Dan North and Chris Baker will dive into the current and future state of the North American economy, how to protect your business from nonpayment, and talk about the latest industry trends in our upcoming webinar.
This document discusses the global financial crisis of the late 2000s and the aftermath. It argues that outdated models of entrepreneurship and risk-taking led to over $900 trillion in lost global assets due to greed, corruption and unethical behavior. The crisis resulted in government bailouts of the automotive and banking industries through the TARP program. While intended to prevent economic collapse, TARP created a new protected class of "too big to fail" institutions and shifted trillions in losses to taxpayers. The document alleges that major banks knowingly sold toxic assets to customers and governments while betting against those same assets through derivatives. This led to a collapse in trust and global markets.
The document discusses applying concepts of situational awareness (SA) to investing in alternative investments such as hedge funds. SA involves perceiving elements in one's environment, comprehending their meaning, and projecting their future status. The document outlines applying SA's three levels - acquiring data, evaluating the data to create an understanding, and projecting future states - to gain knowledge about macroeconomic conditions, the alternative investment industry, and individual managers. This framework can help differentiate investment choices and ensure accurate mental models are used for decision making.
This document provides a summary of the causes and effects of the credit crisis, as well as implications for the future. It discusses three primary causes: the housing bubble, credit bubble, and willful ignorance. The crisis unfolded with events like the failures of Fannie Mae, Freddie Mac, Lehman Brothers, and AIG. The economy experienced job losses, declining GDP, and falling home and auto sales. Markets saw steep declines globally in 2008. Going forward, the recovery may be slower than past recessions due to high debt levels, but stocks appear cheap compared to historical valuations and long-term returns have been positive. The biggest long-term challenges include high government debt levels and potential for further economic weakness.
The document discusses how economic headwinds, increased individual accountability, and disruptive change are converging to create risks for directors and officers (D&O) in 2016. It recommends that companies prioritize financial, executive, cyber, and professional liability insurance to protect against today's heightened exposures. Key risks mentioned include a potential economic crisis, increased regulatory enforcement against individuals, evolving cybersecurity threats, activist investors, securities litigation trends, and disruptive technologies.
The document discusses the difficult economic environment facing investors. It notes that bank loans are the most senior level of corporate capital structure and that many bankruptcies and bondholder distress are ahead. Money market funds faced dire straits after Lehman and money is still flowing to Treasury funds despite guarantees. The commercial paper market is only improving due to massive Fed purchases, propping up the market for now. Recessions have occurred regularly in the US and most early depressions were associated with financial crises.
Let's Talk About Feelings & the Economy! Final Presentation for Macro EconSummers McKay
The document discusses the economic downturn in the late 1990s and early 2000s, particularly the dot-com bubble bursting. It notes that many internet companies that had raised significant funding saw their stock prices collapse. While the rapid growth of the tech sector had boosted productivity and the economy, non-rational behavior drove parts of this process and economic models failed to capture downturns well.
American International Group, Inc., also known as AIG, is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of December 31, 2016, AIG companies employed 56,400 people.The company operates through three core businesses: General Insurance, Life & Retirement, and a standalone technology-enabled subsidiary
Lehman Brothers was a global investment bank that filed for bankruptcy in 2008 due to excessive risk taking and overexposure to subprime mortgages. Some key factors that contributed to its failure included being highly leveraged with a debt-to-equity ratio of 31 in 2007, risky investments in the housing market, weak corporate governance and oversight of risk, and a compensation system that rewarded short-term gains without accountability for losses. The bankruptcy filing had widespread global impacts, including job losses, reduced company profits, increased borrowing costs, and loss of wealth for investors.
This document discusses the global financial crisis of the late 2000s and the aftermath. It argues that outdated models of entrepreneurship and risk-taking led to over $900 trillion in lost global assets due to greed, corruption and unethical behavior. The crisis resulted in government bailouts of the automotive and banking industries through the TARP program. While intended to prevent economic collapse, TARP created a new protected class of "too big to fail" institutions and shifted trillions in losses to taxpayers. The document alleges that major banks knowingly sold toxic assets to customers and governments while betting against those same assets through derivatives. This led to a collapse in trust and global markets.
The document discusses applying concepts of situational awareness (SA) to investing in alternative investments such as hedge funds. SA involves perceiving elements in one's environment, comprehending their meaning, and projecting their future status. The document outlines applying SA's three levels - acquiring data, evaluating the data to create an understanding, and projecting future states - to gain knowledge about macroeconomic conditions, the alternative investment industry, and individual managers. This framework can help differentiate investment choices and ensure accurate mental models are used for decision making.
This document provides a summary of the causes and effects of the credit crisis, as well as implications for the future. It discusses three primary causes: the housing bubble, credit bubble, and willful ignorance. The crisis unfolded with events like the failures of Fannie Mae, Freddie Mac, Lehman Brothers, and AIG. The economy experienced job losses, declining GDP, and falling home and auto sales. Markets saw steep declines globally in 2008. Going forward, the recovery may be slower than past recessions due to high debt levels, but stocks appear cheap compared to historical valuations and long-term returns have been positive. The biggest long-term challenges include high government debt levels and potential for further economic weakness.
