Word: contractor
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Bilzerian is leaving Singer, a defense contractor that manufactures weapons- control systems, in poor financial shape. To pay off more than $1 billion he borrowed to acquire the company, Bilzerian sold eight of the company's twelve divisions. A group of 9,000 retirees has filed a $235 million lawsuit against the company, accusing Bilzerian of plundering Singer's pension plan. The U.S. Government is suing the company for defense-contract fraud, seeking $231 million in damages...
Florida real estate investor Paul Bilzerian was determined to become a successful corporate raider. In 1985 and 1986 he attempted, and failed, to take over four different companies. In early 1988 the 38-year-old maverick managed to acquire defense contractor Singer by bidding for it when no one else would, right after the stock-market crash. Last week, however, Bilzerian finally made what will probably be his most lasting mark on Wall Street. In the first jury verdict to arise out of the Government's three-year crackdown on insider trading, Bilzerian was convicted on nine counts of securities...
...city hall rest rooms. The city cannot even afford new bulbs for its traffic lights. Parking meters work, but nobody feeds them because there is no money to hire meter maids. Garbage collection stopped for several months after the city fell $262,000 behind in payments to its trash contractor, and remains sporadic at best. Residents routinely dump garbage in vacant lots or abandoned buildings. As fast as buildings are boarded up to stop looting and dumping, thieves steal the plywood. Bob's Board-Up Service in St. Louis no longer accepts jobs in East St. Louis because customers there...
...east, in Beverly Hills, a Japanese surgeon has dismantled Ronald Reagan's former bungalow, donated the pieces to charity and erected a Moroccan palace with five domes, an art gallery, ten baths and two reflecting pools. "We would have liked larger reflecting pools, like the Taj Mahal," explains general contractor David Conrad, whose desk is a marble slab that was once Reagan's shower, "but the street...
Hospitals generally dispose of their medical waste through incineration, either on the site, with another hospital or through a paid contractor. But legislators have said that some small hospitals fail to burn their waste properly, creating an environmental hazard when the medical refuse is dumped along with normal garbage...