Liquidating a small business

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The Portal allows licensees to submit exemption notices and annual report information.

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It is a measure of our natural optimism that at one time or another most business people have at least given thought to incorporating a business.

At the same time, few of us think willingly about the other end of a corporation’s existence - dissolution.

But the two losing contracts, which were for floating-rate notes in dollars and Deutsche marks, were written through Bankers Trust Co. But for months before that, Wall Street had been alive with talk that the Fed would change course.

It was only a question of when not whether, and anyone gambling heavily on a continued fall in rates was riding for some kind of fall, as even high-risk hedge fund managers like George Soros discovered in February when they lost hundreds of millions. Soros himself conceded Wednesday in Congressional testimony on derivatives, "the risks involved are not always fully understood even by sophisticated investors, and I am one of them." Geoffrey Bell, who runs his own investment company and is executive secretary of the Group of Thirty, an academic and financial study group, said "P&G's business is toothpaste, not highly leveraged swaps.

Wrong guesses meant small losses, usually balanced by small gains when the company was right, which was the object of the whole exercise. Artzt, the chairman of Procter & Gamble, disclosed that liquidating two contracts for interest rate swaps cost the company 7 million, 2 million of which would be charged, after tax, against third-quarter profit.It's one thing to hedge, but why were they leveraging up on such a scale? How could the chief financial officer not know about something that size? Nelson, P&G's chief financial officer, told analysts that P&G policy was to deal in "plain vanilla-type swaps," and as interest rates rose in February "we started to realize there was an exposure that those involved hadn't spotted prior to that." P&G pinned the corporate responsibility on its treasurer, Raymond D.Mains, who has since been sent on "special assignment." Mr.For a complete list of the types of financial services providers and industries regulated by the DBO, go to Self-Service Portal – The Department of Business Oversight (DBO) Self-Service Portal offers convenient online services to consumers and businesses seeking licensing information from DBO.

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