Word: defaults
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Dates: during 1990-1999
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...most daunting news was that the company would report a loss of $310 million for 1994, stemming in large part from its troubled railcar business. That was nearly twice the deficit that Morrison Knudsen acknowledged as recently as February. To make matters worse, the firm remained in technical default on $225 million in loans from Bank of America, J.P. Morgan and other lenders. "We are beginning to seriously doubt the company's viability," says analyst Tobias Levkovich, who follows the firm for Smith Barney...
...files are harder to break into. But every time information gets sent across the wires -- like, when Anne uses Raster to do the taxes -- it can be captured and decrypted. Because, my brother, you bought the default data- security agreement with your box, and the default agreement sucks...
Investors had another worry: the threatened default of Grupo Sidek, a tourism-and-steel conglomerate, on $19.5 million of dollar-denominated debt. The company eventually decided it could pay after all and even put up $10 million more, but financiers were not totally reassured. They noted that Grupo Sidek still has an additional $100 million or so of debt coming due soon, and are concerned that if it fails to pay, other big companies will also stiff their foreign creditors. Eduardo Cabrera, a Latin American investment strategist for Merrill Lynch in New York, says that Zedillo ``should have stepped...
...Bresman says he has wound up in the government department "by default." He is still approached by undergraduates who remember from the panel...
Then things changed. In May 1993 Perez was impeached for corruption involving the misuse of public funds; he is currently on trial. In early 1993 the economy also took a sharp downturn. The crunch hit hardest at real- estate and construction companies. As they started to default, the banks attempted to compensate by offering sky-high interest rates--up to 18 percentage points above going levels--to attract new depositors and fresh funds. The most aggressive was Banco Latino. Within weeks of Banco Latino's takeover by the government, arrest warrants were issued for 82 of its directors and managers...