Two years ago, the problems seemed to be contained to a handful of big banks, which took large markdowns on the value of complex mortgage assets and other securities.
But some institutional investors like pension funds and insurance companies, which typically hold bonds for long periods of time, say they are being shortchanged because of the large markdowns that banks are demanding.
Konga launched its Yakata or "utterly falling"—sales campaign on November 18, offering large markdowns on items ranging from microwaves to gaming consoles.
There's a further, larger markdown calculated, based on current interest rates and the age of the gift giver.
Big markdowns at auto dealerships are not impressing U.S. consumers.
Dillard's announced crimped margins after tightfisted shoppers forced big markdowns.
Dillard's revealed crimped margins after tightfisted shoppers forced big markdowns.
For the first six months of 2002, Liberty reported revenue of $1.02 billion and a net loss of $4.5 billion, in large part because of the markdown in value of its public securities.
Now a second wave of big writeoffs is occurring, along with markdowns by midsize banks with large burdens of construction and real estate loans.
H&M, which buys most of its clothes in Asia in US dollars, said the drop was mainly due to the strong dollar effect on purchasing costs and by unseasonably mild weather in November in many large European markets and in North America, which led to weaker sales than planned and increased markdowns.
The great Basement innovation, but only at the flagship, was the automatic markdown system.
