Word: bonde
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Dates: during 1980-1989
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Please initiate action to notify the general public that Saving Bond chain letters are prohibited and violate Treasury and Postal regulations of New England state laws...
Lawyers for both sides showed up last week at a Houston appeals-court hearing, which had been mandated by the Supreme Court decision, on whether Texaco should be required to put up a bond for some $10 billion while continuing to appeal the 1985 Texas judgment. Protecting itself from such an appeals decision had been a vital factor in Texaco's decision to flee into bankruptcy. The Houston hearing was stayed after Texaco lawyers argued that the Chapter 11 filing triggered an automatic halt to other legal proceedings. Pennzoil officials said they might challenge the bankruptcy petition, but at week...
Quite the contrary. Taking advantage of liberalized bankruptcy laws enacted in 1978, which no longer require corporations to demonstrate that they are insolvent, the oil giant is immune, for the moment, from far more than the debilitating bond judgment. Pennzoil can no longer slap liens, as it was reportedly preparing to do, on up to $8 billion in Texaco assets. With $3 billion already in reserve, Texaco no longer has to pay $630 million worth of annual interest on $7 billion in normal business debts. Nor is it required to pay dividends on 242.3 million outstanding common shares, an estimated...
Lenders laid the blame for the increase on the bond market, where interest rates have risen sharply in recent weeks in reaction to the widening U.S. trade deficit and the falling value of the dollar. Home loans are now more sensitive to volatility in such markets because of a trend known as "securitization." That is a process in which lending institutions repackage their home loans as securities for resale to other investors rather than collect interest and principal themselves. The practice makes mortgage rates more sensitive to economic flare-ups. Even so, most financial experts contend, securitization keeps home loans...
Financial advisers are divided about whether a postreform IRA makes sense for people who can no longer claim the full $2,000 deduction. Some money managers point out that the same limited tax break can easily be found in a tax-exempt municipal bond. Unlike the IRA, it imposes no penalties for early withdrawal. But some workers, at least, are still happy with the prospect of a stripped-down IRA. Richard Brody, 57, a New York City-based department-store buyer, plans to contribute to his retirement account next year even though he will be entitled to no tax deduction...