Word: loaning
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...presiding as chairman for 40 years, the company peaked in the mid-'90s with sales of $150 million and its stock price at $25. By mid-2003, Barry had lost $20 million, sales were plummeting, its stock was at $2.08, and it was in default on a $10 million loan from its longtime lender, Huntington National Bank of Columbus, Ohio. The Dearfoams maker was out of both money and time. The bank ordered, Get a turnaround artist--fast...
...state in which Vidarbha sits, almost six in 10 of those who kill themselves have debts of between $110 and $550. Many farmers complain that banks don't offer them credit, forcing them to turn to rapacious moneylenders, who typically charge up to 20% interest on a four-month loan. As collateral, explains one lender in the bustling town of Pandharkawada, farmers often sign away title to their land. "If they pay back the loan, we give them back their deed," says the lender, who called himself "Ratanbhai" but refused to give his full name because of a recent government...
...fortune considering he made just a few hundred dollars a year. "I told him it was not affordable, not needed," says his father Vijay. "He said he needed it to get to the fields. The young these days-they want more luxuries with less tension." Pravin had taken a loan from a local banking cooperative for the motorbike, and further loans from moneylenders to buy seeds, fertilizer and pesticide. But like most rural Indian men, conservative and proud, he had not discussed his worries with his wife. "He was smiling all the time," says Smita. Yet Pravin owed at least...
MARGARET SPELLINGS, Secretary of Education, referring to a comment by New York attorney general Andrew Cuomo, who said the department had been "asleep at the switch" when it came to overseeing the student-loan industry...
Harvard’s tax returns reveal new information about former President Lawrence H. Summers’ severance package, which included a $1 million deferred-interest loan for the purchase of a home.The former president drew a $580,115 salary in fiscal year 2006, his last year in office. With expense-account payments, allowances, and benefits, Summers’ compensation summed to $714,005, according to filings released yesterday.Summers’ 2006 salary rose 3.1 percent from the previous year. His 2005 compensation was the second-lowest among Ivy League presidents, according to a database maintained by the Chronicle...