working capital

Only its president and treasurer knew that the cordage trust was hobbled by overproduction, a lack of credit and the evaporation of its working capital.

Money management is something that Griffin is learning through part-time work in the University of California investment office, which controls the UC system’s roughly $170-billion portfolio of investments in retirement, endowment, working capital and cash.

The university’s $169-billion investment portfolio includes funds for its retirement plan, endowment and working capital.

It plans to use net proceeds — which it estimated at $198 million assuming an IPO price of $88 — for general corporate purposes including working capital and capital expenditures.

The exhibitor also cited in the SEC filing “increased seasonal working capital requirements ... and the resulting cash burn” it has suffered.