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To: broadstbull who wrote (388836)	6/16/2009 11:44:29 PM
From: maceng2	Respond to of 436258

Leeds United tells the story imo. Leeds is a UK city that used to make stuff. It had a good soccer team. Then the fuddy duddy economic theory that we didn't need to make stuff grew in fashion. The rest of the story is predictable. The Yorkshire soccer club, whose rugged style won league titles in 1969, 1974 and 1992, transformed itself into a leisure brand listed on the stock market and boasting a team full of young talent. By 2001 it had reached the semi-finals of the European Champions League. Then its debt caught up with it. Owing £79m, it began a fire sale of players. Peter Ridsdale, chairman, left in 2003 but the shake-up could not stave off bankruptcy – or relegation. “We lived the dream,” he said. The nightmare of a third season in the third tier of English soccer continues. ft.com ..and on the same theme. National Express in debt talks National Express is in talks with bankers to renegotiate terms on part of its £1.2bn ($2bn) debt amid fears that the bus and rail operator will breach loan conditions in December. ft.com