Word: awash
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...Already awash in bad loans, some of the largest and proudest U.S. lenders may have to merge to survive. The shaky health of the industry is hastening Washington's campaign to overhaul laws that have governed the financial system for more than half a century. Neil Bush is entangled in a new congressional investigation following the failure of a government-backed investment firm that bankrolled his oil-exploration company. Andrew Tobias on the practical benefits of volunteer work...
...Persian Gulf. That could push the price of oil, which closed at $25.92 per bbl. last week, well past the $41.40-per-bbl. peak that it hit in October. Another serious threat is the possibility of a crisis in the U.S. banking system, which is awash in bad loans and increasingly reluctant to lend more money. L. William Seidman, chairman of the Federal Deposit Insurance Corporation, told Congress last week that 1991 is likely to bring the failure of 180 banks with total assets of $70 billion. That would reduce the FDIC fund, which insures bank deposits, from an already...
During the fall, Moscow was awash with rumors that the rightists had talked Gorbachev into a crackdown. German Sovietologist Nerlich, who was in Moscow in November, heard a particularly unnerving -- and unconfirmed -- story. During a Politburo meeting on Nov. 16, an army-KGB-conservative bloc supposedly presented Gorbachev with an ultimatum that Nerlich summarizes this way: "Within six weeks he had to get things under control in the republics, Moscow and Leningrad or there would be physical ways of removing him." Janis Jurkans, foreign minister of the Latvian republic, tells a different story of a November ultimatum. He said last...
...executives were apprehensive that their little story of a kid and two Keystone Kriminals would be lost in a season awash in such high-profile films as Rocky V, Kindergarten Cop and Godfather III. They were even more apprehensive about competition from Three Men and a Little Lady, a sequel to one of 1988's big hits, Three Men and a Baby, which opened five days after Home Alone. But, says Sherak, "by the time Three Men opened, we were already positioned. Our momentum just kept going...
...investment-research firm Duff & Phelps: "Fuel prices are important, but the really important variable is what happens to the economy. If the economy falters, it will mean a significant reduction in profits, or losses, at some carriers." That could cripple such weak airlines as Pan American and TWA, already awash...