Word: bankrupted
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Dates: during 1980-1989
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...conservative government of Prime Minister Edward Seaga discovered shortly after its election last October that it desperately needed $100 million in operating funds. Seaga passed the word to a group of visiting U.S. and Venezuelan businessmen who were looking at ways to revive the island's near bankrupt economy. Shortly thereafter, Jamaica received a $50 million grant from a confidential Venezuelan government discretionary fund that may total as much as $500 million. An additional $50 million from Venezuela is now being funneled into the island, earmarked for road and airport development, housing, water supply and electrification...
...Have we heard this story before? Only once, at each of the best ice-cream shops in the world. Are some of these people turning up the air pump ever so slightly on the truth? Of course not; it is all true; the faltering U.S. airline industry would be bankrupt if it were not for thousands of gluttonous eccentrics, exiled from their home towns, freighting the world's best ice cream back and forth...
...handled swiftly and skillfully by the Administration to limit the damage. Max Hugel, a millionaire merchant with no visible qualifications to hold his post as director of clandestine operations for the CIA, had been publicly accused of illegal stock manipulations by two vengeful Wall Street brokers who had gone bankrupt trying to promote stock in Hugel's former business. Denying any wrongdoing, Hugel nevertheless promptly resigned as the CIA's deputy director of operations and was quickly replaced by a career CIA operative, John Henry Stein. Sighed a White House aide with relief: "The matter is closed...
...presidential primary campaign, the director's own business ethics will be scrutinized by Senate Investigators. They came under question in a civil suit filed against him in 1974 by investors who had lost heavily when a New Orleans-based agricultural firm of which Casey was a director went bankrupt. Casey had disclosed the existence of the lawsuit on a routine form sent to the Senate Intelligence Committee after his confirmation hearings last January, but the committee did not question him about it. Last week it was revealed that a New York federal judge had found merit in other directors...
Multiponics went bankrupt in 1971, and Casey lost most of his investment. Reviewing an attempt by Casey and other directors to reorganize the bankrupt company a year later, District Judge Herbert Christenberry in New Orleans also had concluded that they had driven the corporation "deeper and deeper into debt" by managing in a "pattern of self-interest." A puzzling irony in Casey's involvement in the lawsuit is that it involved questionable dealings in sales of stock-and he was considered such an expert on these matters that he was made director of the Securities and Exchange Commission...