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Teams missed payrolls because of cash shortfalls or dropped out of the league.
The contracts call for A.I.G.'s financial products unit to pay in cases of bankruptcy, payment shortfalls or asset write-downs.
Such deals generate big tax breaks for companies but not for the governments, which typically make such deals to meet budget shortfalls or finance infrastructure projects.
With Libyan exports suspended, the world is down to an increasingly slim cushion of spare capacity, estimated at four million barrels a day, to make up for supply shortfalls or meet rising demand.
The city has not suffered gaping budget shortfalls or the property tax declines seen in some larger cities, but some large purchases and road reconstruction have been delayed, waiting for a return to flusher times.
When shortfalls or apparent overruns do occur, Nassau is slow to pick up on them and make budget adjustments at midyear or at quarterly marks in the fiscal year, Ms. Brosen said.
Similar(30)
The report forecasts a $12.4 billion shortfall, or 15percentt, in this budget year and next.
It wouldn't take much of a revenue shortfall or unexpected expense to wipe it out entirely.
It leaves our allies with a choice to either make up the shortfall or let people drown in their waters.
Should they fail to meet their quota of 30 rodents, they have 24 hours to make up the shortfall or lose a day's pay.
It could cut the tax rate on food and reduce proposed income-tax cuts to make up the revenue shortfall, or simply cut government spending across the board.
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CEO of Professional Science Editing for Scientists @ prosciediting.com