Graphic courtesy of the WSJ (From the WSJ): ""Covenant lite" loans, a hallmark of the buyout boom, were supposed to give private equity owned companies the flexibility to ride out a recession. The ride is now getting very bumpy. Nicknamed for their loose loan requirements "covenants" in banker speak two big name covenant lite deals are showing signs of stress, underscoring the pernicious effect this recession is having on companies that borrowed money on even the most lenient of terms. On Monday, Apollo Management owned silicones maker Momentive Performance Materials warned that its earnings decline could result in their violating the liberal covenants on its loans, resulting in a possible default. And, last week, Moody's Investors Service said there is a "high probability" that weak financial results posted by private equity owned Clear Channel Communications Inc. will cause the radio giant to violate the loose covenants on its loans this year. Covenant lite loans grew to almost 19% of all bank debt outstanding, from about 1% at the beginning of 2006, according to Standard Poor's Leveraged Commentary Data. Buyers of Freescale Semiconductor, Neiman Marcus and Aramark Corp. all used the loans to finance their acquisitions. Private equity executives say that the magnitude of the downturn could result in more covenant violations in the months ahead. Representatives for Clear Channel and Momentive declined to comment. Loan covenants traditionally protect banks from the deteriorating financial performance of a borrower. If the borrower fails to meet certain standards, lenders can ask for their money back or try to seize property." A good way to think of this is to consider a situation where someone is originated an "unsecured mortgage", where the bank has the option to pursue collection activity, maybe place liens but can't foreclose on the house. The fact that 19% of all bank debt is comprised of these types of loans and they're just starting to fall apart is more than a little worrisome, one wonders when the next shoe will drop from companies who used debt to finance stock buybacks. It would be interesting to see statistics on the percentage of LBO loans that were financed with covenant lite loans, as it would give us a clearer picture of the potential exposure the banks face from LBO loans. At the end of the day this is just another example of banks desperate to loan money, no matter how nonsensical the terms were. Key Take Away : when you're evaluating potential banking stocks, it's probably not a bad idea to see if you can determine their exposure to covenant lite loans and LBO loans overall. A lot of the damage from bad mortgages and consumer loans has already been done, but the damage from cov lite loans won't hit the bank's balance sheets until later on in the year. You can read more here. Sources: The Wall St. Journal: "Covenant Lite Loans Face Heavy Hits" Peter Lattman, March 18, 2009. Orion 7s ,Air Jordan 11 Low Infrared 23 Fire Red 4s Air Jordan 3 Retro White Cement 2011 Air Jordan 5 Oreo Air Jordan 4 Fear Air Jordan 5 Grape 2013 Wolf Grey 3s Air Jordan 13 Ray Allen PE Thunder 4s If you are pregnant, getting dressed every morning is probably becoming quite a challenge as you try to keep up with the exciting changes that are happening to your body. The good news, though, is that maternity clothes are more stylish today than ever before and the choices are endless. With some smart shopping and a little creativity, you can keep looking and feeling great through the entire pregnancy. Here are some things to keep in mind as you shop for maternity clothes. Buy pieces that fit well but have room to grow with you. Many current maternity items are fitted but have panels that will stretch to accommodate your changing shape. Follow today's trend of showing off the bump if you feel comfortable enough. If you are in relatively good shape, you can buy fitted styles that reveal that you are pregnant and not just gaining weight. Think of comfort, especially in the later stage of pregnancy. When you have Braxton Hicks contractions and your feet swell and you have heartburn to boot, you will want to wear things that are