Word: debt
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Dates: during 1980-1989
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Mexico, which ships about two-thirds of its $21 billion in export wares to U.S. markets, hopes the Washington agreement will make it easier to sell more goods to its neighbor. Stronger export sales would help finance the country's $100 billion foreign debt...
...corporate revenues have more than doubled in the past six years, to $8.8 billion. Most impressive, the airliner built its modern fleet of 683 aircraft with relatively little borrowing. Against $2.6 billion in assets at the end of last year, AMR held a modest $1.2 billion in long-term debt...
October is supposed to be the month of reckoning for the Federal Government, as a new fiscal year begins and the budget is hammered out. In the next four weeks, Congress and the Bush Administration must raise the federal debt ceiling to $3.1 trillion, find a way to reduce next year's deficit -- on paper at least -- to $110 billion, and scrounge for funds to finance the drug war, educational reform and cleanups of the HUD mess and even of the storm-ravaged South Carolina coast...
Braniff's bullish executives had hoped to find a niche for the midsize airline by developing a hub at the Kansas City airport, an opening that was created by a retrenchment at bankrupt Eastern Airlines. But Braniff's business failed to grow fast enough to support its debt payments. When a recent bridge financing deal for $75 million fell through, Braniff was strapped for cash. The bankrupt airline, which has laid off 2,800 of its 4,800 employees, hopes to rebuild slowly...
...other foreign investors are in trouble largely because they overreached. Burdened with debt, Canadian mogul Robert Campeau was forced last month to relinquish control of his retailing empire and put the 17-store Bloomingdale's chain up for sale. In August Australian raider George Herscu put his U.S. retailing subsidiary into bankruptcy after becoming overwhelmed by its $1.2 billion takeover debt. Herscu may well have to sell Bonwit Teller (stores: 16) and B. Altman (7), which he acquired...