Word: creditors
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...leadership role in the global response to the financial crisis. Still, few analysts expect the dollar to be replaced by what Zhou Xiaochuan called a new "supersovereign reserve currency" in the foreseeable future. China, which holds nearly $2 trillion in foreign-exchange reserves, is the U.S.'s largest creditor...
...China is not only America’s largest creditor, but it is also America’s only real global competitor. American demand for Chinese goods has fueled growth in Chinese manufacturing, and Chinese savings, in turn, have enabled America to live beyond her means. Yet this symbiotic economic relationship has, until recently, only made the headlines when it’s a matter of defective toys and toxic foodstuffs. Although at earlier points in our history we woefully mistreated African Americans and Native Americans, we lecture China about its treatment of Tibet and sell arms to what...
...preparing to go through another round of layoffs. It has hopes, which are probably futile, that it can push out enough people, in addition to getting creditor concessions and supplier price cuts, to prove to Congress that it can operate at break-even. That would give it additional government funds to keep it afloat while it restructures. To reach part of its goal, the company is offering incentives which it believes will get 10,000 union members off its payroll. Bloomberg has reported that it may fire another 5,000 white collar workers...
...clear what impact Merckle's death will have on negotiations with his creditor banks. The banks say the restructuring of his assets will continue as planned...
...requires companies to fully compensate workers with all earned wages and vacation time. In a statement issued late Monday, Republic officials attributed the company's difficulties to the decline in the home construction market, which saw the company's sales plummet by 80%. Then it shifted blame to its creditor, Bank of America, which Republic said compounded the situation with its "unwillingness" to "continue funding the operations," according to the statement. Republic also said that it told Bank of America about possible WARN compliance issues in October 2008. For its part, Bank of America has simply said, "As a creditor...