Word: loss
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...Liddy came to the company at a time when it was close to being scuttled by losses from credit derivatives on its balance sheet. He came to work for $1. He had only been in the job for a few months when AIG posted a loss of more than $61 billion for the last quarter of 2008. The company was well on its way to taking in $180 billion in government money. In return, taxpayers got 80% of AIG and a few promissory notes that are not worth the paper that they are written on. (See pictures of the global...
...Corus Bankshares. The Chicago regional bank has made just over $4 billion in commercial real estate loans. The recently completed government bank stress tests assumed that as many as 12% of all such loans could go bad in the next two years. So Corus is looking at a potential loss of $480 million. How much capital does Corus have to absorb those losses? Nothing. Nada. In fact, Corus is already is the hole for $9 million. Call the failure hotline; we've got a live one, just barely...
...budget cuts. In addition, the head of undergraduate advising programming, Associate Dean Monique Rinere, will leave this summer for a new post at Columbia, and her post will likely be left vacant, according to two students on the student advisory committee. The advising office faces the “loss of one assistant dean,” whose responsibilities would have included overseeing new advising programs that would cater to athletes and international students, according to the document. There is no indication from the document that a layoff will result from the elimination of the position. According to Omar...
...hard. Melco Crown Entertainment, a Nasdaq-listed joint venture between Laurence Ho (Pansy Ho's brother) and Australian billionaire James Packer, recently reported it lost $35.3 million in the first quarter, compared with a $43.2 million profit in the same period in 2008. It was the fourth straight quarterly loss for the company, which operates Macau's Altira hotel and casino...
...taken to the DEA," recalled the capo. "I greeted them and they wanted to talk. I only answered that I had no involvement in the Camarena case and I said, 'You said a madman would do it and I am not mad. I am deeply sorry for the loss of your agent...