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The debt holders, however, challenged the transaction in court, saying it unfairly favored equity holders at their expense.
Or, for really grown-up corruption, there was Paul J. Silvester, the nation's youngest state treasurer (appointed in 1997 by Mr. Rowland) who pleaded guilty to accepting cash kickbacks in return for placing $500 million in state pension investments with favored equity funds.
Similar(58)
Prior research suggests that self-interested managers have the tendency to favor equity over debt financing because of their undiversified human capital (e.g., Fama, 1980).
Care pathways are also presumed to favor equity by facilitating access to care and to improve efficiency by reducing the inappropriate use of health resources.
FOR many investors, then, the rational course is to favor equities in tax-deferred accounts -- to defer stocks first.
"The fundamentals favor equities over alternative asset classes, and the S.& P. 500, compared to its history, is neither underpriced nor overpriced.
In emerging markets, we also favor equities, though we think there is a realistic possibility they will underperform equities in developed markets for a little while more, just as they have done so far this year, mainly because the positive outlook for emerging markets has already been priced in.
Lyle Logan Lyle Logan, an adviser for Northern Trust, says that because of their relatively young age, in theory, most entertainers' portfolios should favor equities.
He favored direct equity injections into banks, for instance, before Mr. Paulson did.
But a great majority favored higher equity requirements, which is bankerspeak for the notion that banks shouldn't be allowed to borrow so much.
By contrast, exchange-traded fund investors heavily favored U.S. equities.
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