Word: bankrupter
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Dates: during 1980-1989
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...size of your balance, it's how you use it. Harvard uses its money well, to support the activities of the free world. If it took its money away, the global economy would be bankrupt. You, on the other hand, support only people who make sandwiches. Which is more important--the whole world, or sandwich makers...
...donations to PTL, which ran as high as $45 million in 1984, will no longer be tax deductible for the givers. That could make it impossible for the bankrupt organization to raise funds to pay off some $72 million that is owed to creditors. Beyond that, the IRS had earlier claimed that PTL owed $55 million in back taxes. Can PTL survive? Said U.S. Bankruptcy Judge Rufus Reynolds: "There's no chance whatsoever...
...back, but not six times what you put in." Unless the system is revamped, he warns, when the baby boomers reach retirement age, Social Security will be in jeopardy. Just as alarming, the trust fund that supports the hospital-insurance part of Medicare could be bankrupt...
...often boasted of his influence in Washington, claiming that "I'm Meese's boy." He was indicted on various charges, including fraud, in December by a federal grand jury in Manhattan. One accusation: he took illegal payments for trying to influence Meese in winning military contracts for Wedtech, the bankrupt New York manufacturing firm. That was trouble enough for the beleaguered Attorney General, who has appeared five times before McKay's grand jury. On Friday McKay visited the White House to tell senior officials that his investigation of Meese had grown more serious...
...rolls up his sleeves. Icahn, 51, is a quick learner who is imposing his no-frills ethic on some of the largest and most troubled U.S. corporations. Right now, the unflappable Icahn (estimated net worth: $700 million) is simultaneously juggling three daunting turnaround projects: the born-again TWA, the bankrupt Texaco and the resurgent USX. Icahn's demonstrated management know-how has made him perhaps the most credible of U.S. raiders, one whose spartan style of running a company is both inspiring and chilling for corporate America...