Word: bankrupting
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Dates: during 1980-1989
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...principal stumbling block to the adoption of loosely planned economics. For Reagan, Britain's Margaret Thatcher, and to a lesser extent West Germany's new chancellor Helmut Kohl, such a policy stinks of socialism. Yet the "isms" of yesterday seem particularly irrelevant today. Socialism in the East is bankrupt: people are not adequately fed, housed or provided for, Western capitalism seems equally out of breath, insensitive to the cost in human terms of successive crises. The future lies in a break from the constraints of ideology and the embrace of a new, non-sectarian system...
...traditional smokestack industries are reeling from foreign competition, surging high-technology companies are leading the world in innovation. Though hundreds of thousands of blue-collar assembly-line workers have lost their livelihoods, white-collar engineers have had their pick of high-paying jobs. Last year 25,346 businesses went bankrupt, the most since the Great Depression, but 566,942 new companies opened their doors. Says Delaware Governor Pierre du Pont IV: "The transformation of our jobs, the movement of our people, the improvements in our skills over the first 80 years of this century have been stunning...
...Swedish car manufacturer: "Europe has grave problems-no growth, more people without jobs, little investment and sluggish productivity. Europe is not creating new resources, but is declining under the pressure of increased competition. When things are dying, we do not let them die any more. Companies do not go bankrupt the way they used to do. We try to restructure, preventing the creation of dynamic new industries...
...year to the day after bankrupt Braniff International Corp. ceased flying, Chairman Howard D. Putnam, 45, last week announced that the airline hopes to be back in the skies this fall. After weeks of dickering, Hyatt Corp., the Chicago-based hotel chain, agreed to put up as much as $70 million in exchange for 80% of Braniffs stock. With luck, Braniff could return to service...
...deal with Hyatt was originally suggested by two of Braniff's retired pilots. When efforts to find someone to rescue the airline dragged, they pitched the idea to Hyatt Chairman Jay Pritzker, 60, who calculated that Braniff's hefty losses before going bankrupt could be worth some $300 million in tax credits to Hyatt. The agreement was completed just in time. The clock was due to run out on Braniff's flying future this week, and the company would have been turned into a small-aircraft maintenance firm...