Every financial bubble has its popular phrases, initialisms and acronyms. In the 1980s they were junk bonds and LBOs. The most recent bubble offered CDOs, Option ARMS, Structured Notes and a virtual lexicon of complex and convoluted financing. Though it all started to fray early in 2008, the Sept. 15 bankruptcy filing by Lehman Brothers began a new, far more frightening chapter. Today the Lehman Brothers building in Manhattan carries the name of Britain’s Barclays bank, the stock market is [...]
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A year ago today, the venerable investment-banking firm Lehman Brothers filed for bankruptcy protection after the Federal Reserve and the Treasury Department pointedly refused to bail the company out, and no other Wall Street outfit was willing to step into the breach. It was the largest bankruptcy ever in the U.S., but the really big news was what happened afterward. First came a financial panic that threatened to shatter the global capitalist order, then came an unprecedented, and unprecedentedly expensive, [...]
Categories: Business
Who Was There: Blizzard Entertainment cofounder and executive vice president of product development Frank Pearce and production director J. Allen Brack opened Thursday’s schedule of panels with a keynote address titled “The Universe of World of Warcraft.”
What They Talked About: In the GDC Austin schedule, Pearce and Brack’s keynote address is described as offering “an in-depth at the operational complexities of running a large-scale MMO.” While there has been no shortage of people to talk about the difficulties of developing [...]
The German sportswear companies Puma and Adidas are to end a feud started 60 years ago by their founding brothers.
Adi and Rudolf Dassler started making sports shoes together in their mother’s wash-room in the 1920s.
They fell out during World War II, probably over political differences, and founded firms on either side of a river in southern Germany.
On Monday 21 September, employees of both companies will shake hands and then play a football match.
It is a big deal in the cobblestoned [...]
Categories: Business
