Word: underlying
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Dates: during 1990-1990
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For companies that fail to get a handle on their onerous debt, bankruptcy looms. Once a shameful solution, even Chapter 11 is growing in appeal as other options disappear. For one thing, it allows indebted companies to keep operating while they reorganize. The newly revised tax law could add significantly...
Some business leaders believe that debt, in moderation, can have a positive influence. According to the so-called creative theory of debt, the discipline of working under leverage inspires managers to work harder and be more innovative. Says Robert Amman, chief executive of Western Union: "Some people thrive in a...
Under those circumstances, debt can make firms less competitive. Since RJR Nabisco's leveraged buyout in late 1988, in which the corporation assumed some $25 billion in debt, the company has lost market share to rival Philip Morris because RJR's management is so absorbed with managing the huge LBO...
One hallmark of the new, tougher Bush may be that he will begin reaching outside the White House for political advice from the team of savvy, experienced advisers that helped him win in 1988. Despite the respect and gratitude Bush feels for his combative and often insensitive chief of staff...
Commercial connections with Iraq have been a source of embarrassment to some companies in Italy and the U.S., among others. Baghdad owes Italian banks < about $2.2 billion, mostly because of unauthorized loans made by the Banca Nazionale del Lavoro branch in Atlanta. That scandal, which is still under investigation in...