Blog by Sumana Harihareswara, Changeset founder
Hi, reader. I wrote this in 2007 and it's now more than five years old. So it may be very out of date; the world, and I, have changed a lot since I wrote it! I'm keeping this up for historical archive purposes, but the me of today may 100% disagree with what I said then. I rarely edit posts after publishing them, but if I do, I usually leave a note in italics to mark the edit and the reason. If this post is particularly offensive or breaches someone's privacy, please contact me.
An exercise in understanding leverage, comparing the debt financing for Nordstrom and TJX, is a popular case study among business folk. At least that's what the web tells me.