Word: booming
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...deal was even less popular when Abbey's new CEO António Horta-Osório slammed the brakes on new mortgage lending in 2006, right in the middle of a housing boom. But Horta-Osório looked prescient when U.K. banks such as Alliance & Leicester and Bradford & Bingley kept on lending and then found themselves in crisis when the market crashed. Santander bought them both - in B&B's case, it was only the deposits and branches - for about one-fifth of what it had paid for Abbey. (Read: "U.K. Acts to Stem Bank Panic...
Nonetheless, even if foreigner investors' role in America's credit boom and bust is debatable, what's beyond doubt is that this aspect of the crisis is not getting as much attention as, say, bankers and their bonuses. On Thursday, the Financial Crisis Inquiry Commission wrapped up its second day of hearings. Global imbalances is one of the 22 areas that the panel is supposed to investigate as a possible cause of the credit crunch. But in two days of hearings, which included testimony from top financial executives, economists, analysts, regulators and a hedge fund manager, there wasn...
...Industry and the accounting and consulting firm KPMG. In the past, American studios operating from the Bollywood capital of Mumbai were limited by relatively few outlets; in 2005, there were only 13,000 single-screen cinemas in a country with 1.2 billion people. But India's real estate boom and 9% economic growth rate (it has now backed down to 7%) helped usher in a herd of multiplexes - and new profits for U.S. players. American studios now estimate that 65% of their earnings come from screenings at multiplexes. Hollywood films, which only cashed in on 1% of the total Indian...
...stay optimistic about business and companies' abilities to change with record-high unemployment? We tend to get faked out sometimes by the particular moment that we're living in, whether it's a boom or a bust. If you take three steps backward, you'll realize that the trajectory of things is generally positive. It's not in one smooth upward slope. It involves some pain along the way. But in general, the future is better than the past...
...Read "India Inc.: Bombay's Boom...