Word: bankrupting
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Dates: during 1980-1989
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ALMOST 1000 angry students gathered in front of Memorial Church on a bitterly cold winter evening three years ago. They were protesting then-President Jimmy Carter's recent reinstatement of draft registration and the bankrupt, militaristic foreign policy it reflected...
...drop in inflation and a sluggish economy have brought some relief to hard-pressed business borrowers, who lately have been going bankrupt in the greatest numbers since the 1930s. But there may not be much additional good news on interest rates for a while (see box). Despite some encouraging signs, TIME'S board members found the economy to be still weak and the recovery to be somewhere in the future. In May, when the board last met, members thought that the Reagan Administration's July 1 income tax cut would spur consumer spending and push growth...
DIED. David Dubinsky, 90, visionary president of the International Ladies Garment Workers Union from 1932 to 1966; of complications following hip surgery; in New York City. A 1911 refugee from tsarist Poland, he took over the l.L.G.W.u. when it was nearly bankrupt and quickly built its strength until he was able to negotiate the first 35-hour work week and all but ban sweatshops in the garment industry. A volcanic anti-Communist liberal, he also established the first employer-financed workers' vacations, the first health and welfare fund, the first workers' retirement fund and the first severance...
Koch, in his single-minded obsession with producing balanced budgets and a "healthier" city economy, underestimated the human impact of his policies. he justified harsh cuts in the budget by reminding critics that the city nearly went bankrupt in 1975. Between 1979 and 1981, he cut $29 million from the police department's budget, and serious crimes rose in New York last year while the rest of the country saw a 2 percent decline. He continued a policy of deferred maintenance" of subway trains, and the frequency of breakdowns tripled under his administration while fares rose by 25 percent...
...THOSE thrown out of work and those unable to compensate for economic misfortune is often a question of saving lives, a fact the President has ignored since taking office. While generals and planners were analyzing the performance of multi-billion-dollar weapons this summer and preparing budget requests, a bankrupt Ohio businessman named Antonio C. Garza took his wife. Kay, to make a new start in Texas. San Antonio police found the couple shot dead in the front seat of their car: Garza apparently killed his wife with a rifle before taking his own life. Near the bodies were bankruptcy...