Word: sells
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Short sellers borrow stock and sell it, essentially betting that the price of their target company will fall before they have to replace the borrowed shares. They have been disparaged as vultures, rumor mongers, cheats and criminals. But they have not, by and large, been wrong in their choice of targets. Bear and Lehman died because they were undercapitalized. Merrill's own mismanagement helped to chase it into the arms of B of A. Yet in the case of AIG, the argument is that the company would have remained afloat had its stock price not been driven down, which triggered...
...competed to launched one headline-grabbing mega-project after another: a ski slope inside a shopping mall, luxury skyscrapers, condos on artificial islands shaped like a giant palm tree. "It was crazy," says Khan, 25, now a marketing executive for Clifton, a real estate agency in Dubai. "Projects would sell out a couple hours after opening." He used to collect checks from clients and wait in line overnight at the developers' offices like a teenager looking for rock concert tickets...
...giants Fannie Mae and Freddie Mac, hundreds of Singaporeans were taking no chances. Standing in the crowd outside AIA's offices, Karen Foo, 29, said she was only dimly aware of the underlying assets in the investment trust her insurance policy is linked to, but she was determined to sell the financial instrument at the earliest opportunity. "I'm a little worried," Foo said with a tight smile...
...press release. But so far, consumers in this global market have been far from comforted. Standing in the crowd on Wednesday, Karen Foo, 29, said she was only dimly aware of the underlying assets in the investment trust her insurance policy is linked to. She was determined to sell at the earliest opportunity. "I'm a little worried," Foo said with a tight smile...
...parents of sickened babies are demanding a greater response. "Sanlu is a big company and we trusted their products. We never dreamed that they would sell something so poisonous," says a mother in Xuzhou, a town in the eastern province of Jiangsu. Her 21-month-old son, who drank Sanlu powdered milk since birth, was just diagnosed with kidney stones. "What angers me the most is that Sanlu had known about it for so long," says the mother, who would only give her surname Zeng. "When I called Sanlu, they told me, 'The country will take care...