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Many Russian companies are engaged in difficult restructuring talks on more than $100 billion in foreign debts.
Mr. Golub will be succeeded by Robert S. Miller, a fellow A.I.G. director who previously led Delphi, the auto parts maker, through an unusually long and difficult restructuring in Chapter 11.
"The improved earnings in the first quarter are the hard-won rewards of a very complex and difficult restructuring program," said Harold S. Hooks, American General's chairman and chief executive.
Intel, meanwhile, is upping its sales and margin estimates after a difficult restructuring process last year.
David Tappan took Bob Fluor's place as CEO in 1984 after Bob died from cancer and led a difficult restructuring.
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But one person who was briefed on the situation -- and spoke on the condition of anonymity because the studio was in the middle of a difficult financial restructuring -- said conversion remained an option.
Willem Buiter, the bank's chief economist, says that lending to new projects has been a great success, but he wishes the bank had been more involved in the "really difficult stuff"—restructuring the big enterprises.A revised vision of the EBRD goes like this: it lends wherever it can, without state guarantee, increasingly to municipalities.
Denying residents the opportunity to speak, making it difficult, is restructuring democracy to fit into a nice mold so the meeting runs better for the council's convenience.
"While change is always difficult, the restructuring of the labels is necessary for us to be more competitive, develop artists' careers and pave the way for meaningful growth," Universal Music Group said in a statement.
Household balance-sheets are more difficult to restructure than corporate ones, which involve far fewer people.
In a down market, though, they turn out to be almost insurmountably difficult to restructure.
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