Word: bankrupter
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When the going gets tough at the top in Zimbabwe, the top tough throws a party. Last week, as his government expelled two foreign journalists, President Robert Mugabe faced a new wave of international censure. His country bankrupt, its judiciary in tatters and the press and the opposition under increasing harassment, Mugabe threw himself a three-day 77th-birthday bash at Victoria Falls...
...spare a thought for what Europe and North America have created together since 1945. Faced with a bankrupt continent torn apart by war twice in a generation, the allies built democratic governments and smothered their ancient hatreds under new institutions like the European Community and nato. They used free trade and galloping technology to grow rich together. They contained a cunning, implacable Soviet Union. And as that evil empire imploded, they managed a soft landing: Germany's unification, nato's expansion eastward, Russia's evolution into a more or less friendly rival, the spread of peace and freedom (imperfectly...
...growth in the U.S. Board member Robert Hormats, vice chairman of Goldman Sachs International, reached back to the 19th century to make the point. "In the 1880s, the U.S. built 70,000 miles of rail," he said. "In the 1890s, 40,000 miles of that 70,000 miles went bankrupt." Yet that infrastructure powered growth in the early 20th century. Likewise, the beating so many tech stocks took last year is only half the story. The tech revolution is still a fact...
This fall, the Curleys brought a $200 million lawsuit against NAMBLA, which is being defended by the American Civil Liberties Union (ACLU). The parents hope to bankrupt the group, thus forcing them to shut down. The ACLU has claimed that constitutionally, this is an "open and shut case," and has asked the judge to throw it out. This case, and the notion that a NAMBLA victory would allow the organization to continue to distribute their filth, is enough to make any conscionable person sick. It may be an "open and shut case," but not in the way the ACLU interprets...
...mysterious new company of aviation experts and investors that calls itself Jet Acquisitions Group entered the TWA sweepstakes Wednesday, making a $6 billion offer for the carcass of the going-bankrupt airline that nearly doubles the offer made last month by American Airlines...