Word: mayo
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Which management guru came up with the Cheese principle? Answer: Spencer Johnson, who is neither an M.B.A. nor a corporate veteran. He's an M.D. who trained at the Mayo Clinic and Harvard Medical School. He has written 10 other best-selling business books. Johnson knows that some people find his book simpleminded. "Well, I think they're right," he says earnestly from his home in Hawaii. "The irony is that I concur with what they're saying. Those who are looking for answers find the simple, memorable approach the most valuable." It is hard to argue with that...
...course, no cookbook or microwave oven is required for the most beloved leftover Thanksgiving meal of all time. Recipe: Two slices of white bread, cold turkey, and lots of mayo...
...issue with Citi is the degree to which the downtrend in its stock price affects fundamental factors, as seen with other financial firms over the past few months," Mayo wrote in the report...
...Most analysts believe Citigroup can survive its current market woes, though probably not without some changes. In a report out on Friday, Deutsche Bank analyst Mike Mayo, who has been a long-time bear on Citi, says the company has adequate capital to survive. When you factor in the $25 billion Citi got from the Treasury's Troubled Asset Relief Program, Mayo estimates the bank has as much as $100 billion in cash cushion...
...Here's the math: Citigroup has, as Mayo said, about a $100 billion equity cushion, which could be wiped out if loans go bad. At the end of the third quarter, Citigroup had $17 billion in commercial mortgage bonds. According to Barclays Capital, the average CMB price has fallen 34% since the beginning of October. So erase $5.8 billion in equity right there. Citigroup was also a player in advising private equity companies on leveraged buyouts. As part of that business it lent money to the companies in such transactions. Now many of those deals look over-leveraged and ready...