American Electric Power (AEP) chose to delay its plans to build a wind farm in Indiana when the heavily indebted utility found its cost of capital had soared because of turmoil in the corporate-bond market.
In November, Delta and UAL shares soared after hedge fund Pardus Capital Management tried to push the two together (See "Airlines May Be On Course To Combine").
That is on top of interest payments well above those available in Japan, plus juicy capital gains as, thanks to falling interest rates, prices of long-term bonds have soared.