Word: selle
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...publishing house, Atlantic Books. The mood at the table was one of ecstatic disbelief. Toby Mundy, chairman of Atlantic, told me: "I'm completely gobsmacked. I'm completely nonplussed." To Mundy, this was not just a literary triumph but a commercial one. He reckons the book could now sell as many as a million copies worldwide, including 500,000 in the U.K. alone. Such is the financial power of the Booker Prize, Britain's most prestigious literary award...
...really unraveled in the past month or so, as investment banks, feeling a capital pinch, started to require that hedge funds pay back their loans. The funds typically borrow money to buy stocks or bet against them in order to increase their returns. Hedge funds were then forced to sell their positions, often at a loss, in order to pay back what was owed. What's more, many investors began getting nervous and pulling their money out of the funds. Those redemptions have forced managers to sell as well...
...that boom has come to a halt. On Oct. 13 Opel suspended production at Eisenach for three weeks to help sell off a stockpile of excess cars, hundreds of which crowd a parking lot inside the factory complex. Opel electrician Katrin Huber, 29, isn't happy about this vacation. "The plant shutdown is going to cost me more than $400," she says. "But worse is that we just don't know what the future holds. I'm afraid that the plant could close...
...concentration of brick works in Europe. But right now, La Sagra's factories aren't making much of anything. "The warehouses are full," says Carlos Duque, general secretary for the Castilla-La Mancha branch of MCA-UGT, the construction workers' trade union. "They just don't have anyone to sell...
...plan calls for Treasury to inject billions of dollars into the banking system. Paulson is requiring the nine biggest lenders in the country - including Bank of America, Citigroup and JPMorgan - to sell $125 billion of preferred shares to the taxpayer and to commit in return to lending out much of that money. That should have an immediate effect in reviving the lending business. Treasury is making another $125 billion available to smaller banks on the same terms...