Rescue proposals in Europe have turned on how ratings agencies define a sovereign default.Ratings are also embedded in private contracts: witness the ruinous amounts of extra collateral demanded by AIG's derivatives counterparties after it was downgraded.
Hayes feared that the Act would cause inflation that would be ruinous to business, effectively impairing contracts that were based on the gold dollar, as the silver dollar proposed in the bill would have an intrinsic value of 90 to 92 percent of the existing gold dollar.
NIAMEY, Niger — In Niger, government officials have fought a Chinese oil giant step by step, painfully undoing parts of a contract they call ruinous.
They signed the giveaway union contracts that are so ruinous today.
Remaining, according to A.I.G., are relatively benign contracts that are unlikely to cause ruinous damage.
It was the Yankees who indirectly put the Cardinals in this uncomfortable and potentially ruinous position when they handed Rodriguez the richest contract in baseball history: $275 million (and incentives) over 10 years when he was 32.
But as Raymond Neidl, an analyst with ABN Amro, a Dutch bank, said of the original United deal, "That contract wasn't economic reality and set off a potentially ruinous feeding frenzy .Airline pilots may have been intent on ruining themselves, but their passengers were not.
Yet in October, in only his 10th game for the club, he suffered a double leg break against Olympiakos, a potentially ruinous injury for a player who was 33, and then agreed to terminate his contract at the end of the season.
For example, by putting up a relatively small amount of money, a farmer could buy a derivative known as a forward or futures contract that would guarantee a set price for crops and thereby guard against ruinous price swings between planting and harvest.
They are also concerned Google is trying to transfer liability for obtaining consent onto publishers — asserting: "Given that your now-changed terms are incorporated by reference into many contracts under which publishers indemnify Google, these terms could result in publishers indemnifying Google for potentially ruinous fines.
