Word: debt
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...approach. Botswana, after all, is a very successful country. It's a remarkable country. All these difficulties that one finds in many other countries in sub-Saharan Africa actually really don't apply so much to Botswana. Botswana is actually very peaceful. It's democratic. It never was in debt. They've been fortunate, they've had diamonds. And of course now there's a bit of difficulty with the diamond industry. So they're suffering in Botswana but not to the extent that they're suffering in many other countries in the region...
There's sad news from Detroit. Embattled Chrysler appears to have run out of rope, and has filed for bankruptcy - a course confirmed by President Obama at a Thursday press conference. The reason for the fast fall into Chapter 11 is that some of Chrysler's debt holders refused to take the cash settlement offer put together by Steve Rattner and the Automotive Task Force, the terms of which they found rather harsh...
Over at General Motors, CEO Fritz Henderson on Monday outlined a tough deal for bondholders as well, as the automaker scrambled to reduce its debt. The prospects for that deal are better than Chrysler's, but they are far from guaranteed...
...School’s mission statement charges it “to train enlightened public leaders and to generate the ideas that provide the answers to our most challenging public problems.”But as increasing numbers of graduates enter the private sector—because of debt concerns or pressure from corporate recruiting—some students have concluded the School has fallen short of its lofty aim.In 2007, 41 percent of HKS graduates entered the private sector, the highest level in over a decade, and some students say the figure reflects a failing on the part...
Recent history pitted Correa directly against the Bush Administration. The fiery economist from Guayaquil has wielded not just leftist rhetoric but also leftist policies, railing against foreign and domestic corporations. In December, he defaulted on $3.2 billion in foreign bonds, close to a third of the country's foreign debt, citing evidence that they were "illegal" and "illegitimate." "We're living a process of change that we hadn't seen before," said Fernando Cabrera, 55, a financial analyst, at Correa's victory rally in Quito. "He is breaking down archaic structures set up by the economic upper class...