Word: bondses
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In many cities, a mother whose newborn tests positive for cocaine is given a choice: enter a treatment program or give up the child. This ultimatum can work surprisingly well, provided that a good program is available. Margaruite Custode was offered the choice between jail and treatment last June and...
The first known encounter with a buckyball was recorded in 1985 by Richard Smalley, a chemical physicist at Rice University, and Harold Kroto, a British chemist from the University of Sussex who was visiting Smalley's lab. The two scientists were studying what would happen if they heated carbon vapor...
Executive Life's failure -- the industry's largest yet -- comes when many insurers are burdened with large investments in mortgages and junk bonds that have gone south. But aggressive Executive Life is far worse off than most.
Carr, 60, is a Los Angeles native who pumped gas part time until he was 32, and he has 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...
"Your Chairman displayed exquisite timing," he writes about his purchase of a large stake in USAir. "I plunged into the business at almost the exact moment that it ran into severe problems." Buffett also notes his purchase since late 1989 of $440 million of RJR Nabisco junk bonds. A crazy...