The document discusses how economic headwinds, increased individual accountability, and disruptive change are converging to create risks for directors and officers (D&O) in 2016. It recommends that companies prioritize financial, executive, cyber, and professional liability insurance to protect against today's heightened exposures. Key risks mentioned include a potential economic crisis, increased regulatory enforcement against individuals, evolving cybersecurity threats, activist investors, securities litigation trends, and disruptive technologies.
The document discusses the difficult economic environment facing investors. It notes that bank loans are the most senior level of corporate capital structure and that many bankruptcies and bondholder distress are ahead. Money market funds faced dire straits after Lehman and money is still flowing to Treasury funds despite guarantees. The commercial paper market is only improving due to massive Fed purchases, propping up the market for now. Recessions have occurred regularly in the US and most early depressions were associated with financial crises.
Let's Talk About Feelings & the Economy! Final Presentation for Macro EconSummers McKay
The document discusses the economic downturn in the late 1990s and early 2000s, particularly the dot-com bubble bursting. It notes that many internet companies that had raised significant funding saw their stock prices collapse. While the rapid growth of the tech sector had boosted productivity and the economy, non-rational behavior drove parts of this process and economic models failed to capture downturns well.
American International Group, Inc., also known as AIG, is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. As of December 31, 2016, AIG companies employed 56,400 people.The company operates through three core businesses: General Insurance, Life & Retirement, and a standalone technology-enabled subsidiary
Lehman Brothers was a global investment bank that filed for bankruptcy in 2008 due to excessive risk taking and overexposure to subprime mortgages. Some key factors that contributed to its failure included being highly leveraged with a debt-to-equity ratio of 31 in 2007, risky investments in the housing market, weak corporate governance and oversight of risk, and a compensation system that rewarded short-term gains without accountability for losses. The bankruptcy filing had widespread global impacts, including job losses, reduced company profits, increased borrowing costs, and loss of wealth for investors.
The debt ceiling debate is hurting the fragile housing market by increasing uncertainty and potentially driving up interest rates. If lawmakers fail to raise the debt ceiling, it could cause investors to lose faith in US Treasury bonds and mortgage-backed securities. This could lead interest rates on home loans and other products to rise, restricting buyers' ability to qualify for mortgages and further damaging the housing recovery. Top investors and business leaders are pressuring Congress to resolve the issue to avoid negatively impacting consumer confidence and the broader economy.
The document discusses the global financial crisis and its implications for developing countries. It begins by explaining the origins of the crisis in the deregulation of US financial markets and the housing bubble. It then discusses how the crisis has spread globally, affecting growth, trade, commodity prices, investment, and aid. Finally, it proposes actions from a human development perspective, including countercyclical policies, protecting education and health budgets, moderate policies from wealthy countries, and regional cooperation arrangements.
On September 15, 2008, Lehman Brothers Holdings Inc filed for bankruptcy. It filed for protection under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York. It filed with $639 billion in assets and $619 billion in debt, Lehman's bankruptcy filing was the largest in history, as its assets far surpassed those of previous bankrupt giants such as WorldCom and Enron. Lehman was the fourth-largest U.S. investment bank at the time of its collapse, with 25,000 employees worldwide.
This document discusses how times of crisis often signal structural changes in the economy. It argues we may be experiencing such a structural break now, as the past year's events have highlighted unsustainable trends like high household debt and leverage in the financial system. A structural break presents both challenges and opportunities - it can be a difficult time for adjustment, but also a time when new sources of competitive advantage can emerge for strategists able to understand and exploit the change. The key is recognizing when old patterns no longer work and focusing on strengthening one's competitive advantages for the new economic environment.
The failure of Lehman Brothers in 2008 was the largest bankruptcy in US history. A number of factors contributed to its failure, including excessive risk taking on housing assets, high leverage, and unethical actions. When housing markets declined, Lehman's vulnerable financial position was exposed and it collapsed, with global economic effects. The replacement of the Glass-Steagall Act allowed greater risk taking and conflicts of interest, which also contributed to Lehman's downfall.
Lehman Brothers and Corporate Governance failure and Corporate Governance f...Adnan Qatinah
Lehman Brothers filed for bankruptcy in September 2008 with $639 billion in assets and $619 billion in debt, marking the largest bankruptcy filing in U.S. history. The document analyzes the causes of Lehman Brothers' failure, including corporate governance failures such as weak risk management, issues with the board of directors, problematic compensation schemes, and flawed nomination committees. Technical failures and other market factors also contributed to Lehman Brothers' collapse.
