker by default...