Word: bonding
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...destruction of Drexel at some point became inevitable. I'll accept the responsibility, and if I knew we had done things that were wrong, I would accept blame. What happened was a confluence of events, starting with the federal investigation ((of Drexel's junk-bond department)) and hitting a climax when the firm was forced to plead guilty and pay what we thought were unnecessarily high penalties (($650 million)). Congress then changed the rules by requiring savings and loans to sell their high-yield bonds, and the market for those securities fell. Then Drexel faced yet another rule change, when...
Hearing such personal, even introverted music making such a commercial impact is like a time trip back to the late '60s. Indeed, O'Connor's writing (with few exceptions she does both music and lyrics) strikes a strong spiritual bond with Van Morrison, who is Irish, as she is, and who uses rock, as she does, as a vehicle for self-examination and psychic speculation. O'Connor, 23, speaks with reverence of Morrison but adds, with subdued asperity, "I don't particularly want to have any Irish connection. I hate 'scenes' of any kind. I'm just a girl...
...breakthroughs in the study of gravitation and cosmology. Yet the man who holds the prestigious Cambridge University professorship once occupied by Sir Isaac Newton was overwhelmed by the sheer size and complexity of the machine before him. Joked Hawking: "This reminds me of one of those James Bond movies, where some mad scientist is plotting to take over the world...
Canny corporate raiders know there is more than one way to fell an obstinate opponent. Throughout the 1980s the knockout blow was typically delivered in a high-stakes takeover battle, with much fancy legal footwork and powerhouse debt financing. But in recent months the collapse of the junk-bond market and the passage of anti-takeover laws in more than 30 states have forced a switch in tactics. Now the savviest challengers are clambering back into the ring with an old-fashioned approach to kayoing corporate management. The new arena: the annual stockholders' meeting. The main event: the proxy fight...
...York's bond ratings tumbled to 48th in the nation, a survey ranked the state 43rd in financial management, and a budget crunch has prompted talk of tax hikes. Cuomo is only one polluted harbor away from becoming the next Michael Dukakis...