Word: bankrupting
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Dates: during 1980-1989
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...from over. A federal grand jury in Detroit last week indicted the once and possibly future automaker on new charges: mail and wire fraud, interstate transportation of stolen money, and income tax evasion. The accusations stem from his handling of the finances of DeLorean Motor Co., which went bankrupt in 1982. Investigators charge that DeLorean, 60, bilked his backers out of $8.9 million...
...times have we heard that student aid cuts would "devastate" higher education as we know it? How many times has Caspar Weinberger '38 informed Congress that one, less dime for defense will surely invite a Russian invasion? And how often do we hear that any cut in the near-bankrupt Social Security program would loss those over 60 into the streets? Every group depending on the government for its livelihood claims that any cuts in its programs would devastate everything this nation stands for obliterating valued traditions and long-held values...
...felt in love with rescues. In 1970, he attempted to rescue two bankrupt computer companies. Again, the attempt failed, and in a period of a month, stock in EDS dropped from $41 a share to $3.75. He lost a billion. It was the biggest one-time loss in American history...
...early 1970s, he dropped that of the limelight, for awhile, slowly building his near bankrupt company back into prominence. By undercutting and innovating, he started to win contracts with the military...
Airlines that fail to slash costs during the next several years may wind up bankrupt, as Air Florida did last year, or be forced into a merger with more aggressive partners. One of the most likely candidates for a takeover, or even demise, is Pan Am, which has lost some $770 million since 1981. Though the company bought more time for itself by selling its Pacific routes to United, it has almost nothing left to dispose of without going out of business...