Financial Troubles
At the end of 2008, Redstone financial troubles started when billionaire Sumner Redstone had to dump $400 million of nonvoting shares.
It was released that National Amusement planned to sell $390 million of notes in another attempt to refinance a large part of the company's bank owed debt.
Read more about this topic: National Amusements
Famous quotes containing the words financial and/or troubles:
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)
“Taft, laughing, “What troubles [brother] Charles is, he is afraid Roosevelt will get the credit of making me President and not himself.” To Charles: “I will agree not to minimize the part you played in making me President if you will agree not to minimize the part Roosevelt played.””
—William Howard Taft (1857–1930)