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Possible Answers:
DEI.
Last seen on: Daily Boston Globe Crossword Monday, March 27, 2023
Random information on the term “equity”:
In finance, equity is an ownership interest in property that may be offset by debts or other liabilities. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets owned. For example, if someone owns a car worth $24,000 and owes $10,000 on the loan used to buy the car, the difference of $14,000 is equity. Equity can apply to a single asset, such as a car or house, or to an entire business. A business that needs to start up or expand its operations can sell its equity in order to raise cash that does not have to be repaid on a set schedule.
When liabilities attached to an asset exceed its value, the difference is called a deficit and the asset is informally said to be “underwater” or “upside-down”. In government finance or other non-profit settings, equity is known as “net position” or “net assets”.
The term “equity” describes this type of ownership in English because it was regulated through the system of equity law that developed in England during the Late Middle Ages to meet the growing demands of commercial activity. While the older common law courts dealt with questions of property title, equity courts dealt with contractual interests in property. The same asset could have an owner in equity, who held the contractual interest, and a separate owner at law, who held the title indefinitely or until the contract was fulfilled. Contract disputes were examined with consideration of whether the terms and administration of the contract were fair—that is, equitable.
Random information on the term “DEI”:
Dale Earnhardt, Inc. (DEI) is a former race team founded by Dale Earnhardt and his wife, Teresa Earnhardt, to compete in the NASCAR Cup Series, the highest level of competition for professional stock car racing in the United States. From 1998 to 2009, the company operated as a NASCAR-related organization in Mooresville, North Carolina, United States. Earnhardt was a seven-time Winston Cup champion. He died in a crash on the final lap of the 2001 Daytona 500. Despite his ownership of the DEI racing team, Earnhardt never drove for his team in the Winston Cup; instead, he raced for his long-time mentor and backer Richard Childress at RCR. In the late-2000s, DEI suffered critical financial difficulties after drivers Dale Earnhardt Jr. and Michael Waltrip, and sponsors Anheuser-Busch, National Automotive Parts Association and United States Army left the team; DEI consequently merged with Chip Ganassi Racing in 2009, moving their equipment into the latter’s shop, while the former’s closed down. Chip Ganassi Racing’s NASCAR operations was subsequently purchased by Trackhouse Racing Team in 2021.