Word: yorke
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...billion in wholesale debt were converted into common shares - admittedly a pretty extreme solution - the company's balance-sheet woes would evaporate. Which is why these arguments have been gaining in popularity. "I think it's very important that the creditors in this crisis take a hit," said New York University finance professor Matthew Richardson at an NYU conference in March. "We need to try to transfer some of the risk from taxpayers to the financial system...
When you're eight months pregnant, it's hard to find a good interview suit. But a burgeoning belly didn't stop Nicole Young, 33, from hitting the job circuit this fall. Her husband, who works on the floor of the New York Stock Exchange, has seen his income shrink along with the Dow. And the consulting projects she has been doing from their home on Long Island in New York are not bringing in enough money to make up the difference. So Young, who left her full-time marketing job in 2005 when she was pregnant with their first...
...return to their free-spending ways for years. "There is good reason to believe the capitulation of the American consumer has only just begun," said economist Stephen Roach, chairman of Morgan Stanley Asia. Ajay Chhibber, director of the Asia bureau at the United Nations Development Program in New York City, says the tigers can't expect to weather this recession by temporarily increasing government spending to boost growth until Western export markets recover. "The model where you stimulate and [then] go back to the old days is gone," he says...
Bellows loved hot stories written in acrobatic prose. Only under Bellows could the Trib's Sunday supplement, New York, have turned into a showcase for the radical experiment now called the New Journalism. Bellows' Trib became the hottest newspaper in America...
Barely 40 when he edited the New York Herald Tribune, he had the posture of an 80-year-old. His body was skin and bones, nourished solely by cigarettes, cigarettes, cigarettes, as far as I could tell. Everybody said he didn't actually speak. He mumbled. In fact, that odd sound was the audible tone of the megavolt current generated by his passionate fascination with the human comedy...