Brian Gongol

Debt can make sense when it covers long-term investments in value -- like capital expenditures, a college education, or a home mortgage. But if it's being accrued strictly on pizza and beer, then it's a bad way to get a start on the adult world.

Rockwell Collins is largest, followed by Principal Financial Group and Terra Industries. All three are at least 50% smaller (by market capitalization) than they were in 2007.

The effort to save newspapers from extinction takes a political twist

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