Word: bankrupting
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Dates: during 1980-1989
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...young investment banker I know went bankrupt not long ago. He had let his debts get the better of him and had gambled recklessly in the market. But he was of essentially good character and excellent financial prospects, so if only his creditors had borne with him until he got his bonus, everything would have been fine. "Sure, sure," said three of his creditors, who had heard it all before. They forced him into bankruptcy over $60,000. Six months later, he got a quarter of a million dollars bonus and paid off all his creditors except the three. When...
...wants to buy a $300,000 house in Connecticut with $100,000 down. Have you tried getting a mortgage after going bankrupt? Never mind the circumstances or the size of your down payment; almost no bank will touch...
...deal collapsed as if it had been hit by wind shear. Just five days after announcing his $464 million takeover of strikebound and bankrupt Eastern Air Lines, former Baseball Commissioner Peter Ueberroth abruptly delivered a very different message last week. Said he: "Our agreement with Texas Air is terminated, it's finished, it's over...
...microphones during a Manhattan press conference last week, Peter Ueberroth looked every inch the Designated Hero. Frank Lorenzo, the embattled chairman of Texas Air, had just announced that an investor group headed by the boyish-looking former commissioner of major league baseball will buy strike-bound and bankrupt Eastern Air Lines for $464 million. Celebrating Ueberoth's move in a Miami union hall where they heard the news, boisterous Eastern machinists began singing Take Me Out to the Ball Game. The initial response of striking employees to their prospective new boss held promise that Ueberroth may be able...
...Sadovaya Ring Road in the Soviet capital. Fedorov pays himself about 850 rubles ($1,360) a month, nearly four times the average Soviet salary. But he works twice as hard as he ever did as a government employee. "If I don't have customers," he says, "I'll go bankrupt...