for poorly performing businesses. On November 8, the company announced in a Securities and Exchange Commission (SEC) filing that it was restating its earnings since 1997 – reducing them by $586 million. On November 28, the major bond rating agencies downgraded Enron’s debt to below-investment-grade, or junk bond status. The company filed for Chapter 11 bankruptcy on December 2, 2001.
Article 1 - Thawing out
Article 2 - Property prices
It is not quite business as
usual, but firms are finding it
surprisingly easy to raise
이전과 같지는 않지만, 많은 기업들이 다시 돈을 조달하는 방법을 놀랍도록 쉽게 찾아내고 있다.
WITH its shelves laden with affordable goods, a quarter of whi
② Electricity crisis
- The California electricity crisis, also known as the Western U.S. Energy Crisis, of 2000 and 2001 was a situation where California had an artificial shortage of electricity. The state suffered from multiple large-scale black-outs, one of the state's largest energy companies collapsed, and the economic fall-out greatly harmed Governor Gray Davis's standing.