Word: bankrupting
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Borrowing short-term money to finance long-term needs is not only expensive but inherently risky because the loans must continually be renewed at high rates. Financial experts fear that many small and even some big corporations, unable to continue borrowing, will go bankrupt. Their demise in turn may shake some thinly capitalized banks that will be stuck with "problem" loans. Says Don Jacobs, dean of the Graduate School of Management at Northwestern University: "We are headed for a paralysis of the financial markets. We will see red ink throughout the financial industry. It could be a disaster...
...least four smaller bond-trading houses have gone bankrupt since October, but the biggest losers are the bond buyers, which range from huge pension funds to modest-income individuals. The investment banking house of Morgan Stanley estimates that bond values have plunged by more than $500 billion in the past six months, a drop of about 20%; an equivalent slide in the stock market would have sent the Dow Jones industrials down by about 160 points. Last fall investors paid $1 billion to buy new IBM bonds; they are now worth about $750 million...
...more cleverly or profitably turned social issues into prime-time TV entertainment than Norman Lear and Alex Haley. Without Lear's All in the Family and Haley's Roots, network television in the 1970s might nearly have been bankrupt of innovation. To kick off the new decade, Lear and Haley have joined forces to undertake what could be their most exciting project yet: Palmerstown, U.S.A. is a new series that aspires to combine the historical sweep of Roots II with the activist humor of Lear's best sitcoms. Still, a lot of hard work lies ahead. Though...
...Mark Emond, editor of the authoritative oil publication the Lundberg Letter: "It takes a huge credit line; it takes a relationship, or influence, or something." In other words, it is quite easy to cut fuel prices if you have political clout, a large credit line and access to a bankrupt oil refinery. It also helps if your name is Kennedy...
...alone ?when people rose to crush the imperial regime and establish an Islamic republic ?this criminal killed more than 60,000 and maimed more than 100,000 of our people. During his reign, the Shah made us economically dependent on the U.S. and turned Iran into a bankrupt state. Our industry is dependent on the West. He has destroyed our agriculture. Politically, he toed the U.S. line and placed Iran in league with the oppressors and tyrants. The Iranian position in international forums during the reign of the Shah clearly demonstrates this fact. Even when the Shah...