"Since 1981, 423 U.S. companies with assets of more than $500 million filed for bankruptcy," with total assets exceeding $1.5 trillion.
http://online.wsj.com/article/SB122221497204869357.html?mod=googlenews_wsj#printMode
"Billion-Dollar Lessons" is an insightful and crisply written book, one that offers wisely chosen and well- narrated case studies but also good advice, such as urging companies to appoint an in-house "devil's advocate" to challenge the unhealthy unanimity that accompanies many major decisions.
US President George W. Bush, who is also attending the UN General Assembly, had telephoned Chinese President Hu Jintao on Monday to brief him about the financial turmoil and his administration's bid to stage a 700 billion dollar Wall Street bailout to stem the crisis.
Hu told Bush that China welcomed Washington's efforts to stabilize the US financial markets and hoped they succeed, according to Beijing's state media.
But as Wen spoke Wednesday at the United Nations, the Bush administration remained locked in a dispute with the US Congress over the massive bailout package aimed at buying distressed mortgages and mortgage-related securities from financial institutions. http://afp.google.com/article/ALeqM5icLgpv_1Z5eHh6UMqzSDY-6v8bRQ