This document discusses several corporate fraud cases, including Enron, Worldcom, and Parmalat. It provides details on the fraudulent accounting techniques used by Enron to inflate profits and conceal losses, such as manipulating earnings, hiding uncollectible receivables, and concealing failures in business segments. For Worldcom, it outlines how the company misstated cash flow by improperly recording expenses as capital expenditures, and overstated earnings by $7.2 billion total.
WorldCom started as a small long distance provider in 1983 and grew rapidly through acquisitions to become the second largest telecom company by 1998. However, falling revenues due to the dot-com bust and merger failures led to huge pressure to meet Wall Street expectations. WorldCom's leaders, including CEO Ebbers, resorted to fraudulent accounting by misclassifying operating expenses as capital expenditures, hiding $3.8 billion in losses. An internal audit uncovered the fraud in 2002, leading to WorldCom filing for bankruptcy, destroying $180 billion in shareholder value and costing 57,000 employees their jobs. Ebbers and other executives faced legal consequences for their role in the massive accounting scandal.
The document summarizes the collapse of Lehman Brothers investment bank in September 2008. It provides background on Lehman Brothers and explains the key reasons for its bankruptcy, including losses from subprime mortgage loans, a lack of confidence from other banks, and the refusal of potential acquirers like Barclays. The CEO's pride and refusal to sell at a lower price were also factors. The fall of Lehman Brothers and Merrill Lynch's acquisition by Bank of America shocked markets and increased uncertainty about other financial institutions like AIG and Washington Mutual. The events also increased risk perceptions in Indian markets.
Lehman Brothers filed for bankruptcy in 2008 during the global financial crisis. It was the largest bankruptcy in US history. The summary cites three key reasons for Lehman Brothers' collapse: 1) Extremely high leverage of 44 to 1 made them vulnerable to losses. 2) Lack of liquidity as confidence declined and credit was pulled. 3) Heavy losses from investments in commercial real estate and subprime mortgages amid the US housing market downturn. The bankruptcy filing significantly worsened the global financial crisis and impacted markets worldwide.
The document discusses the systemic risk posed by an AIG failure and its potential consequences. It summarizes that an AIG failure would:
1) Have devastating impacts on the global economy due to AIG's extensive business operations and interconnections.
2) Potentially trigger a "run on the bank" for AIG's $1.9 trillion in life insurance policies and cause turmoil in credit markets beyond the Lehman fallout.
3) Negatively impact the U.S. government's efforts to stabilize the economy by crushing confidence and increasing borrowing costs.
Public Engagement In The Conversation AgePiaras Kelly
This document discusses several topics related to public engagement in the conversation age, including:
1. Trust in financial institutions and governments has collapsed due to the global economic crisis, and restoring confidence and trust will be key to recovery.
2. The financial services sector has seen a significant decline in trust, particularly banks, and rebuilding trust with citizens will require adapting communications strategies to new digital channels.
3. Other industries like hedge funds and insurance have been less directly impacted but still face challenges in engaging external stakeholders and avoiding excessive regulation due to negative perceptions.
4. Public relations is evolving towards a model of public engagement that converges different communications disciplines and emphasizes constructive dialogue between citizens, businesses, and governments.
The document discusses several topics including:
1. Investment strategies that favor cash, midstream energy MLPs, metals, municipal bonds, and mutual funds focused on dividend growth companies.
2. The causes and impacts of the 2008 financial crisis, including widespread wealth destruction and the need for government intervention to stabilize financial systems.
3. Political dysfunctions that stem from dualistic thinking and an overemphasis on differences rather than a nondual approach that celebrates unity and interconnection.
The document discusses the history and underlying causes of the global financial crisis. It outlines the decades of deregulation in the US financial system since the 1980s, including the removal of restrictions on savings and loans and the repeal of Glass-Steagall. This led to excessive risk taking by financial institutions through practices like subprime lending, securitization of risky assets, and credit default swaps without adequate oversight. The crisis impacted global economies through reduced demand and interbank lending seizures. The US implemented rescue packages totaling over $1.5 trillion to stabilize financial markets and stimulate the economy.
The document provides background on the demise of Lehman Brothers during the 2008 financial crisis. It discusses several factors that contributed to Lehman Brothers' bankruptcy, including market complacency during the housing boom, homeowner speculation and deteriorating lending standards, and bad regulation. As the housing market declined and mortgage delinquencies rose, Lehman Brothers faced significant losses due to its large holdings of subprime and lower-rated mortgage-backed securities. Despite talks with potential buyers, Lehman filed for bankruptcy on September 15, 2008, deepening the financial crisis.
The document discusses global security and development challenges and the role of innovative partnerships. It outlines Johan Bergenäs' presentation on emerging adjacent markets for the aerospace, defense, and security sector, including discussions on globalization, illicit drug trafficking, piracy, weaknesses in societies, and market opportunities in the sector estimated at $200 billion currently and potentially $40 trillion over the next 25 years. The presentation proposes a hybrid framework for partnerships in today's hybrid world and managing challenges across boundaries.
