Word: cigare
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Dates: during 1990-1999
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...bridge-playing tycoons are much in demand for competitive events. This week the four cigar-chomping bigwigs and a few well-heeled friends will represent the American Contract Bridge League in a London play-off against a British team composed of one baroness, one lord and several other parliamentarians. "The opposition is in for problems," says Forbes. But then again, "the House of Lords probably has more time to practice...
...embodied Wall Street's gold-rush spirit of the 1980s more than Peter Cohen, the high-strung chairman of the investment firm Shearson Lehman Hutton. A short, cigar-smoking firebrand, Cohen transformed Shearson from a stolid retail brokerage into an investment-banking giant. Backed by American Express, which bought the firm for $360 million in 1981, Shearson grew from 11,000 employees to 47,000 by the mid-'80s. But Cohen's expansion drive proved unstable. Hurt by several missteps and the slowing pace of Wall Street dealmaking, Shearson's investment-banking revenue declined 27% last year, to $963 million...
...Tigers, Matt Eastwick's 15 points and Mueller's 14 points sparked the close-but-no-cigar effort, but Jackson was limited to eight points on 3-for-9 shooting...
Despite these violent disagreements about the future, there is at least some agreement about the past decade. It began in a distinctly gloomy atmosphere known as stagflation: double-digit inflation combined with growth rates of 2% or less. Cigar-chomping Paul Volcker, then the Chairman of the Federal Reserve Board, is generally credited with breaking the inflation by reining in the money supply in 1980-81. That also touched off the worst recession of the postwar era, bringing unemployment rates of more than 10% (25% in some areas and industries). President Reagan helped end the downturn by cutting taxes...