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That year its operating debt reached $4.5 million.
Student achievement was abysmal, school buildings were crumbling, the operating debt was nearly $200 million.
The Brewers also had myriad problems off the field: they acknowledged an operating debt of $110 million and blamed some of it on an attendance decrease.
"Thirty years from now, people not yet born will be paying taxes to pay off an operating debt incurred in 1975," Mr. Pataki said at an appearance on Long Island last week.
Spending was out of control and the operating debt exceeded $20m a year.
The university has run up a cumulative operating debt of $15‐million since 1969, Mr. Shulman said.
Similar(52)
Allowing a museum to peddle its collection to cover operating debts would be like allowing a financial fiduciary, such as a bank, to raid assets held in trust to cover a hole in its own balance sheet.
For example, we believe that closing on Sundays, operating debt-free and devoting a percentage of our profits back to our communities are what make us a stronger company and Chick-fil-A family.
This will ensure that any operating debts incurred are paid for within the shortest possible time period.
SoftBank has in fact had a deep history of operating at debt levels well above industry averages, dating back to the mid-1990s, following the company's 1994 IPO.
MLB has a rule that prohibits teams from operating at debt levels greater than ten times operating income (Ebitda), but it's enforced arbitrarily and is easy to get around.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com