Euler Hermes ACI is the largest credit insurance provider globally with over 114 years of experience. They insure over 57,000 policyholders worldwide against risks such as bankruptcy and default. Credit insurance can help businesses expand sales, gain access to financing, and protect against unexpected losses from bad debt. Euler Hermes monitors over 43 million companies and processes 25,000 credit limits daily to help clients evaluate customer credit risk.
Euler Hermes ACI is the largest credit insurance provider globally with over 114 years of experience. They insure over 57,000 policyholders worldwide against risks such as bankruptcy and default. Bankruptcies are predicted to increase sharply in 2009, demonstrating the need for credit insurance. Credit insurance protects against unexpected bad debt losses, frees up working capital, and allows companies to expand sales into riskier markets or with key accounts.
Building a Resilient Finance Function for 2023 and Beyond (Tommaso Aquilante ...Executive Leaders Network
Delivered at ELN's Finance Leaders Event on Thursday 10th November 2022.
"Find out from Dun & Bradstreet how you can proactively protect your business - and finance function - from an uncertain macro economic environment. Find out how to tackle inflationary pressures, rising energy costs, and avoid financial and cash flow concerns.
Identify supplier vulnerabilities - and take action quickly before they impact your business' bottom line."
The document discusses the 2008 financial crisis and government bailouts. It provides background on how risky mortgage lending practices led to the crisis. It describes major events like the failures of Lehman Brothers, AIG receiving an $85 billion bailout from the federal government, and the $700 billion Troubled Asset Relief Program bailout. It considers risks of the government stepping in or not stepping in during a financial crisis and notes the economy may continue to struggle even after bailouts.
Economist Intelligence Unit (EIU) white paper produced at the height of the financial crisis in January 2009 outlining the opportunities to learn from the downturn and best practice to success in a changing environment.
The debt ceiling debate is hurting the fragile housing market by increasing uncertainty and potentially driving up interest rates. If lawmakers fail to raise the debt ceiling, it could cause investors to lose faith in US Treasury bonds and mortgage-backed securities. This could lead interest rates on home loans and other products to rise, restricting buyers' ability to qualify for mortgages and further damaging the housing recovery. Top investors and business leaders are pressuring Congress to resolve the issue to avoid negatively impacting consumer confidence and the broader economy.
The document discusses the global financial crisis and its implications for developing countries. It begins by explaining the origins of the crisis in the deregulation of US financial markets and the housing bubble. It then discusses how the crisis has spread globally, affecting growth, trade, commodity prices, investment, and aid. Finally, it proposes actions from a human development perspective, including countercyclical policies, protecting education and health budgets, moderate policies from wealthy countries, and regional cooperation arrangements.
On September 15, 2008, Lehman Brothers Holdings Inc filed for bankruptcy. It filed for protection under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York. It filed with $639 billion in assets and $619 billion in debt, Lehman's bankruptcy filing was the largest in history, as its assets far surpassed those of previous bankrupt giants such as WorldCom and Enron. Lehman was the fourth-largest U.S. investment bank at the time of its collapse, with 25,000 employees worldwide.
This document discusses how times of crisis often signal structural changes in the economy. It argues we may be experiencing such a structural break now, as the past year's events have highlighted unsustainable trends like high household debt and leverage in the financial system. A structural break presents both challenges and opportunities - it can be a difficult time for adjustment, but also a time when new sources of competitive advantage can emerge for strategists able to understand and exploit the change. The key is recognizing when old patterns no longer work and focusing on strengthening one's competitive advantages for the new economic environment.
The failure of Lehman Brothers in 2008 was the largest bankruptcy in US history. A number of factors contributed to its failure, including excessive risk taking on housing assets, high leverage, and unethical actions. When housing markets declined, Lehman's vulnerable financial position was exposed and it collapsed, with global economic effects. The replacement of the Glass-Steagall Act allowed greater risk taking and conflicts of interest, which also contributed to Lehman's downfall.
Lehman Brothers and Corporate Governance failure and Corporate Governance f...Adnan Qatinah
Lehman Brothers filed for bankruptcy in September 2008 with $639 billion in assets and $619 billion in debt, marking the largest bankruptcy filing in U.S. history. The document analyzes the causes of Lehman Brothers' failure, including corporate governance failures such as weak risk management, issues with the board of directors, problematic compensation schemes, and flawed nomination committees. Technical failures and other market factors also contributed to Lehman Brothers' collapse.
This document discusses several corporate fraud cases, including Enron, Worldcom, and Parmalat. It provides details on the fraudulent accounting techniques used by Enron to inflate profits and conceal losses, such as manipulating earnings, hiding uncollectible receivables, and concealing failures in business segments. For Worldcom, it outlines how the company misstated cash flow by improperly recording expenses as capital expenditures, and overstated earnings by $7.2 billion total.
