Word: firming
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...have our first big-game catch of the 2007 housing slump and credit crunch. On Oct. 30, Stan O'Neal resigned his post as CEO of Merrill Lynch after reporting that his firm would suffer a $7.9 billion hit to the value of its assets because of bad bets on mortgage-related securities. O'Neal personally took blame for Merrill's forceful push into complex instruments designed to distribute the risk of a surging subprime-mortgage market--the ones now imploding as home prices flatline and defaults spike...
...respected Lucom pal who requested anonymity because he's also an Arias-family friend. Infante calls Lehman's charges that he's trying to buy a favorable ruling "slanderous" and accuses Lehman of conflicts of interest, like not initially disclosing a $500,000 debt he owes a Lucom firm...
...knew O’Neal seemed surprised by the characterization of O’Neal as a loner in media reports since his ouster. The New York Times described O’Neal as “an aloof, calculating man who during his 20 years at the firm has made few friends...
...harbor - three support tankers and a scouting boat - "the ghost ships." Once part of the James River Reserve Fleet standing ready to respond to a national emergency, the 12,000-ton behemoths were decommissioned in the 1980s and 1990s and tugged across the Atlantic after a Hartlepool ship-breaking firm, Able UK, won the contract to recycle their steel, promising to create 1,500 jobs...
...advisory in March this year encouraging ship recycling in the UK - citing concerns that the work would otherwise go to unregulated docks in the developing world - that the council relented. In late October, it granted Able UK permission to recycle the ships, but the delay has cost the firm a contract for a further nine James River Fleet vessels, and Friends of the Earth is considering appealing the decision on the remaining four...