In fact, story is its principle asset.
Chris Marshall, who serves on a community board of the Auckland municipal government, said he was opposed to asset sales on principle but had decided to take advantage of the investment opportunity.
"What Dana Hollister did in this transaction was take their principle asset, give them next to no money, with a flaky promise to pay in three years," said J. Michael Hennigan, the lawyer for the archdiocese.
In embracing stewardship principles, asset managers and investors will develop an understanding of a company's governance and long-term business strategy, and commit to constructive dialogue as the primary means for addressing subpar strategies or operations.
"In principle, assets should be sold, but in practice lenders may not benefit, and there may be very nasty ripple effects that no one wants to see happen," says Nick Scarles, the chief financial officer of Grosvenor, a British property company.The picture is further complicated by interest-rate swaps that many borrowers took out to protect them against rate rises.
The basic principle behind asset forfeiture is appealing.
Despite this, Ms Stillman writes, "The basic principle behind asset forfeiture is appealing.
Global rules which extend the principle to asset managers and others are in the pipeline.Banks hope their voluntary fix will assuage regulators' concerns that many of them are still "too big to fail".
Other tech firms are applying a similar principle to assets such as cars, bicycles, textbooks, and toys.
That makes sense in principle, but assets deemed to be low risk — like AAA mortgage securities — turned out to be high risk.
We need a welfare system which allows disadvantaged children to build assets, built on the principle that what you get out is linked to what you pay in.
