Word: bankrupt
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Dates: during 1940-1949
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...coal and steel. They were also mad enough four months later to do something about it. Nineteen shippers made up a $10,000 pool, used it to hire a smart lawyer. He went into Federal Court with a novel plea: the T. P. & W. (though highly solvent), was "physically bankrupt," so a receiver should be appointed to run the trains...
Sherneth stockholders had not met since 1936, when, under a ten-year voting trust, a committee of bondholders took over the bankrupt hotel. In 1943, Kirkeby, who has an eye for bankrupt properties, started buying into Sherneth. When the voting trust expired this January, he owned $1,000,000 worth of the corporation'" bonds, 26% of its stock. But the trustees refused to give him a voice in running the hotel. So, his dander up, Kirkeby began collecting proxies...
Kirkeby tested the water before he plunged in. He leased two small hotels in Chicago, used them to learn the business. In 1937 he took the plunge, paid $500,000 for a lease on Chicago's bankrupt Drake. He liked the water fine. In rapid succession he bought Chicago's Blackstone, Los Angeles' Town House (later sold for $100,000 profit), Manhattan's Gotham...
...Moscow's most insistent demands was $300 million worth of reparations from Italy-one-third to Russia, the rest to Yugoslavia and Greece. The U.S. and Britain contend that this would permanently ruin Italy, already bankrupt...
...billion will not go very far in a hungry, bankrupt world. The Vinson ceiling meant that the Administration had modified its theory-possibly to get it past a doubtful Congress...