Word: businessman
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Never underestimate the ingenuity of a businessman out to make a quick buck. Last week two shipments of gray and white rubble, totaling 20 tons, were airlifted from Germany to Chicago's O'Hare International Airport. The Missouri entrepreneurs who imported the debris swear that it comes from demolished portions of the Berlin Wall. Just in time for the Christmas shopping season, they will split it into 2-oz. chunks to be sold, along with an "informative booklet and a declaration of authenticity," for $10 to $15 in gift shops and department stores...
Keating, the Phoenix businessman who is accused of using Lincoln as a private casino, is emblematic of the nation's $300 billion-plus S & L disaster. But he has no dearth of accomplices. There are the so-called Keating Five -- Senators Dennis DeConcini and John McCain of Arizona, John Glenn of Ohio, Donald Riegle of Michigan and Alan Cranston of California -- who received $1.3 million in contributions from Keating and went to bat for him against federal regulators. The five sank deeper into trouble last week when the Senate ethics committee appointed outside counsel to investigate. The FBI also expanded...
Aska International, the Tokyo art gallery that spent $25 million at the Dorrance sale, is controlled by Aichi Corp., a Tokyo firm that last September became one of the five largest shareholders of Christie's stock, with 6.4%. Aichi, in turn, is controlled by Yasumichi Morishita, a secretive businessman who got a one-year suspended sentence in Tokyo in 1986 for securities fraud. Morishita is reputedly worth a trillion yen ($7 billion), and may be planning a takeover of Christie's -- although it is unlikely that the Monopolies and Mergers Commission would approve...
That is why the scandal involving five U.S. Senators and the Arizona businessman who gave them more than $1 million is tantalizing: the smoking gun is being waved for all to see. Charles Keating is a former owner of California's Lincoln Savings and Loan and a defendant in a lawsuit involving racketeering, fraud and conspiracy in using the institution's funds. After the smoke clears, bailout of this S&L is expected to reach $2.5 billion, making it the nation's costliest thrift failure. When asked whether his fat contributions to the five Senators influenced them to take...
...President's greatest achievement has been to increase discipline in his 65,000-man army, which includes former rebel troops. Says a Kampala businessman: "Gone are the days when you had to hide your car from greedy soldiers and carry cash in your pockets to pay them off when they stopped you." Amnesty International reported that although there are still problems of torture and arbitrary detention, "the army is more subject to the law now than at any time in the last 20 years...