Word: tightened
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...vacation because no one was coming to eat," says Bonduel. "I do the cleaning myself, and we've stopped sending the tablecloths out for laundering and pressing to save money. I also had to let one of the cooks go ... We'll be fine, but we are having to tighten the screws...
...because no one was coming to eat," says Bonduel. "I do the cleaning myself, and to save money we've stopped sending the tablecloths out for laundering and pressing. I also had to let one of the cooks go ... We'll be fine, but we're having to tighten the screws...
...credit crisis is hurting even small Hong Kong businesses, according to Danny Lau, chairman of the Hong Kong Small and Medium Enterprise Association. "Bankers are tightening loans," Lau says. "That will affect most small businesses. Some of them have loans from banks in order to run their operations. Now they will have to tighten up, or they will have to contract in the future." Last week, U-Right, a clothing retailer with about 100 outlets in Hong Kong and another 500 in China, was forced to liquidate after it could not meet bank demands to repay its debts. By Sunday...
...coats for export, is in solid financial shape and will likely fare better than low-cost competitors. But securing credit remains a major problem for Hong Kong's small business community. "Right now we're facing trouble," he says. "The banks are advising us that they may have to tighten our credit. They're giving letters to warn us they may cut our credit in the future...
...whether the risk-taking, hard-charging, high-living times will give way to a quieter, duller, less profitable and far more regulated era - not so much a golden age as a golden cage. The debt-fueled days are almost certainly history, and households across the capital will have to tighten their belts and live with a lot less leverage; the banking crisis has already made it considerably harder for house buyers to get mortgages of any sort, let alone ones requiring only a tiny down payment. Jon Lloyd, joint head of LG's real estate practice, points out that...