Word: bonding
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Until the Whoops debacle, the biggest bond defaults had come in the private sector. The Penn Central ran out of cash bonds June 1970, forcing it into what remains America's biggest bankruptcy: $3 billion in liabilites, including $1 billion worth of bonds...
Even if the court actions fail, some of the paper still has value. A Hukuang Railroad bond for 20 gold pounds ($96) that is in good condition is worth from $50 to $100 as a collector's item...
Glucksman, a burly stock-and-bond trader, joined Lehman Bros, in 1963. He is known around Wall Street as a workaholic who often arrives at his desk before 6 in the morning and rarely leaves before 6:30 at night. "We all knew that his entire life was dedicated to one day running the firm," recalls a former colleague. Glucksman said last week that he was "grateful beyond words" to Peterson for "the wisdom and understanding he has consistently displayed during the years of our close cooperation." He added, "We've been good friends, and we will always...
...West, when a sheriff could afford to ride only so far from town in pursuit of a criminal, bounty hunters acted as de facto freelance deputies, collecting rewards for bringing back fugitives. Times have changed, but the bounty hunter survives, working now for bail-bond companies eager to capture bail jumpers. True to tradition, local authorities still ask few questions about the methods used in returning a suspect to their jurisdiction...
...posted in bail, the Accredited Surety & Casualty Co. decided not to wait for a formal extradition request and instead sent Timm Johnsen and Daniel Kear to Toronto to bring Jaffe back. Like most modern-day bounty hunters, Johnsen and Kear figured they would earn 10% of the bond, in this case $13,700, plus expenses and a bonus...