Word: mutually
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Dates: during 2000-2009
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...that use only stock for acquisitions have had that currency devalued. This leaves the raiders to rule, and they're suddenly finding they have renewed access to a crucial financing source--junk bonds. That well went dry as investors funneled their money into stocks in recent years. Junk-bond mutual funds suffered net outflows of $10 billion last year. But since Jan. 1, junk funds have had net inflows of $3 billion, according to AMG Data, bringing them to an aggregate total of $87 billion...
...buyout game is more complicated today. The typical LBO has three layers of financing--equity (put up by the buyer), senior debt (borrowed from a bank), and junior debt, or junk bonds (most often provided by junk-bond mutual funds). Banks are reluctant to lend for speculative buyouts with the economy slowing, though the Fed's rate cuts are easing that condition...
...young Crosby, Giddins argues convincingly, was a major musical innovator who all but single-handedly created the modern manner of microphone-assisted singing that dominates pop to this day. He roomed with Bix Beiderbecke, recorded St. Louis Blues with Duke Ellington and formed a mutual-admiration society with Louis Armstrong (Louis taught Bing how to scat; Bing taught Louis how to croon...
KNOW NEW TAXES Whenever you pick a mutual fund, don't forget you are trying to make money for Uncle Sam as well as yourself. Starting April 16, the Securities and Exchange Commission will require managers to disclose up front a fund's expected tax bite over one-, five- and 10-year periods. The sums will be calculated for the top bracket, 39.6%. Taxes account for an average 2.5% charge on fund returns overall--some more than...
...understandable; after all, the RPF was founded because the previous regime would not allow these exiles, mostly Tutsi expelled at the time of independence, to return. Moreover, much of the old elite either perished in the genocide or had been involved in perpetrating it. Yet the tension, suspicion and mutual alienation between ordinary Rwandans and returnees is very real, putting the RPF at risk of being cast as conquerors rather than liberators and undercutting the legitimacy they accrued in stopping the genocide...