Word: 1990s
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...companies can refinance and push their debt off - the core practice is still destructive. Many of these companies will fall apart anyway. In the 1980s, when Michael Milken was funding buyouts, 52% of the biggest 25 companies acquired ended up going bankrupt. I did a study of the 1990s, ideal economic times, and with 6 of the 10 biggest buyouts, the companies clearly were worse off 10 years later. In three cases the results were mixed, and in one case the private-equity firm improved the business. This decade, 6 of the 10 biggest buyouts are already considered distressed, according...
...ways. For one thing, the stock market is down 26% since 2000, making this the worst decade for stocks. (Inflation-adjusted, it's even worse.) I remember Warren Buffett telling me at the beginning of the decade that there was no way the go-go returns of the 1990s were going to continue and that we had better get used to meager returns going forward. Buffett saw it coming. (See 25 people to blame for the financial crisis...
Take the vexing and costly war we are waging against al-Qaeda and its ilk. This is a conflict that was barely on the radar in the 1990s - which is exactly the problem. By most accounts, Osama bin Laden founded his organization sometime between 1988 and 1990. The U.S., in part, helped create this loathsome band itself by funding the mujahedin, who fought the Soviets in Afghanistan in the 1980s and provided much of the training for bin Laden's foot soldiers. But our friendly freedom fighters turned into foes. In 1992 al-Qaeda bombed a hotel in Yemen, hoping...
...Heaven and Hell” also disappoints. A bouncy, whimsical number that recalls the lighter edges of 1990s indie pop, it also brandishes that genre’s worst impulses: childishness and condescension. The result is more than a little irritating, and closes the album on a distinctly sour note...
...Here Overparenting had been around long before Douglas MacArthur's mom Pinky moved with him to West Point in 1899 and took an apartment near the campus, supposedly so she could watch him with a telescope to be sure he was studying. But in the 1990s something dramatic happened, and the needle went way past the red line. From peace and prosperity, there arose fear and anxiety; crime went down, yet parents stopped letting kids out of their sight; the percentage of kids walking or biking to school dropped from 41% in 1969 to 13% in 2001. Death by injury...