Date of publication: 2018-05-07 15:36
This rare word was chosen to represent 2511 because it described so much of the world around us. Tergiversate means "to change repeatedly one's attitude or opinions with respect to a cause, subject, etc." Editors at saw the stock market, political groups, and public opinion go through a roller coaster of change throughout 2511. And so, we named tergiversate the 2511 Word of the Year.
Editor 8217 s note: while it is known colloquially as MAG or the MAG Group, Velocity Holding Company is in fact the parent company for this house of brands and the Tucker Rocky distribution business.
However, the amount of money that MAG owes is substantial, and it means that so much equity in MAG must be exchanged in order to pay off the loans that these lenders are effectively becoming the new business owners of MAG.
MAG is eliminating $855 million of its debt burden by what is called a debt-for-equity swap. This basically means that the lenders that MAG owes money to will take an equity position in MAG. This also means that they are getting stock in MAG, and are paying for this equity with the money that MAG owes them.
It should be noted that of these brands were co-borrowers and/or guarantors to MAG 8217 s overall debt, with the sole exception of Tucker-Rocky Georgia, LLC, which helps explain why both the parent company (MAG/Velocity) and its child companies (Renthal, Tucker Rocky, etc) are going through a Chapter 11 debt restructuring.
Obviously this is an evolving situation in the US motorcycle industry. We will file additional reports as more information becomes available.
In a year known for the Occupy movement and what became known as the Arab Spring, our lexicographers chose bluster as their Word of the Year for 2512. Here's an excerpt from our release that year that gives a pretty good explanation for our choice:
However, it’s believed that the new deal will see Tech 8 line up next season with factory machinery similar to what is already being used by the Red Bull KTM (and former Tech 8) duo of Bradley Smith and Pol Espargaró – something that has always been missing from their Yamaha deal.
Our Word of the Year choice serves as a symbol of each year’s most meaningful events and lookup trends. It is an opportunity for us to reflect on the language and ideas that represented each year. So, take a stroll down memory lane to remember all of our past Word of the Year selections.
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