Word: bailing
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Dates: during 1980-1989
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...than $1 million a day in interest on its Shoreham loans and losing $1.5 million for each day that start-up is delayed. New York Governor Mario Cuomo said last week that he doubted Shoreham would ever begin operating and that he saw no reason why the state should bail Lilco out of its losses. "Let them take a bath," he said. "They're a private corporation...
Past Policies to manufacturers have been "percentile and hoc,"Caton said, citing measure to bail out the floundering Chrysler Corporation. "That approach is like sticking Bandai's on a lackey life boat," he said...
...wear stores and kingpin of the "Texas Mafia," who smuggled tons of marijuana into the Lone Star State during the late 1970s. Cauble's corporate empire was so complex that agents felt he was the only person who could manage it efficiently. So while he was out on bail, the DEA paid Cauble $10,000 a year to run his business. They fired Cauble, however, when they discovered he was running the company into the ground. He was eventually convicted and sentenced to five years in prison...
Only a short time ago, such applause would have been unthinkable. When Deukmejian took office in January of 1983, the recession had eaten away what little remained in the till; earlier, billions in state revenues had been tapped to bail out local governments in the wake of Proposition 13, the 1978 voter initiative that drastically slashed property taxes. Deukmejian faced a staggering $1.5 billion deficit, an unemployment rate of 11.2%, and a Democratic-controlled legislature steeling for a fight. Having pledged not to raise taxes, Deukmejian instead offered an 18-month salvage plan to balance the budget. The battle bitter...
...Unlike many other officials in "legal trouble, Thayer did not try to hang on while the evidence trickled out. An inveterate crapshooter, he may have gambled unwisely with the SEC, but as a former test pilot, he apparently knew when to bail out. - By Evan Thomas...