Word: mergers
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Dates: during 2000-2009
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...charge to capital-light banking was Bank of America (BofA). Starting in 1993, a predecessor firm became one of the first banks to develop and embrace computer models that were supposed to improve a bank's ability to determine the risk of a particular type of loan. After a merger in 1998 that formed the bank, BofA officials often argued to investors and regulators that these new advanced risk controls meant the bank needed to carry less capital per loan. The officials also frequently fought regulations that would boost capital requirements for them and other banks. In 1998, BofA asserted...
...losses forced BofA CEO Ken Lewis to ask the government for an additional $20 billion in TARP funds - on top of the $25 billion it had already received - as well as about $100 billion in loan guarantees. Without the government assistance, BofA says, it couldn't have closed the merger...
...much a name as a description. Briefly, there was some sentiment in favor of The Big One, which, at best, sounds like something on a fast-food chain's menu. Then [Kansas City Chiefs owner] Lamar Hunt got into the picture... Around the time of the merger negotiations, Hunt saw his son and daughter playing with a new ball from Wham-O that was almost impossibly bouncy. It wasn't such a leap from Super Ball to Super Bowl. Hunt brought it up at an owners' meeting, and -over Rozelle's strong objections-the name stuck...
...large number of other industries are facing similar problems. The retail industry is the most obvious. Beyond that, airlines are back in trouble. All of the merger plans that carriers were looking at last summer can be dusted off. Traffic is falling sharply as consumers and businesses cut back on travel. In a related sector, the hospitality industry is in it worst period in decades. Some hotels are nearly empty...
...merger of two of The Big Three is still on the table. The government may even force it as part of an aid package. Auto parts suppliers are in such bad sharp that some will go into Chapter 11 or outright liquidations before the middle of the year...