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"markdown": "\n\n# Commentary\n\n\"*We will continue to **aggressively** manage our legacy issues and credit facilities and **focus heavily on liquidity, capital retention and reducing our short term borrowings** during this significant down turn*\"\n\n\u2014 **Ivan Kaufman, CEO & Chairman** (November 2008)\n\n\"*We believe that this is an environment where there'll be a huge differentiation and perhaps a lot of the weaker companies will disappear ... we just have to stick to building our business and utilizing these opportunities*\"\n\n\u2014 **Ivan Kaufman, CEO & Chairman** (February 2008)",
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"markdown": "\n\noption **Prudent Capital Management**: [x] Arbor aggressively managed struggling credit facilities\noption **Capital Retention**: [x] Arbor prioritized capital retention and reducing short-term borrowing to focus on liquidity during an uncertain economic period\noption **Capital Restructuring**: [x] Arbor significantly restructured its capital structure by retiring a significant amount of debt at deep discounts\noption **Portfolio Management**: [x] Arbor took early steps to manage the loan portfolio effectively by restructuring and monetizing loans and recording appropriate reserves",
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