easy to put on and don't constrict you anywhere. Shop in a variety of places. Specialty stores that carry moderate and high end maternity items are a good place to get some of the basics you will need. You can also fill in with less expensive items from discount houses like Target or Walmart that feature maternity lines. Look for sale racks. Maternity items go on sale frequently toward the end of the season, so you can shop ahead. Just don't overdue it, as it is hard to predict your size too far in advance. But some of the basics, like stretchy pants and cardigan sweaters, can carry you through the different seasons and trimesters, and will also come in handy afterwards before you fit back into your regular clothes. Stick a stuffed "belly" pillow (available at most maternity stores) underneath the clothes to see how they will stretch over your increasing bulk. Try positioning the pillow at different heights to see how the clothing will look with different shapes. There is no predicting how high you will carry since every baby is different, so you want to be sure the clothes will work with you in various ways to be ready for anything. Invest in some high quality pieces made of nice fabrics that you can wear for a variety of occasions. Some simple black pants and a nice black top can be appropriate for work with a simple necklace but can be jazzed up with a shimmery shawl or layers of beads and strappy shoes for a night out on the town or a formal dinner. Don't retire your high heels if you don't have to. Many pregnant women opt for flat shoes, but this can make your already rounded body look more squat. Unless swollen ankles and feet are a real problem for you, elongate your look with a high heel. If you can't manage the heel comfortably, try pointy flats to make your legs look longer instantly. Remember to accessorize. You can call attention up to your face by wearing bold earrings, necklaces and scarves. In addition, you can change the look of your basic pieces by pairing them with different accessories. Don't limit your shopping to the maternity department. Depending on your size and shape, many regular clothing styles in today's stretchy fabrics will work through most of your pregnancy. Also try low rise pants that fit below the belly and might be able to work with your pregnant shape. Maintain your style standards. If dressing well is important to you when you are not pregnant, don't sacrifice this now. There are so many trendy maternity items to choose from this year, and many popular designers have now branched out in maternity wear so it is easier than ever before to buy clothes that will look great. Orion 7s,You're a mom and you're still thinking about being 'fashionable'? That's the kind of response I got from someone I went shopping with. All I did was go shopping with this mom and when we passed a fashion outlet selling fashionable clothing and apparel, I commented that I wanted to get that frilly pink top with splashes of lime green that is flying off the shelves with a 70% discount tag! Is it wrong to be a mom and still want to be fashionable? In my personal opinion, there's absolutely NOTHING WRONG with wanting to be a fashionable mom! Being mom doesn't mean that we have to give up our rights to being fashionable, beautiful and healthy. Being mom doesn't mean that our lives and the entire focus of living has shifted from 'us' to 'family'. Of course, without a smidgen of a doubt, being mom zaps your energy and any mom with a sense of fashion can tell you that it takes a lot to be a fashionable mom. It already takes so much effort to dress up the kidsimagine trying to find time matching fashionable tops with fashionable skirtsand then find the blasted fashionable handbag with the same color and tone to go with the same colored fashionable shoes! What an effort! When we used to be single, trying to be in fashion didn't used to be such an effort, did it? In fact, pulling out fashionable clothing off the shelves and donning them seems to come so naturally to most of us when we are young and LOOKING! Now that we're not looking anywhere else but at our kids, we find it such an effort just to be fashionable?
