Word: unwound
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...discovered, in economic parlance - on the futures exchange. In late June and early July, speculators in oil futures battled one another, suspecting that a top was near. In the ensuing weeks, oil would come crashing down to earth as traders everywhere - including hedge funds, banks and pension funds - unwound their positions. And as SemGroup demonstrated, getting the timing wrong on this great unwind can have catastrophic results. (Read "Iraq's Pain at the Pump...
...those ratios are being unwound with a vengeance. In interviews, Wall Street executives, like John Mack, CEO of Morgan Stanley, talk of reducing their leverage to a ratio of 12 to 1 - a regulatory requirement, now that both Morgan and Goldman have turned themselves into commercial rather than investment banks - as if there were some button they could push to make it happen. But the truth is that for U.S. banks, reducing their use of debt and rebuilding their devastated balance sheets is a long and painful process. Deleveraging is part of what creates a credit crunch: institutions that have...
...wiping out the bank's cash reserves. Leeson was arrested after an international manhunt, and spent more than three years in a Singapore jail. By contrast, Société Générale executives simply suspended Kerviel - perhaps to avoid panic selling. Executives then quietly unwound his disastrous transactions on the financial markets over the course of three days - so helping to send markets plummeting around the world...
...remains to be seen whether this round of dealmaking will be more successful than the last one, when many firms got caught up in merger frenzy and ended up overpaying for sometimes dubious assets. Several of Europe's biggest companies succumbed, including German automaker DaimlerChrysler, which only recently unwound a costly investment in Japan's Mitsubishi Motors, and France's Vivendi Universal, which briefly teetered close to bankruptcy in 2002 after a huge acquisition binge by its former ceo Jean-Marie Messier. Morgan Stanley's Pereira contends that the latest activity is fundamentally different. "A lot of M&A then...
...heretofore unheralded first baseman, Wheeler unwound on a high fastball from Faiola in the second inning with two runners on, launching the ball miles high over the left-field wall and tying the game...