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Target didn't need financial engineering; it just needed a better economy.
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It was Mandelson who said that the lesson from the most savage recession since the second world war is that Britain needed less financial engineering, more real engineering.
Although popular with management consultants, this kind of restructuring is as likely to create complexity as simplification.With the industry in trouble and its balance-sheet swollen, what L&T really needs is not financial engineering but to be a tight ship and make no big mistakes.
But Ion also says that UK heavy engineering firms will need financial assistance to scale up capacity to cope with these vast projects.
Toshiro Shimoyama, Olympus president from 1984 to 1993, admitted to the Nikkei industrial daily newspaper in 1986: "When the main business is struggling, we need to earn through zaitech" (meaning financial engineering).
Mr. Obuchi has little expertise in financial engineering himself and needs a powerful Finance Minister to give his administration credibility in a skeptical world.
Z-score model is one of the most frequently used risk early warning models in financial engineering, but it needs further research to prove whether it is suitable for China's burgeoning real estate enterprises.
We need to get back to making stuff, based on real engineering not just financial engineering.
Indeed, it requires financial engineering as well as the technological kind: operators around the world will need to reabsorb their separate mobile units in order to integrate them with their fixed-line operations.
But while a more sophisticated capital market might mean more funds available and might even reduce the amount of financial engineering going on, it is not the solution to today's predicament.Instead, two things need to happen.
We need to rebuild our economy in a different way from the past, with more jobs in real engineering not just financial engineering.
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