Word: worthlessness
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First, the fragility. Allowing Lehman to fail - cited often as the government's biggest boo-boo - started a chain reaction. There was a run on money-market funds after one big money-market fund revealed that it owned a lot of suddenly worthless Lehman debt. London-based hedge funds that relied on Lehman for day-to-day financing found themselves unable to do business because their accounts with Lehman's U.K. subsidiary were frozen. Similar dislocations played out around the world. Before long, financial institutions were paralyzed by fear. They simply didn't trust each other anymore, and didn...
...When workers own their own companies, they have an obvious incentive to protect their own salaries and benefits and to create a friendly work environment. But they also have an incentive to protect the profits and overall success of their employers. After all, ownership in a bankrupt firm is worthless. Thus, worker ownership results in firms where the needs of workers come first, but where necessary cutbacks can be achieved as well...
...five executives who vet business ideas pitched by would-be entrepreneurs. O'Leary often delivers the harshest of the business critiques. On a recent show, he called one small-business owner "radioactive." On another show he told a woman who said her products spread happiness that her business was worthless...
...proof we're ready to go all the way," New Fabris employee Daniel Thébault told French news channel i-Télé as he motioned to several heaps of charred metal outside the main building. "We're not going to simply be discarded like worthless objects." (See the worst cars of all time...
...Worthless is precisely what the entire New Fabris plant will be become, warn the firm's 336 former employees, if their demands aren't met by July 31. Dozens of gas canisters have been strung around the factory in the central town of Châtellerault, and fears are rising that, with nothing to lose, the thwarted workers might actually explode them. "If we don't get what we're asking for, there will be nothing left of the factory for them to recover," say Guy Eyermann, a New Fabris staffer and delegate of the General Confederation of Labor union...