Word: bond
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Dates: during 1980-1989
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Texaco has sought relief in the courts ever since a Texas jury ordered the company to pay the fine to Pennzoil in 1985. The jury held that Texaco had illegally enticed Getty Oil to break a merger agreement with Pennzoil. Last April, facing a deadline to post bond for the judgment, Texaco became the largest firm in U.S. history to file for bankruptcy protection. Texaco had offered Pennzoil some $2 billion as a settlement; Pennzoil demanded more than $4 billion. Pennzoil's price reportedly has now risen to $6 billion...
...Rolling Stone four years ago and ran in 27 installments. Since then, Wolfe has thoroughly rewritten it. The crucial change was to make the leading character a Wall Street broker (pre Black Monday) instead of a writer. "Writers are not much affected by scandal," says the author, "but bond salesmen can be ruined." Moreover, the alteration meant that Wolfe had to study the breed in its habitat, to examine its plumage, to listen to the roar of "well-educated young white men baying for money." In short, New Journalism shares much with the traditional novel of manners and society. "Realism...
Wolfe's main conceit is that the upper classes are especially vulnerable to prejudicial treatment if they lose their insulation. Sherman McCoy of Park Avenue and Southampton, the leading bond salesman at Pierce & Pierce, learns this harsh lesson when he is arrested for hit-and-run driving and plummets from a "Master of the Universe" to "the Great White Defendant," the dream of every ambitious $36,000-a-year assistant district attorney...
...trial, the judge's wife began and completed a master's degree in education. Two different jurors were married; one has already celebrated two anniversaries. All told, the court's transcribers pecked out more than 100,000 pages of testimony, the equivalent of a 33-ft. stack of typewriter bond paper...
...firm did not hold recruiting interviewsbecause of the boycott. Robert Kopp of Bond,Schoeneck and King in Syracuse, New York, said"several people signed up, then cancelled becauseof the boycott. Only one person was left, so wecancelled...