Word: bonding
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Nevertheless, Jamison was eager to stand on her own, and she left the Ailey troupe in 1980. But the mystical bond between them never weakened. So in 1988, when Ailey, ill with a rare blood disorder, invited Jamison to accompany him on what would be his last tour, she didn't hesitate. Between rehearsals, performances and travel, Ailey prepared her to carry on his legacy. She became artistic director of the Alvin Ailey American Dance Theater less than three weeks after his death...
...turf of banks is asset-based lenders like Congress Financial, in New York City. These firms, which lend money to companies based largely on the value of the borrower's collateral, have tripled their loans outstanding to more than $100 billion over the past five years. Even the junk-bond market has bounced back as a source of funds for U.S. companies...
...Chevron -- staged devastating layoffs. Although citizens liked to boast that Fort Madison was "a place where you can raise kids," many drifted away; since 1987 the town's tax base has dwindled 20%. To attract Goldstein and his $10 million Emerald Lady, Fort Madison floated a $2.2 million bond issue that financed a waterside pavilion, a walkway and parking lots. In return, city fathers expect annual revenues of as much as $300,000 -- if the venture succeeds...
...This week in Santa Barbara, citizens will vote on a special bond issue to link the city to the state water system. The choice is difficult because while state-supplied water would help relieve severe drought conditions, it might also encourage a burst of unwanted new development that many residents fear could turn the exclusive coastal enclave into a Los Angeles suburb...
...goes financial procedures of most insurers, Executive Life had blazed a fast track to spectacular growth, grabbing market share by offering higher payouts on annuities and charging lower fees than most of its competitors. To meet its growing obligations, the insurer plunged headlong into the high-yield bond market controlled by Drexel Burnham's Michael Milken and puffed up its $10.1 billion asset base with $6.4 billion in risky junk bonds. Once the junk-bond market fizzled in 1989, First Executive Corp., Executive Life's holding company, began to sustain huge losses. California insurance officials are now investigating other large...