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Worsening the company's weak financial performance is its prodigious debt load of $35 billion, most of which was added to the balance sheet to finance the buyout.
The filing, made in federal bankruptcy court in Manhattan, is the final chapter in a turbulent period for Dewey, which came apart after disappointing profits and prodigious debt forced it to slash partners' salaries.
That will come, given the prodigious debt loads.
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In Chicago, we also stare at prodigious debt-service costs after $544 million in C.T.A. borrowing the past four years, $100 million in mandated free and discounted rides annually, and a projected $136 million that must be diverted to Pace, the suburban transit provider, to handle soaring paratransit costs.
Vivendi also hinted that it may eventually demerge Universal, its American entertainment business.See article: Does Vivendi have a strategy?Deutsche Telekom's new boss, Kai-Uwe Ricke, made his first dent in the German telecoms giant's prodigious debts of some euro64 billion ($64 billion).
Despite the company's efforts to tackle its prodigious debts, borrowing has ballooned, leading to speculation that its biggest shareholder, the French government, may yet have to bail it out.Jean-Marie Messier held on as chairman and chief executive of Vivendi Universal, despite the departure from the media group's board of his friend and erstwhile backer, Bernard Arnault.
He believes that "instead of leaving a prodigious national debt for our children and grandchildren, we should retain a robust estate tax and avoid the unprecedented interest costs of that debt".
Mr Butcher comes from Lucent Technologies, a telecoms-equipment maker that has suffered a similar return to earth.BT unveiled its latest plans to reduce a prodigious pile of debt.
Soon enough, the problems of Northern Ireland will recede beside the economic challenge the new coalition government in London will face as it tackles the country's prodigious levels of debt, and begins to administer the pain that almost everybody in this nation of 60 million will feel as government spending is slashed and new taxes imposed.
Meanwhile the government's fiscal deficit is prodigious and its debt vaulting, raising the fundamental issue of what kind of state Britain will be able to afford after the economy has indeed recovered.One facet of that awkward problem is whether Britain will, in future, be able to fight the sort of war in which it is currently embroiled in Afghanistan.
Taxpayers, for example, will ultimately have to pay for government debt, while prodigious government borrowing makes it harder for businesses to raise money.
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