Word: crashing
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Dates: during 1990-1999
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...judges seemed most interested in his contention that a freelance British photographer who covered the royals had regularly briefed MI6 on Diana?s doings. The judges are trying to learn the identity of a mustachioed English-speaking photographer who was at the Ritz Hotel the night of the crash, and they may have hoped that Tomlinson could shed light on the possibility that an MI6 agent had been following Diana that evening. The judges expect to wrap up their investigation by late October...
Despite the bloodletting, though, traditional measures still show the market to be more expensive than at any time before the current cycle. The S&P 500 dividend yield, which stood at 2.6% on the eve of the 1987 crash, has dropped to 1.5%. The S&P's price-earnings ratio, or P/E (based on expected earnings), is 21--down from 23 in July but still much higher than the previous peak of 19 in 1991, according to earnings tracker First Call. Meanwhile, market leaders still sport bubble-like P/Es: Coca-Cola, where unit sales are growing about 8% a year...
...should total about 20, as it has for most of the past 40 years. With inflation running at 1.7%, today's reading is 23, and when calculated using reported rather than expected earnings, it jumps to 29--well above the 26 reached on that basis just before the 1987 crash, notes analyst Richard Bernstein at Merrill Lynch...
LONDON: If the tragic death of Princess Diana has done nothing else in the past year, it has kept a lot of lawyers very busy. The official crash investigation is far from over, and investigators will soon be hearing from the manager of the Paris Ritz. Trevor Rees-Jones is considering a suit against Mercedes-Benz over airbags that may have exploded too early. And fellow bodyguard Kes Wingfield is to take Mohammed Al-Fayed to an industrial tribunal next week, claiming he asked Wingfield to back up his views that Di and Dodi died at the hands...
...Ironically, Al-Fayed is no longer blaming British intelligence for the crash -- he's decided Rees-Jones and Wingfield are responsible. The Harrods boss blasted his former bodyguards in an exclusive interview with TIME: "They are the people who caused the devastation and the accident through their incompetence and unprofessional practices," he says. Should security practice at the Ritz become the center of the investigation, Al-Fayed's about-face may turn out to be a bid to find culprits who, conveniently, no longer work for him. It's not hard to wonder what Diana would think of these legal...