Word: bargain
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Dates: during 1990-1999
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...ailing U.S. companies collapse beneath the debt they assumed in the Roaring Eighties, a new breed of vultures has begun to swoop down on the corporate carcasses. The predators include sharp-eyed lawyers, investment bankers and bargain hunters who have parlayed the business of profiting from failure into Wall Street's hottest growth industry. Ironically, many of the same financiers who loaded companies down with debt are now cashing in on the overleveraged firms' troubles. Not since merger madness first hit corporate America in the mid-'80s has so lucrative a financial field opened up so swiftly. Says Robert Miller...
...Americans reacted with shock and indignation. Last week it was Exxon's turn to be shocked. U.S. Attorney General Dick Thornburgh announced that the company had been indicted on five criminal counts stemming from the March 1989 oil spill. That action, which reportedly followed the breakdown of a plea bargain that Alaskan officials opposed as too lenient, could cost Exxon $700 million in fines if the company is convicted. Said Thornburgh: "We intend to see that the laws are fully and strictly enforced...
...then found that the Senate, already embroiled in the post-Civil War quarrels that would lead to the impeachment of President Johnson, refused to ratify "Seward's Folly." Only after Stoekl spread substantial sums of money among influential Senators did the legislators suddenly see wisdom in the spectacular bargain...
...annual cost of approximately $10,000 a student); in exchange, they would agree to serve four years as local police officers after graduation. Fully funded, the program would set the feds back about $1.2 billion a year. Once sworn in, the four-year cops would be a bargain. The localities they serve would pay their salaries but in most cases could avoid paying their pension benefits and seniority raises down the line. Over the long term, corps members would cost far less than career officers -- perhaps a third less in union-strong cities like New York...
...Guide and People magazine to solicit tapes for his first special last November. Now submissions are pouring in at the rate of up to 2,000 a day. The tapes are screened by an overworked staff of 15. Though labor-intensive, the show is a relative bargain to produce: even after giving away a $10,000 prize for the best scene each week, the program costs less per episode than an average sitcom. "The whole idea of this show," says Di Bona, "is to have America produce...