Word: 1980s
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...buried. The ruling represents something of a revolution in a country that has long oppressed Kurdish rights. "It would have been unthinkable, up until recently, for a solo prosecutor to order this search," says Umit Kardas, a former military judge who served in the southeast in the 1980s. "This gives me hope about Turkey's future...
First, some background: private equity refers to what in the 1980s was called the leveraged buyout (LBO). LBO artists such as Henry Kravis and Carl Icahn borrowed lots of money on the junk-bond market built by financier Michael Milken and used it to finance takeovers - sometimes hostile ones - of struggling corporations. During the recession of the early 1990s, the LBO business faltered, and many predicted its demise. But buyout funds re-emerged under the more genteel moniker private equity, eschewed hostile takeovers, reliably outperformed the S&P 500 and grew to be a far bigger force than they ever...
...since the opening of Fiorucci on East 59th Street in the 1970s or Reminiscence on MacDougal Street in the 1980s has a fast-fashion retail brand made such a splash in Manhattan. On Thursday morning the model Kate Moss will join Arcadia Group chairman Sir Philip Green to cut the ribbon on British retail chain Topshop's long-awaited U.S. debut, at Broadway and Broome Street in SoHo. Originally scheduled to hit the Big Apple last fall, the delayed flagship opening comes at a time when other relatively inexpensive fashion brands like H&M and Zara are reporting declining sales...
...trouble, they would do well to learn the lesson of their surroundings. The summit of leaders from 19 of the world's key economies will be held in London's docklands, just east of Canary Wharf, a real estate megaventure conceived on industrial wasteland in Britain's go-go 1980s. By the time the first part of the project was completed in the early 1990s, Britain was in a deep economic slump, and the project's developer, the Montreal-based Olympia & York, went bust...
...since become an essential part of London's economy, expanding the center of that amoeba-like city to the east. So do big bets on real estate ever pay off? Anyone who saw the sheer scale of decrepitude and decay of London's docklands in the early 1980s like I did will need no convincing that they sometimes do. In the ever turning cycle of economies, booms turn into busts, all right. But busts, too, come...