Word: bankrupts
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...Last week Beame took a step toward austerity by sending the first dismissal notices to some of the 3,067 employees who will be laid off by July 1. His belated but sensible action promises to be the beginning of a painful process of retrenchment for the near-bankrupt Empire City...
Frelimo officials have also ended the numerous strikes that disrupted the economy at the beginning of the decolonization period. In some cases, ballooning wages have been cut back to former levels to keep companies from going bankrupt...
...granted him a temporary moratorium on its payments. Now rumors are growing that because Rosenbaum is unable to raise money to pay his debts, which are estimated to be about $136 million, the Swiss may soon lift the moratorium. In that case, the bank would collapse, Rosenbaum would be bankrupt and the thousands of investors and depositors in I.C.B.-mostly Jewish-would probably lose virtually everything that they had put into the bank...
...Prime Minister Takeo Miki points out that "Chisso wants the loan to pay not for the consequences of pollution but to repair its damaged production system." Then, too, says Labor Leader Kaoru Ohta, if Chisso were to go bankrupt, there would be no compensation for the remaining Minamata victims-nor would there be jobs for the company's 1,500 workers and those of its subcontractors. "PPP is fine with me," Ohta says, "but the government should grant that loan." Even if it does, however, Chisso for a long time to come will have to contend with a fourth...
...disaster unparalleled in the nation's history" into a self-sufficient system within this decade. Under the plan, a private but federally backed company called Consolidated Rail Corp. (Conrail) would carry out the largest corporate reorganization in history: it would take over and consolidate the operations of the bankrupt Penn Central and six other troubled roads. Conrail would lop off about 30% of the combined roads' rail network, unless affected states could come up with 30% of the required subsidies. It would also spend more than $9.3 billion in federal and private funds in a 15-year rehabilitation...