Word: bond
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...holiday shoppers. But for the workaholic Milken, the idyll ended when he received some distressing news: the company that stood by him through almost two years of Government investigations had abruptly decided to settle its case with prosecutors, effectively cutting him adrift to fight his own battle. The junk- bond king, 42, who has created billions of dollars in revenue for Drexel, made hundreds of millions for himself and ranks as the most influential financier of the decade, rushed to the offices of his attorneys. In less than an hour, the group issued a statement: "Michael Milken...
...Last week four blue-chip companies, including Dow Chemical and ^ American Express, unveiled a new financial product that could become a deterrent to corporate raiders. The firms will buy back as much as $5.6 billion worth of their shares with so-called unbundled stock units: packages that include a bond and two new types of securities. Partly because the new packages will allow the companies to pay less in taxes, investors might bid up the price of the new units. Raiders, Wall Streeters believe, might resist paying such a premium, thus foiling takeover bids...
...gumshoe, Philip Marlowe, private eye and public conscience, sitting behind his pebbled-glass door with an office bottle and a solitary game of chess. What made Marlowe special was simply the fact that he was nothing special, no genius like Sherlock Holmes, no Connoisseur model like James Bond. Just an underpaid drudge with, as one mobster says, "no dough, no family, no prospects, no nothing" -- except a habit of making other people's worries his own, and a gift for walking in on corpses he knows just well enough to mourn...
...office at 9560 Wilshire Boulevard by 4:30 a.m. each day in a chauffeur- driven Mercedes, Milken holds forth in a trading room the size of a basketball court. He has no private office, preferring to sit at one of three huge, X- shaped desks, where 30 bond traders and other workers shout into telephones and scramble to execute the orders that he barks out or scrawls on yellow legal pads. On the computer terminal next to his, a co-worker has posted a sign reading MENTAL ILLNESS IS ESSENTIAL TO SUCCESS...
Bankers, too, are taking a harder look at the risks, and some junk-bond buyers are becoming picky. While cash has poured in from such staid investors as the Harvard and Yale endowment funds and many state pension plans, other money managers are refusing to play. Says New York City comptroller Harrison Goldin, who oversees the investment of some $30 billion in pension funds: "I cannot condone activities that divert so much time and energy from investments that create new jobs and opportunities to those that reshuffle chairs. Pension-fund managers are supposed to invest in the American economy...