of deregulation legislation instituted in 1996 by Governor Pete Wilson (Republican). Enron took advantage of this deregulation and was involved in economic withholding and inflated price bidding in California's spot markets. The crisis cost $40bn to $45bn.
3-(2). Another view of the reasons for bankruptcy
① Fraud of private enterprises
FTCR, Foundation for Taxpayer and Consumer Rights,
of the tourism industry (Page, 2002), but this description is insufficient in recognizing inherent qualities and attributes that support the claim that cruising is an industry in its own right.
According to Ward (2011), the cruise industry has a $15 billion turnover. It employs over 100,000 shipboard officers and crew as well as approximately 15,000 employees ashore. Indirectly, the industry pr
of 1990s
○ experienced an unprecedented
downturn under a serious
economic slump and the
foreign currency crisis occurring
in the period of 1997-1998.
Hyundai’s Take-over Of KIA
In July 1998,
the government and the creditor banks offered
a public bidding for selling out the Kia group.
At the 3rd bidding round,
it was determined in Novem
2. Bad loans by major shareholders,
an attempt to exaggerate BIS through FRNIB
what is Subordinated Bonds?
It's a bond that people returned their money lastly, when bank went broke after other general creditors get back.
implementation of Bagel Convention Ⅱ - Banks need stable ROE - Excessive issue of subordinated bonds
Especially, FRNIB granted a credit and borrowed money from centra
of Hyundai also slightly decreased as we can see right above. In conclusion, liquidity ratios consist of current ratio and quick ratio is gradually decreased so they need to raise liquidity little bit.
(3) Account receivable turnover
Account receivable turnover = Net credit sales / average accounts receivable
Year 2009 2008 2007
turnover 3.75 4.78 3.40
Account receivable turnover shows