WorldCom started as a small long distance provider in 1983 and grew rapidly through acquisitions to become the second largest telecom company by 1998. However, falling revenues due to the dot-com bust and merger failures led to huge pressure to meet Wall Street expectations. WorldCom's leaders, including CEO Ebbers, resorted to fraudulent accounting by misclassifying operating expenses as capital expenditures, hiding $3.8 billion in losses. An internal audit uncovered the fraud in 2002, leading to WorldCom filing for bankruptcy, destroying $180 billion in shareholder value and costing 57,000 employees their jobs. Ebbers and other executives faced legal consequences for their role in the massive accounting scandal.
The document summarizes the collapse of Lehman Brothers investment bank in September 2008. It provides background on Lehman Brothers and explains the key reasons for its bankruptcy, including losses from subprime mortgage loans, a lack of confidence from other banks, and the refusal of potential acquirers like Barclays. The CEO's pride and refusal to sell at a lower price were also factors. The fall of Lehman Brothers and Merrill Lynch's acquisition by Bank of America shocked markets and increased uncertainty about other financial institutions like AIG and Washington Mutual. The events also increased risk perceptions in Indian markets.
Lehman Brothers filed for bankruptcy in 2008 during the global financial crisis. It was the largest bankruptcy in US history. The summary cites three key reasons for Lehman Brothers' collapse: 1) Extremely high leverage of 44 to 1 made them vulnerable to losses. 2) Lack of liquidity as confidence declined and credit was pulled. 3) Heavy losses from investments in commercial real estate and subprime mortgages amid the US housing market downturn. The bankruptcy filing significantly worsened the global financial crisis and impacted markets worldwide.
The document discusses the systemic risk posed by an AIG failure and its potential consequences. It summarizes that an AIG failure would:
1) Have devastating impacts on the global economy due to AIG's extensive business operations and interconnections.
2) Potentially trigger a "run on the bank" for AIG's $1.9 trillion in life insurance policies and cause turmoil in credit markets beyond the Lehman fallout.
3) Negatively impact the U.S. government's efforts to stabilize the economy by crushing confidence and increasing borrowing costs.
Public Engagement In The Conversation AgePiaras Kelly
This document discusses several topics related to public engagement in the conversation age, including:
1. Trust in financial institutions and governments has collapsed due to the global economic crisis, and restoring confidence and trust will be key to recovery.
2. The financial services sector has seen a significant decline in trust, particularly banks, and rebuilding trust with citizens will require adapting communications strategies to new digital channels.
3. Other industries like hedge funds and insurance have been less directly impacted but still face challenges in engaging external stakeholders and avoiding excessive regulation due to negative perceptions.
4. Public relations is evolving towards a model of public engagement that converges different communications disciplines and emphasizes constructive dialogue between citizens, businesses, and governments.
The document discusses several topics including:
1. Investment strategies that favor cash, midstream energy MLPs, metals, municipal bonds, and mutual funds focused on dividend growth companies.
2. The causes and impacts of the 2008 financial crisis, including widespread wealth destruction and the need for government intervention to stabilize financial systems.
3. Political dysfunctions that stem from dualistic thinking and an overemphasis on differences rather than a nondual approach that celebrates unity and interconnection.
The document discusses the history and underlying causes of the global financial crisis. It outlines the decades of deregulation in the US financial system since the 1980s, including the removal of restrictions on savings and loans and the repeal of Glass-Steagall. This led to excessive risk taking by financial institutions through practices like subprime lending, securitization of risky assets, and credit default swaps without adequate oversight. The crisis impacted global economies through reduced demand and interbank lending seizures. The US implemented rescue packages totaling over $1.5 trillion to stabilize financial markets and stimulate the economy.
The document provides background on the demise of Lehman Brothers during the 2008 financial crisis. It discusses several factors that contributed to Lehman Brothers' bankruptcy, including market complacency during the housing boom, homeowner speculation and deteriorating lending standards, and bad regulation. As the housing market declined and mortgage delinquencies rose, Lehman Brothers faced significant losses due to its large holdings of subprime and lower-rated mortgage-backed securities. Despite talks with potential buyers, Lehman filed for bankruptcy on September 15, 2008, deepening the financial crisis.
The document discusses global security and development challenges and the role of innovative partnerships. It outlines Johan Bergenäs' presentation on emerging adjacent markets for the aerospace, defense, and security sector, including discussions on globalization, illicit drug trafficking, piracy, weaknesses in societies, and market opportunities in the sector estimated at $200 billion currently and potentially $40 trillion over the next 25 years. The presentation proposes a hybrid framework for partnerships in today's hybrid world and managing challenges across boundaries.
Euler Hermes ACI is the largest credit insurance provider globally with over 114 years of experience. They insure over 57,000 policyholders worldwide against risks such as bankruptcy and default. Credit insurance can help businesses expand sales, gain access to financing, and protect against unexpected losses from bad debt. Euler Hermes monitors over 43 million companies and processes 25,000 credit limits daily to help clients evaluate customer credit risk.
