This paper considers whether real estate will ever again be a good place for the average American homeowner, investor, or speculator. Looking at the rate of change in real estate prices over the past few decades and the rate of inflation one sees a correspondence. The faster the rate of change...

This book takes an entirely new look at how companies ought to be managed. It argues that managers need to focus on how corporate decisions affect the firm's cash. The author, who is well known in the fields of management and crisis management, suggests that companies that follow the paradigm...

During the boom that preceded the economic collapse of 2007-2009, the expression “the world is awash in liquidity” was frequently heard when speakers described the state of the economy. The expression meant that money was freely available to almost any borrower. The list of suitable...

Since the April 2005 passage of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), companies have discovered that bankruptcy has become a quicksand of unexpected surprises that quickly forces companies into liquidation or forced asset sales under section 363 of the Bankruptcy...

The first wave of highly leveraged transactions (HLTs) also known as leveraged buyouts (LBOs) began in the late 1980s. Fewer transactions occurred in the 1990's after a number of companies in the first wave failed when the economy slowed down. More recently, the driving force behind levered...

The relationship between personal and firm bankruptcy is intuitively understood but has not been previously studied. When a person files a bankruptcy petition they reduce their spending on goods and services sold by companies. Similarly, when a firm files for bankruptcy some employees lose their...

The expression quot;greed and fear move marketsquot; is commonly cited to explain trading activity. In this paper, greed and fear form the intellectual basis of a theory explaining short selling activity. The theory describes two independent demands for shares to short sell, one based on future...

Students both need and want to learn how to restore distressed and dying companies. Business schools have a responsibility to both their students and to society to teach these skills. One factor holding back faculty who might have considered teaching a course on this topic is the lack of a...