Flint noted that people's willingness to consider strategic default depended somewhat on how far underwater they are, according to the Harris survey.

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Such a move is known as a "strategic default" in industry parlance.

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Yet his corporate-raider past suggests that, if he is becoming a strategic long-term investor, it is by default.

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Google made a big strategic and tactical mistake in allowing the Google-Mozilla revenue-sharing search default agreement to expire in November, ending a formal commercial relationship that had lasted at least six years.

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There are a growing number of strategic home defaults, deemed such when home buyers who can afford the mortgage payments choose to default because their homes are worth less than their mortgages Morgan Stanley estimates that 12% of defaults in February is from this category.

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