â¢ Teamwork at all levels is seen as key to improving processes and services. â¢ Quality management and improvement training are provided at all levels of the organization. â¢ Accountability for quality and productivity improvement is tied to managers' performance evaluations.
DEFINITION of 'Senior Debt'. Borrowed money that a company must repay first if it goes out of business. Companies have a number of options for obtaining financing, including bank loans and the issuance of bonds and stocks. Each type of financing has a different priority level in being repaid if the company decides to liquidate. If the company goes under, the holders of each type of financing have different levels of rights to the company's assets.
Many American senior citizens feel backed into a corner with credit card debt, hefty mortgage payments and property taxes, as Social Security pays for only the very basic needs. More than 30 percent of people 65 or older have a mortgage with a median balance of $56,000. Another challenge for senior citizens is their inability to bring in the income they require to make a significant change.