Entries from Chemicals & The Economy tagged with 'debt'
California seals deal on $26bn deficit
California's Governor, Arnold Schwarzenegger, has now made a provisional agreement to reduce the State's soaring budget deficit. Its main features are a $9bn temporary cut in the education budget, plus multi-$bn cuts in welfare and health programmes. The only good...
California hands out IOUs instead of cash
Source: Wall Street Journal Everybody's favourite Christmas film is 'Its a Wonderful Life', in which the hero rescues a failing US bank during the Depression. But until today, the blog had never realised that a major role model for the...
TOTAL focus on lower debt, higher oil prices
TOTAL have adopted a very clear strategy for surviving the downturn. The results statement today particularly highlights their success in strengthening their balance sheet. Net debt to equity now stands at just 15.4%, whilst they are "maintaining a high-level of...
S&P warns on debt-laden companies
Ratings agencies Moody’s and S&P started taking a heavy line with Sabic in December over the supposed decline in the business environment at Sabic Innovative Plastics (the former GE Plastics business). This caused me to speculate that they were preparing...
Policymakers turn more downbeat
There has been a noted change of tone from leading policymakers in the past few days. Gone is the jaunty confidence that the world economy is ‘fundamentally sound’. This has been replaced by a sense that debt market problems may...
Leverage and bad debts
Some 20 years ago, after a couple of senior management jobs, I was sent off to study for a month at the IMD business school in Switzerland. There I spent time with Prof Jim Ellert, a noted financial analyst, who...
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