Euler Hermes ACI is the largest credit insurance provider globally with over 114 years of experience. They insure over 57,000 policyholders worldwide against risks such as bankruptcy and default. Bankruptcies are predicted to increase sharply in 2009, demonstrating the need for credit insurance. Credit insurance protects against unexpected bad debt losses, frees up working capital, and allows companies to expand sales into riskier markets or with key accounts.
Building a Resilient Finance Function for 2023 and Beyond (Tommaso Aquilante ...Executive Leaders Network
Delivered at ELN's Finance Leaders Event on Thursday 10th November 2022.
"Find out from Dun & Bradstreet how you can proactively protect your business - and finance function - from an uncertain macro economic environment. Find out how to tackle inflationary pressures, rising energy costs, and avoid financial and cash flow concerns.
Identify supplier vulnerabilities - and take action quickly before they impact your business' bottom line."
The document discusses the 2008 financial crisis and government bailouts. It provides background on how risky mortgage lending practices led to the crisis. It describes major events like the failures of Lehman Brothers, AIG receiving an $85 billion bailout from the federal government, and the $700 billion Troubled Asset Relief Program bailout. It considers risks of the government stepping in or not stepping in during a financial crisis and notes the economy may continue to struggle even after bailouts.
Economist Intelligence Unit (EIU) white paper produced at the height of the financial crisis in January 2009 outlining the opportunities to learn from the downturn and best practice to success in a changing environment.
This document provides a summary of the insurance market in Australia for the first half of 2015. It notes that competition has led to lower premiums for clients with good risk management. Insurers have retained more risk internally to reduce costs. Emerging risks like cyber threats, cloud computing, drones and terrorism present new challenges. The outlook discusses specific sectors like mining, which faces pressure from low commodity prices, and power generation, which has surplus capacity due to low economic growth. The document advises clients to ensure their insurance programs are sustainable in the current competitive market environment.
US Recession 2008 Powerpoint Presentation SlidesSlideTeam
Be prepared for both natural and unnatural fluctuations in the economy by employing these US Recession 2008 PowerPoint Presentation Slides. Take assistance from these global depression PPT slides, to fully dissect the impact and financial crisis cost of the economic downturn. Exhibit the plan of action and the roadmap to safeguard your business through this content-specific economic-stagnation PowerPoint presentation. Analyze the factors that led to this economic recession and the key figures that aggravated the downfall using our professionally created universal slump PPT theme. Understand the strategies that helped the businesses who bought CDO survive by using our stagflation PPT layouts. Prepare a well-structured and in-sequence timeline of the leading events to keep track of the changing economic factors with the assistance of our global downturn PPT templates. This economic decline PPT deck will assist you in formulating a detailed and thoughtful business plan for your company. Download this global recession PPT deck and educate your audience about major economic events in an accessible way. https://bit.ly/3ccMmGl
Unfortunately all too often companies default on their payments to vendors or file for bankruptcy protection. Various factors may be the cause: Management deficiencies, financial restructuring, regulatory changes, product liability exposure, legal maneuvering, political upheaval, or even, as recent history has proven, regional natural disasters. No matter how wonderful we feel our customer is, a creditor may never know what future circumstances will diminish the customer’s ability to pay. Accounts Receivables (Credit) Insurance can be an indispensable credit risk management product reducing risk in an unpredictable marketplace. This Webinar will be of value to credit, financial or sales professionals who want to learn the basics of credit insurance and how using credit insurance may help their company. Specifically the speaker will cover: • Protecting Accounts Receivable from bad debt loss • How credit insurance is priced • How claims are settled • How credit insurance can be used to expand sales • Enhancing financing options • Compliance with Sarbanes-Oxley
It is important to consider the emerging risks surrounding commercial lending and commercial real estate lending. What stage are we in of this current economic cycle? The answer is uncertain, but it is important to consider the emerging risks surrounding commercial lending and CRE lending.
Protecting your company's economic healthKorn Ferry
This document summarizes a webinar on protecting a company's economic health during the COVID-19 crisis. The webinar focused on assessing the depth and duration of the economic impact, approaches to cutting costs depending on those factors, and the importance of transparent communication and engagement during difficult decisions. Speakers provided insights on riding out short disruptions with temporary measures or restructuring for long-term impacts through measures like layoffs or divestitures. They emphasized advance planning, scenario identification, and monitoring leading indicators to improve decision making and the company's position for rebounding from the crisis.
Impact of the Economic Crisis on Traditional ProfessionalsScott Billey
The document summarizes the impact of the economic crisis on traditional professionals such as accountants, real estate professionals, and lawyers. It discusses how the crisis has increased professionals' exposure to liability claims as their work quality declined due to financial pressures. It also describes how several high-profile cases like the Madoff Ponzi scheme have resulted in lawsuits against the auditors and advisors of those involved due to missed warning signs of fraud.