2014 Online Discount Sale Orion 7s,Sport Blue 14s This lessens the chance of aggravating your hip bursitis. During the first 48 hours, ice your hip with an ice pack compressed directly over the affected area. This will help reduce swelling and pain. You should ice your hip at 20 minute intervals throughout the day (every 3 4 hours as necessary). These medications are Cox 2 inhibitors which minimize inflammation by limiting the effects of Cox 2 enzymes and prostaglandins (chemicals), the body's natural inflammatory response to joint irritation or injuries. You doctor can prescribe oral steroids or give you a cortisone shot if your pain is more severe. Blood is necessary for healing as it supplies the injured area with oxygen and nutrients. Rheumatologist, Dr. You may also try some of the following hip stretching exercises. Lie on your back, bend both knees and place your right ankle over your left knee. Grab your left thigh and pull it toward your chest. Hold that position for 15 30 seconds, then relax. Repeat 3 times with each leg. This will stretch your buttock muscles on the outside of your hip. Lie on your stomach and extend your legs. Squeeze your buttock and thigh on the side of your painful hip and lift your leg about 8 inches off the floor, keeping your knee straight. Hold that position for 5 seconds. Do 3 total repetitions. (For further explanations and more exercises, see ref. 3 below) Orion 7s "Things are getting worse and worse in Greece. There is no future for the next few years there," says Christos Christoglou, a Greek inspection engineer who moved to Germany to find work. By Andy Eckardt and Carlo Angerer, NBC News Germany, Europe's economic powerhouse and a country which has been criticized by many Greeks over its harsh demands for austerity cuts in return for bailout cash, has experienced an influx of young skilled immigrants. Der Spiegel magazine noted that while Greek newspapers "printed cartoons depicting the Germans as Nazis, concentration camp guards and eurozone imperialists who allow their debtors to bleed to death," the Greeks have kept arriving bringing an "anything is better than Athens" attitude with them. With more than 50 percent of young Greeks out of work, it's not surprising that official statistics show the number of Greeks who moved to Germany increased 90 percent during 2011. Unemployment rates have consistently been shrinking in Germany in recent years and the economy is thriving despite Europe's ongoing financial crisis. Relaxed cross border employment regulations for member states of the European Union also make Germany an attractive choice for job seekers. And while Germany is in need of specialized workers, the Greek labor market has little to offer. Leftist tipped to be next Greek leader warns of 'Cold War' over cuts "It is virtually impossible to find a job in Greece at the moment," says Christos Christoglou, an inspection engineer who took a job at German chemical and pharmaceutical giant Bayer at the start of the financial crisis in June 2010. "It is not that there are only very few jobs for young graduates to seek, no, there are none, zero, there is nothing." A year after moving to Germany, Christoglou's wife Mary and their 5 year old daughter Georgina joined him last summer. The family now lives in a four bedroom apartment in Leverkusen. They are likely to stay for good. "My wife, an English teacher, and our daughter, do not speak German yet. But my Mary will soon also try to find a job," Christoglou told NBC News. "And while, yes, it is quite difficult to be without our close friends and family in Greece, I do not want to waste my six years of intensive studies to find myself without hope for the future." Christoglou, 38, says incentives are needed to prevent Greece's well educated workforce from abandoning the country. "I know many Greek academics, but also ordinary workers, who have moved to wealthier European countries, like France, the Netherlands or Sweden," he added. Greek debt woes put Europe on financial knife edge According to Germany's national statistics office, some 24,000 people left Greece last year to live and work in Germany, almost double the number who did so in 2010. Tsianos told the magazine he estimates that 60,000 new Greek immigrants arrived in Germany in 2011. There was also a significant spike in the number of immigrants relocating to Germany from other economically depressed southern European countries last year, with official statistics showing an increase of 52 percent from Spain, 28 percent from Portugal and 23 percent from Italy. So much for 'the Spanish dream': Euro crisis turns suburbs into ghost towns Until a few weeks ago very few people had heard of him, but Alexis Tsipras could soon be the next Prime Minister of Greece. His anti austerity stance won his party second place in the recent election, and the forecasts for next month's run off suggest they could do even better. The recent arrivals include 27 year old IT specialist Vasileia Paschali, who decided to bid farewell to Greece's political and economic turmoil and arrived in the quaint southern German city of Boeblingen nine months ago. She didn't speak a word of German. "The most difficult thing was learning German, it was terrifying at the beginning," Paschali told NBC News. "Life is so quiet and structured here in Boeblingen, which is quite a contrast to the hectic routine I experienced in Athens." She responded to a job offer from German engineering development supplier Ruecker, a company which mainly services the automobile and aviation sectors. Europe told to prep for Greek exit scenario Wiesbaden based Ruecker is actively recruiting technical engineers from Greece, Portugal, Spain and Italy, offering them a two month paid language course followed by an open ended contract with a guaranteed base salary of about $4,500 per month. "There are simply not enough qualified applicants on the German market," says Thomas Aukamm, who works for Ruecker's marketing and recruiting department. "These are investments that we need to make in order to secure the workforce that we work with in the future." The company has received about 3,500 applications, mainly from southern European countries, and is presently evaluating about 500 of them.
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