debt

Stories 121 - 140 | << Prev   Next >>

Tea Party Should Stand Alone, But Lose the Nuts

The movement is better off independent

(Newser) - Tea partiers should stay post-partisan, urges Karl Rove. Rather than align with either party the group should preserve its independence and "hold the feet of politicians in both parties to its fire," he writes in the Wall Street Journal . But, to maximize its influence on policy, the movement...

McQueen&rsquo;s Label Had $50M Debt at Suicide
McQueen’s Label Had $50M Debt at Suicide
ANALYSIS
Feb 17, 2010 9:50 PM CST

McQueen’s Label Had $50M Debt at Suicide

Recession hit fashion designer hard; outfit's future unclear

(Newser) - Designer Alexander McQueen’s fashion business was $50 million in debt at the time of his suicide last week, an analysis of the firm’s recent statements shows. The Times of London reports that the brand, founded in 2001, didn’t break even until 2007—then made a profit in...

Obama Moves Forward on Debt Commission

Names Simpson, Bowles co-chairs in spite of GOP protests

(Newser) - Ignoring GOP resistance, President Obama is moving ahead with plans for a commission to bring down the federal debt. Obama will tomorrow name Clinton White House vet Erskine Bowles and former Republican Senate Whip Alan Simpson to co-chair the panel, which will seek to knock the federal debt down from...

Record $5.4B NYC Apartment Complex Lost to Creditors

Stuyvesant Town project collapses under debt

(Newser) - The record-setting sale of a New York residential property for $5.4 billion in 2006 was a deal made at the height of the boom—and it's now a casualty of the collapsed real estate market. Tishman Speyer, the property company that bought the 56-building, 11,000-unit Peter Cooper Village...

What Rebuilding Haiti Will Mean
 What Rebuilding Haiti Will Mean 
Jan 19, 2010 4:45 AM CST

What Rebuilding Haiti Will Mean

Debt relief, housing quality, and a better government are key

(Newser) - World leaders have vowed to rebuild Haiti's infrastructure into something better than it was before; the Independent takes a look at what this would mean in practice:
  • Higher-quality housing: Haiti has no building codes; international donors should insist the new dwellings their funds build for those left homeless in the
...

Banks Probed for Betting Against Own Securities

Firms bundled bad debt then sold it short

(Newser) - Congress and financial regulators are probing several Wall Street firms for bundling bad debt, selling it to clients, and then profiting from betting that those same securities would fail, insiders say. Clients at Goldman Sachs and other firms lost billions of dollars on the mortgage-related securities as the housing market...

Ignore Dubai at Your Own Peril
  Ignore Dubai 
  at Your Own Peril  

note to investors
Dec 4, 2009 10:08 AM CST

Ignore Dubai at Your Own Peril

$30B default could still take out other economies

(Newser) - The Dubai disaster should have been a wake up call. But investors, seduced by an "extraordinarily precarious" recovery, basically ignored it and kept busy building yet another bubble, writes Sebastian Mallaby in the Washington Post . Even if Dubai, with its artificial island and indoor ski resort, is an extreme...

Crazy Loans Are Back, With a Vengeance
 Crazy Loans Are Back,
 With a Vengeance 
PIK TOGGLE, ANYONE?
Dec 2, 2009 10:16 AM CST

Crazy Loans Are Back, With a Vengeance

Companies paying debt with debt have Fed worried

(Newser) - The government's efforts to boost lending, to beat the recession, are inadvertently stimulating a return to wildly risky loans that look sound only if you're wearing rose-colored-glasses. Companies are returning to credit-bubble practices, worrying analysts, including those at the Fed. In one instrument, a "covenant lite" loan, credit is...

'Debt Bomb' Nations Could Follow Dubai Into Crisis

Investors fear emirate is canary in coal mine

(Newser) - Dubai's financial implosion could be the beginning of a fresh financial crisis as investors lose faith in the ability of heavily indebted countries to pay their bills. Analysts warn that in the worst-case scenario, the Dubai crisis could lead to mass defaults in emerging markets and even in heavily leveraged...

Crisis at Dubai Flagship Roils World Markets

In surprise, government takes over Dubai World; bank stocks pounded

(Newser) - A move today by the government of Dubai to take over its flagship company, Dubai World, caused ripples of panic throughout the region, and translated into a selloff in bank stocks in Europe and Asia. The government also aims to delay payments on $60 billion in debt, a request that...