The presentation discussed the economic crisis and its causes, including irrational exuberance in housing and stock markets, moral hazards created by bailouts, and the use of financial innovations like derivatives. It outlined the Fed's many interventions to provide liquidity and stabilize markets. While opinions varied, the recession was predicted to be long and deep. Oklahoma's economy would likely fare better than the nation due to more diversification, but still suffer impacts. Once the crisis passed, the financial system would need reform to avoid future moral hazards.
RBC Global Asset Management: Surprisingly Sustainable Canadian HousingEric Lascelles
Canadian housing will eventually run into affordability woes, but concerns about overbuilding, condo excesses and flighty speculators are largely overblown.
2019 Election| Global Debt| Personal, Corporate and Government Debt| July 2019paul young cpa, cga
This presentation is one perspective on Debt. It is not the only view. People are more than welcome to visit other sites like BEA, Stats Canada, OECD, Banks, etc.
Government debt rating is important as the lower the rating the higher premium is for government bonds. Higher premium means higher interest rates.
This document summarizes a quarterly newsletter from Northland Wealth Management. It discusses recent awards and recognition received by Northland Wealth and its CEO. It then discusses a family that dealt with the loss of their son by creating art calendars featuring his artwork to raise funds for charities. Other topics covered include the impact of lower oil prices, a new approach to low volatility investing, and positive signs for the US economy. The newsletter provides updates on financial markets and wealth management strategies to its clients.
The Causes of the Global Economic-cum-Financial Crisis_International Relation...Cearet Sood
This document is a cover sheet for a student submission on the causes of the global economic-financial crisis. It provides the student's name, course details, assignment title, word count, and a plagiarism declaration. The main body of the assignment analyzes various contributing factors to the crisis, including the subprime mortgage crisis in the US, the role of mortgage-backed securities and collateralized debt obligations, the failures of Lehman Brothers and other banks, the impacts on markets and economies globally, and regulatory failures. Key events discussed include the housing market collapse, stock market crash, recession in countries like Ireland and Greece, and policy responses by governments and central banks.
This document discusses two phenomena that began in the mid-to-late 1990s: 1) A decline in the quality and appreciation of music, attributed to changes in the music industry and technology. 2) A rise in assets under management for alternative asset managers, but a decline in performance. It then discusses trends among investors, including lower fees for managers, more direct investments, growing interest in niche strategies, and decreasing patience with underperforming or largest firms. The document concludes with an update on the author's firm, Alpine, and their focus on unique opportunities and content.
Similar to Economic Trends: Navigate the Insolvency Storm (20)
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
Enhancing Asset Quality: Strategies for Financial Institutionsshruti1menon2
Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
1. September 22, 2020
A Webinar presented by Euler Hermes
ECONOMIC TRENDS:
NAVIGATE THE
INSOLVENCY
STORM
2. INTRODUCTIONS
2
Navigate the Insolvency Storm
Dan North
Chief Economist,
Euler Hermes North America
Chris Baker
Regional Vice President
Euler Hermes North America
3. EULER HERMES: GLOBAL LEADER
IN TRADE CREDIT INSURANCE
3
Navigate the
Insolvency
Storm
Credit Insurance: Protection against
bankruptcy and slow payment losses
Ø Safer sales growth in the US or overseas
Ø Knowledge to better manage risk
Ø Improved borrowing options
Ø Credit function support
Ø Reduce bad debt reserves
Ø Get paid for what you sell
Ø Founded in 1893
Ø AA S&P Rating and A+ AM Best Rating
Ø Global leader in credit insurance with 34% market share
Ø Offices in 52 countries providing coverage in over 200 foreign markets
Ø Backed by blue-chip ownership of the Allianz Group
Ø 6,000 employees and 52,000 clients worldwide
Ø Insure over $150 Billion in US sales and over $1 Trillion globally.
Ø Pay 85,000 claims per year
Ø International Risk Database monitors over 85 million companies worldwide
cvd
8. UNEMPLOYMENT – NOT JUST
UNPRECEDENTED, IT’S
COMPLETELY DIFFERENT…
8
Navigate the
Insolvency
Storm
Sources: IHS, BLS, Allianz Research bck
9. HOW LONG TO GET JOBS BACK?
9
Navigate the
Insolvency
Storm
pceSources: IHS, BLS, Allianz Research
10. CONSUMPTION (70% OF ECONOMY)
AND INCOME BOTH SLOWING – INCOME
FALLEN OFF A CLIFF
10
Navigate the
Insolvency
Storm
clfSources: IHS, BEA, Allianz Research
11. BUT THAT INCOME HAS FALLEN OFF A
CLIFF, PUTTING PEOPLE AND
BUSINESSES AT RISK.
