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...altogether, a trend that is on the rise as a result of the lack of potential buyers for troubled assets and a tightening of credit offerings by banks. "The days of restructuring are gone," says Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail-consulting and investment-banking firm. "No one will give you the financing." (See pictures of the global financial crisis...
...plunged 14% in the third quarter. "In their case it might be an overexpansion problem as they got into men's and children's clothing and then made the acquisition of J.Jill, which wasn't smart," says Neil Stern, senior partner at McMillan Doolittle, a Chicago-based retail-consulting firm. That half-billion-dollar acquisition is currently up for sale, but no one is biting. Meanwhile, outdoor-apparel shop Eddie Bauer emerged from bankruptcy in June 2005 with a $450 million bank loan, which left it highly leveraged and low on cash. "While their same-store sales are down only...
...addition to her post-graduation work as an analyst at a New York-based investment firm, Sprague began to participate in marathons, and what began as a curious mingling of travel and running turned into a personal mission to run a marathon on all seven continents...
...Stone, a managing director at D.E. Shaw, said in a statement that while the firm was sorry to lose Summers, “we’re confident that the nation will benefit greatly from his economic leadership during a time when his formidable problem-solving skills are especially needed...
...pair also did some barking at each other. Merkel flatly rejected her host's urgings that Germany go beyond the $41 billion in economic spending that Berlin has promised for the next two years. Sarkozy pointedly contrasted Merkel's stand-firm position with his own plans to continue deploying new funds to fight recession. "France is working on it," Sarkozy said of further stimulus spending. "Germany is thinking about...