Word: firming
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...people who run Microsoft, especially Steve Ballmer who has been at the firm for 30 years, there is a certain amount of humiliation that goes along with no longer being the world's fastest growing global enterprise. But, Microsoft's fate was unavoidable once it started to have a 90% market share in a number of its core businesses. There are, essentially, no more worlds to conquer...
...pushed Lewis to betray a trust to his shareholders, his customers, and his employees. Bank of America has been on many of the lists of mortally ill banks which may have to be broken up or nationalized since the Merrill buyout. This, in and of itself, has cost the firm's shareholders billions of dollars. If B of A had walked away from Merrill and its problems, the bank would almost certainly have been considered a relatively safe operation which would not require government intervention to survive. (See pictures of America's devastated retail landscape...
...suffer huge fourth quarter losses, it might have faced a fate like that of the departed Lehman. Morgan Stanley (MS) nearly had the same set of problems until the Japanese financial house Mitsubishi UFJ agreed to honor a commitment to put $9 billion into the U.S. investment firm. Whether their presumption was right or not, it appears that Paulson and Bernanke believed that a failure at Merrill could have been an event worse than the banking catastrophes of the 1930s. This will remain an unanswered question. Would the common equity value of America's largest financial firms have gone...
...Because of the service it provides, Harvard should think of itself more like a government than an individual or a business firm. With its reputation and available funds, the university is not going anywhere, but delaying improvements will have dismal effects on future endowment performance. The current global economic crisis is being fought by governments from South Africa to Japan with counter-cyclical measures that attempt to hasten the move from recession to growth. The now-revived Keynesian approach justifies the deep temporary deficits with the promise of future growth. The same applies to Harvard, for the endowment will continue...
...relationships were deceptive and that he had an “outside legal opinion [on netting], which he declined to share.” But the story cited two former high-ranking IRS officials who disputed Meyer’s interpretation of netting, as well as concerns from accounting firm PricewaterhouseCoopers that caused one firm to report their fees in full instead...