11
Navigate the
Insolvency
Storm
Source: WSJ, Nomura Securities Committee for a Responsible Budget, Census, Citylab
frgle
14. BIG BUSINESS:CORPORATE PROFITS
COLLAPSED, COULD FALL MORE, DEBT
IS ALARMING
14
Navigate the
Insolvency
Storm
Sources: IHS, Census, Bloomberg, IIF, Deutsche Bank Datastream, Worldscope, Allianz Research brpt
16. RECAP
16
Navigate the
Insolvency
Storm
• Even before Covid-19, economy was fragile.
• Response devastated economy
• Massive job losses
• Massive drops in consumption
• Now income has dried up
• Trouble making rent, mortgages? Hunger?
• Personal delinquencies and bankruptcies to rise
• But it’s not hopeless…
hpls
17. BUT IT’S NOT HOPELESS: WE HAVE
PROBABLY BOTTOMED. WE EXPECT
+3.7% GDP IN 2021, BUT…
17
Navigate the
Insolvency
Storm
Sources: IHS Global Insight. NAR, Census, Conference Board, Allianz Research cvd
19. THERE IS ALREADY AN ALARMING
RESURGENCE IN EUROPE AND CANADA
19
Navigate the
Insolvency
Storm
vcn
20. A VACCINE IS THE KEY FOR ECONOMIC
RECOVERY, BUT IT’S PROBABLY A WAYS OFF
20
Navigate the
Insolvency
Storm
Sources: NY Times, Pew trg
21. COVID IS HIGHLY CONCENTRATED IN SOME
GROUPS; THE OLD, ALREADY SICK, NURSING
HOMES (45% OF DEATHS)… WOULDN’T TARGETING
MAKE SENSE?
21
Navigate the
Insolvency
Storm
Sources: NBF Economics and Strategy, WSJ, CDC, Census, Euler Hermes, Allianz Research cncl
23. CONCLUSIONS
23
Navigate the
Insolvency
Storm
• Even before Covid-19, economy was fragile.
• Response devastated economy.
• Massive job losses which will take years to recover.
• Massive drops in consumption.
• Now income has dried up.
• Trouble making rent, mortgages. Hunger?
• Personal delinquencies and bankruptcies to rise.
• But it’s not hopeless: housing market, yield curve, leading indicators,
business confidence, retail sales all indicating a bottom.
• That’s positive but it does not mean the economy has recovered, it just
means it’s stopped getting worse.
• A long way to go to recover GDP.
• Biggest risk is more COVID, which has already permanently destroyed jobs
and businesses. Another shutdown could do more damage. Targeted
shutdowns would be best.
26. INDUSTRY RISK ASSESSMENT
26
Navigate the
Insolvency
Storm
CATEGORY RISK LEVEL DEFINITION
1 Low Sound fundamentals. Very favorable or fairly good outlook
2 Medium Signs of weaknesses. Possible slowdown
3 Sensitive Structural weaknesses. Unfavorable or fairly bad outlook
4 High Imminent or recognized crisis
NA NA Information not available mainly because the industry barely exists in the country
low
medium
sensitive
high
Software&ITServices
Chemicals
Commodities
Computers&Telecom
Electronics
Automotive
Manufacturers
Agrifood
Paper
AutomotiveSuppliers
Pharmaceuticals
Construction
Machinery
Energy
HouseholdEquipment
Textiles
Retail
Services
Transport
Metals
TransportEquipment
27. PAST DUE REPORT (PDR)
27
Navigate the
Insolvency
Storm
TOP 5 SECTOR INCREASES IN $
March 2020 vs. July 2020
TOP 5 SECTOR INCREASES IN #
March 2020 vs. July 2020
29. BANKRUPTCY CASE STUDY
29
Navigate the
Insolvency
Storm
RED FLAGS: RISK RATING PROGRESSION:
Reduced demand
and backlog
High cost
structure
Weak commodity
prices
Heavy debt
obligation
SECTOR: ENERGY – OIL & GAS
Downgraded to
risk grade 6
June 2019Downgraded
to risk grade 8
Sept 2019 Filed for
bankruptcy
April 2020
30. BANKRUPTCY CASE STUDY
30
Navigate the
Insolvency
Storm
WITH TRADE
CREDIT INSURANCE
WITHOUT TRADE
CREDIT INSURANCE
Get What
You’re Owed
Get Paid Fast
Reduce Cash Flow
Disruption
Assistance Through
Bankruptcy Process
WITH TCI VS. WITHOUT TCI
31. PROTECT FROM NONPAYMENT
31
Navigate the
Insolvency
Storm
CFOs at least
moderately
concerned with
experiencing
nonpayment
CFOs reported
they had
experienced
nonpayment
Insolvencies
increase in US
Average
nonpayment
events over the
last 3 years
32. PROTECT FROM NONPAYMENT
32
Navigate the
Insolvency
Storm
TRADE CREDIT INSURANCE
Protects against unexpected
bad-debt loss
Improves Working Capital
Strengthens the Balance
Sheet
Complements your existing
credit processes
(information)
Safely expand sales