When our jewellery business went into receivership we avoided bankruptcy by selling our houses and possessions.
Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate.
The whole banking sector in Mexico was literally bankrupt. For whatever reason, instead of intervening in the sector or supporting the banks, the government expropriated them. We went through the very laborious period of selling the failing banks to the wealthy people of Mexico.
Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke. So the savings and loans went broke, the government stepped in, paid off depositors, and now they're left with this mass of assets to sell. We're not talking about selling here, we're talking about buying intelligently. They were selling what they got handed to them by a bunch of savings and loan operators that had in many cases had done some very dumb thing. But their job was to liquidate it. And they liquidated.
When people retire, their income drops much more sharply than their consumption. As a result, they stop saving and start drawing down the assets they've acquired during their high-saving years. That could start to put upward pressure on interest rates and downward pressure on stock prices.
If you don't have ample liquidity, and it's not durable, in times of stress, as you're looking for liquidity, you're forced to sell assets at declining prices, which then eats into your capital position, so it becomes this very, very negative cycle. There's no question that liquidity is sacrosanct.
Selling the family silver.
Describing privatization and the selling of profitable state owned enterprises: Earl of Stockton
Once you start moving [market] lower, then you trigger of all sorts of things. You trigger people who have to sell because they're over-levered. So they sell their winners and their losers. They're just trying to raise cash. So, what you then get is spreading malaise throughout the global markets.
Later the Administration wanted me to actually sell all remaining surplus by running the War Assets Corporation. I said I couldn't do it without some shoe leather.
For I, hearing my Lord's estate amongst many more estates was to be sold, and that the wives of the owners should have an allowance therefrom, it gave me hopes I should receive a benefit thereby.
Some families sell their stocks off a little bit at a time to live high, and then - boom - somebody takes them over, and it all goes down the drain.
A normal way that the American free market system has worked is that we have a process of unwinding. It's called bankruptcy. It doesn't mean, necessarily, that the industry is eclipsed or that it's gone. Often times, the phoenix rises out of the ashes.
I had a little house, and I sold that and moved into a condo, then sold the condo... I kept downsizing and downsizing.
I have some assets that over time will be worth something. I've been in the process of selling others.
How do you make money? Spinoffs, split-ups, liquidations, mergers and acquisitions.
Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.
Know what happens when an individual declares bankruptcy and how it affects his or her life.
It's just wrong to work your whole life to build up a nest egg, build your own business - you pass away, and Uncle Sam can swoop in and take away nearly half of everything you've earned. Can you imagine that? Having to sell off most of your land just to keep it from the government, just to save the house.
If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times, because it doesn't make any sense for me to keep any assets and then suffocate the whole organization.
With the club now in administration and concern about where the money for land sale has gone, I know there are huge commercial difficulties to be resolved, but I hope that football will once again become the most important issue.
If you want your debt lifted you've got to sell your school and your hospitals.