Word: shakeout
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Dates: during 2000-2009
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...dunes will reclaim the skyscrapers - are overdone. Abu Dhabi has kept Dubai afloat by snapping up $10 billion of a $20 billion Dubai bond issue. Among other things, the bailout money has helped shore up the state-owned development companies behind most of those massive building projects. Still, the shakeout is probably not over yet, according to Saud Masoud, an analyst at the Dubai office of investment bank UBS. Masoud predicts house prices could eventually fall as much as 70% from last year's highs. "You can't just put in more capital," he says, arguing that Dubai needs...
...Breaking a Habit Whatever the political shakeout, the country still needs to cope with a crisis that may be more urgent than global warming. A generation of underemployed youth has gone sour. With space a premium in Malé, most residents live with their extended families, some even sleeping in shifts; there's no privacy at home, but even less compunction to leave. In the vacuum, drugs have taken hold. An estimated 30,000 Maldivian youths are addicts, almost 10% of the country's population. "There is nothing to do here," says Ali Adib, one of the directors of Journey...
They can't hold it forever, though, and what happens next is Topic A in private-equity circles. Everybody agrees there's a shakeout on the way; at industry conferences one hears predictions that anywhere from 20% to 50% of PE firms will go out of business. There's less agreement about the survivors. Will they land back atop the financial heap and continue to steer a big part of the U.S. (and the global) economy? Will the top students at the top business schools still pine for PE jobs? Or was the PE boom just an artifact...
...market will be hard to ignore. This has led to speculation in the economics blogosphere that banks might game the program by conniving with investors to overbid for assets. That's not inconceivable, but it would be hard to pull off. Which means banks may be headed for a shakeout...
...Chrysler is forced to declare bankruptcy, Fiat would be protected from losses and might even be able to acquire American assets at favorable prices in the shakeout. A senior Fiat official calls Tuesday's signature "just a start," noting that much will depend on how the U.S. auto bailout proceeds under the new Obama Administration. "This is still far from a done deal," says the official. "We've already said that with the current situation in world markets, there needs to be major consolidation in the car business, and as we've shown today, we'd like to be part...