Word: short-term
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...fraction of its assets invested in a single Georgia wind farm, which was forced to shut down for two weeks over protests that its turbines were killing large numbers of local waterfowl. The resulting revenue loss forced Pro-SWIFT to sell assets in an effort to service its maturing short-term debt. Although only $10 billion of assets were liquidated, they fetched just 60 cents per dollar of book value. J.P. Morgan, in purchasing the assets, noted that, “Our more conservative financial policy puts us at a disadvantage in buying wind-farm assets—hence...
These losses were the first in the history of the SWIFTS, and they had a powerful effect. Creditors of other SWIFTs, awakened to the risks involved, began to refuse to roll over short-term loans. This has led to further liquidations, bigger fire-sale discounts, and a cascading effect. To date, over 50 SWIFTs, representing over $700 billion in assets, have failed. Yesterday, it was reported that Berkshire-Hathaway was in discussions to acquire Magna-SWIFT’s wind-farm assets for 30 cents on the dollar...
History Department Chair Lizabeth Cohen says that graduate students in her department, too, did “incredibly well” this year, despite the tough job market. Many students were able to procure tenure-track jobs, postdoctoral fellowships, and short-term visiting lectureships, according to Cohen...
Although many students with long-term issues express discontent with UHS’ treatment system, students who have received short-term mental health treatment from UHS shower praise upon the system, particularly the accessibility of appointments and the relatively short wait times...
...been a difficult year for the University; Ultimately, however, it is not the short-term but rather the long-term consequences of budgetary pressure that should be most feared. As long as Harvard does not lose sight of its ultimate objectives during this period and continues to invest in its future and its community, the budgetary crisis will be remembered as only a temporary burden...