Word: bankrupts
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...developer cities" just to the west of Fort Lauderdale have encountered the dark underside of extravagant growth. The recent recession slowed the boom, leaving the skeletons of half-completed communities and a number of bankrupt builders. Now, says Fort Lauderdale Mayor E. Clay Shaw, "we have gone to enforced land-use planning at the county level. We've put population caps on certain areas. We've stopped bargaining among landowners. There have been some building moratoriums because of overworked sewerage facilities...
...Canada Southern Railway Co., a Penn Central subsidiary, declared a $60 dividend-larger even than the $41 price of the stock itself-apparently to keep a $9 million cash reserve fund out of the hands of Conrail, the Government corporation that takes over the Penn Central and six other bankrupt railroads on April 1. A company spokesman said the timing of the dividend was coincidental but implied that Conrail was entitled only to the railroad's physical assets and not the cash reserve fund. The payout faces a certain court challenge; Conrail had made it clear that it would...
...points of controversy will be trivial reforms--the "compact of permanent union" and Hernandez Colon's austerity plan--not the real question of how to create employment and economic growth without increasing inequality. The victory of either major candidate will mean four more years wasted attempting to resuscitate a bankrupt approach to development...
...policies have been justified with precisely the same rationalization. President Bok's resurrection of this thesis in light of Harvard's history is yet another example of his desire to keep the fox in charge of the chicken coop as regards the rights of women and minorities. Bok's bankrupt concept of self-policing is at the heart of his long-run strategy for dealing with affirmative action; in the short run, he seems to hope that simple evasion will suffice...
...further disruption of the economy, the PRG has only nationalized the businesses of those who left the country with the Americans. Like the North Vietnamese government, the PRG is willing to work with those local capitalists willing to cooperate with it, allowing restricted profits and providing capital to bankrupt businesses. At this point, production and employment opportunities are more important than a strictly state-owned industrial sector...