Tribal Casino Defaults May Sink Creditors
Tribal Casino Defaults
May Sink Creditors  
whose law applies?
Nov 19, 2009 2:17 PM CST

Tribal Casino Defaults May Sink Creditors

Foxwood failure sparks debate over 'sovereign nation' status

(Newser) - As the Native American tribe that own the Foxwoods Resort Casino in Connecticut looks poised to become the biggest defaulter yet on tribal casino debt, holders of billions of dollars of tribal debt are questioning whether US laws apply to tribes operating as sovereign nations. “With casinos such as...

What Broke Celebs Can Teach Us

 What Broke 
 Celebs Can 
 Teach Us 
TIPS FOR THE MANSIONLESS
Nov 6, 2009 9:38 AM CST

What Broke Celebs Can Teach Us

Don't make the same mistakes as Nicolas Cage and Annie Leibovitz

(Newser) - Celebrities really are just like us: During these financially stressful times, they’re suffering, too. On Huffington Post, Manisha Thakor points out the takeaway from four high-profile meltdowns.
  • NBA Player Antoine Walker: Squandered away his $110 million fortune by age 33. The lesson? If you have a variable income, don’
...

Nicolas Cage Selling Vegas Mansion to Cover Debt

Actor owes IRS $6.6M, is suing former manager

(Newser) - Nicolas Cage must sell his $10 million Las Vegas mansion to help cover the $6.6 million he owes to the IRS in back taxes and penalties. The Nevada estate is just the latest property Cage has been forced to put up for sale to cover his mounting debt, and...

Leveling With Voters Could Revive GOP
Leveling With Voters Could Revive GOP
DAVID BROOKS
Oct 16, 2009 8:22 AM CDT

Leveling With Voters Could Revive GOP

Look at Britain: a tough austerity program has emboldened the right

(Newser) - The economy might be in shambles, but Republicans are offering no alternative plan to ward off mounting American debt—insisting on yet more tax cuts and refusing to cut into bloated Medicare. David Brooks suggests they take a lesson from their British cousins, the Tories, who are poised to win...

CityCenter: Las Vegas' $8.5B Stimulus Bet

Hotel-casino-condo-shopping behemoth brings 12K jobs, optimism to battered state

(Newser) - A gigantic addition to the Las Vegas Strip is a one-stop stimulus package for a city and state walloped by the recession and an $8.5 billion bet that happy days are near again. With 12,000 jobs, the CityCenter project—a kaleidoscope of condominiums, boutique hotels, shopping, and, of...

Knox Trial Is 'Poison' for All Involved

Fallout has ruined people's lives from Seattle to Perugia

(Newser) - Amanda Knox may be the one on trial for the 2007 murder of Meredith Kercher, waiting it out in a sweltering Italian prison. But as Barbie Nadeau notes in Newsweek, Knox isn’t the only one suffering: “The Knox trial is poison,” Nadeau writes. “Nearly everyone it...

Leibovitz Staves Off Foreclosure
Leibovitz
Staves Off
Foreclosure
Sep 11, 2009 2:58 PM CDT

Leibovitz Staves Off Foreclosure

Photog gets reprieve, but property, rights to work still at risk

(Newser) - Annie Leibovitz has won an extension of her outstanding $24 million debt to Arts Capital Group, the New York Times reports. The celebrity photographer bought back the rights to her homes and intellectual property—both collateral in the loan—for an undisclosed sum as part of the restructured deal. But...

Georgia Man Innocent in Trailer Slayings: Kid Brother

Cites drug dispute; 'my bro has a conscience'

(Newser) - The brother of a Georgia man charged with slaying his father and seven others in a mobile home insists that 22-year-old Guy Heinze Jr would never harm his family, and instead speculates that a drug dispute could have prompted the killings. "I know my brother didn't do this. My...

Commercial Real Estate May Set Off 2nd Crisis

Another mortgage-backed securities market gets into trouble

(Newser) - Just as the economy starts to recover, a second mortgage disaster may be looming. The commercial real estate sector is tanking, with many properties unable to generate enough cash to make mortgage payments. Lo and behold, those commercial mortgages have been sewn into securities—comparable to the packages of home...

Don't Fear Debt &mdash;Failed Reform Is Scarier
Don't Fear Debt —Failed Reform Is Scarier
OPINION
Aug 28, 2009 6:19 AM CDT

Don't Fear Debt —Failed Reform Is Scarier

Krugman: We need deficits in a recession; they 'saved the world'

(Newser) - Paul Krugman isn't surprised that the projected $9 trillion deficit over the next decade is being greeted as a sign of economic apocalypse—and that commentators think it proves health care reform should be scuppered. In fact, he writes in the New York Times, it's good to run a deficit...

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