Word: hindsighted
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Germany has learned a second lesson; big spending packages don't work if the economic policies underlying them are miscued. In hindsight, eastern Germany's economic wellbeing was sabotaged at the very beginning of the reunification process by the political decision to exchange its currency for West German marks at the rate of one-to-one. Haimann, of the Halle Chamber of Commerce, thinks that was a crucial error. The true value of the old East German mark was just one-fourth or one-fifth of the West German currency, so when it was swapped in 1990 at parity...
...hindsight, the attempted takeover of BCE--the all-time biggest leveraged buyout in corporate history, led by the Ontario Teachers' Pension Plan, with backing from U.S. investors including Providence Equity Partners and Merrill Lynch Global Private Equity--was doomed from the moment it was signed in 2007. Less than two months later, global equity markets began to wobble, and credit got scarce. BCE's value sank from the take-out price of 34.62 a share to 16.85 on an auditor's report that debt from the proposed LBO would render the company insolvent. (Shares of BCE, with annual revenues...
...also has the acoustic edginess that hardcore music enthusiasts might overlook at first glance. “Love Song” is a jab at the corporate music industry’s request that she write a “marketable” love song (ironic in hindsight given the song’s popularity—and marketability—but bold nonetheless). She’s an incredibly talented vocalist, and she’s unapologetic about her passion: “I’ve been writing songs for as long as I can remember. Some...
...issue debt at unfavorable rates.“[There are] a lot of things they could have used the money for in an overall capital perspective,” Flahive said. “The underwriters were in a difficult environment and they did the best they could. In hindsight, everything’s 20-20.” He also said that if rates fall dramatically, the law governing tax-exempt debt financing gives issuers one opportunity to pay off their debt and reissue the bonds at the lower rate.‘THE SUMMERS SWAP’While...
...Noah M. Silver ’10 is a history concentrator in Quincy House. In his column, “Hindsight,” he will use historical analogies to examine current affairs—at both a local and national level—on alternate Wednesdays...