These days, with asbestos payouts way down and apparently adequate reserves in place, further unwelcome surprises seem unlikely.

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Turns out Krispy Kreme may have leavened profits in the way it accounted for the purchase of franchised stores and by failing to book adequate reserves for doubtful accounts.

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Though some Social Security experts believe that a relatively small additional increase could both stop the immediate cash drain and build adequate reserves to handle the 21st century demographic dilemma, the idea makes politicians shudder.

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"We urge you to immediately take steps to boost heating oil supplies and to ensure that adequate reserves are available on the East Coast by September, " the 34 lawmakers said in letter to the oil firms.

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Adequate cash reserves can help fund research and development, make dividend payments, buy shares back, entice buyout offers or even acquire other firms.

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Moreover, the SEC impeded creation of adequate loan loss reserves by banks during the boom years, allowed Wall Street firms to reduce significantly their capital cushions and eliminated regulations on abusive practices by short-sellers.

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Ms Hutt told BBC Wales the reserves were "more than adequate" to meet the Welsh government's needs.

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In large part, the onus of providing adequate oil and gas supplies will be on those countries that have the reserves but are not allowing their development, either at all or at economic levels.

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