Word: bonding
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...months ago, as photographers nagged him to hold his impatient wife tenderly for one more picture, Nelson Mandela took Winnie's hands and pressed them into his. "She'll do it for me," he said. "I'm the only one who can control her." That episode illustrated the deep bond uniting South Africa's two most prominent antiapartheid activists and the anchored strength it has given to their turbulent lives...
...been asked for an article on the quincentennial of his first voyage from her people's perspective. He is laptopping an epic poem on the great explorer. In pursuit of Columbus' lost diary, Roger and Vivian fly to Eleuthera in the Bahamas as guests of a junk-bond financier on the lam. This quasi Milken thinks Vivian knows the secret burial site of a golden crown that Queen Isabella gave Columbus. But what if it was a crown of a different kind...
...tried hard to make up for lost time. As an insurance entrepreneur he disdained the slow, steady process of writing policies and building reserves through careful investments to cover eventual payouts. Instead he built the company with sizzle and flash, turning in the 1980s to the high- yield junk bonds sold by Drexel Burnham's Michael Milken. Of Executive Life's $10.1 billion in assets, $6.4 billion is junk. Says Henri Bersoux, a spokesman for the American Council of Life Insurance: "No other company of that size or larger has invested so much of its assets in high-yield bonds...
...measure of financial relief for Perelman, who acquired control of Revlon for $2.7 billion in a bitter 1985 takeover fight. To expand his cosmetics empire, Perelman subsequently paid some $300 million for Max Factor in 1986 and about $170 million for Betrix in 1989. Now, to pare his junk-bond debt, he has begun selling assets as fast as he once acquired them. What might be next? Perelman's advisers said the erstwhile raider could soon put on the block such tony cosmetics brands as Princess Marcella Borghese and Charles of the Ritz...
...kids; some parents, out of ignorance or indifference, tolerate mediocrity in their local schools. And some are simply unwilling to pour money down what seems to them to be a black hole. In Gwinnett County, Ga., voters were so disgusted at junketing county commissioners that they voted down a bond issue for schools. They feared that the money would be wasted -- and besides, many argued, having computers in the classrooms was a frivolous expense...