Word: cutting
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Dates: during 1990-1999
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...highbrow site Salon when public yesterday the image was a flat flounder. Key was Salon's pioneering participation in a Net experiment that uses a Dutch auction to set the IPO price before trading. The Dutch format helped kill any big first-day run-up but it also cut out the Wall Street middlemen. Early shareholders may have missed out on a Net IPO bonanza, but Salon is laughing all the way to the bank...
...Evil-like plan to blackmail the United Nations into slashing its bureaucracy. Instead, they?re coughing up one billion dollars in back dues, and taking the money out of the back end. The Senate voted 98-1 on Tuesday to release the back dues and cut the U.S. contribution to the organization?s budget to 20 percent from 25 percent. TIME U.N. correspondent William Dowell says the change of heart ?- adopted by Democrats after Clinton went along ?- has a lot to do with Slobodan Milosevic. "Kosovo showed the importance of the U.N. in building an international consensus for action...
...likely to kick up a fuss over the pay cut, but Dowell reminds that the U.S. share was established after WWII, when the U.S. was the only country in town with any money. "Europe should start kicking in some more -? they can afford it now," he says. And some of that saved money will go to another of the bill?s outlays, $3 billion over the next five years to beef up security at U.S. embassies. The measure next has to go to the House, where it passed last year before being vetoed by the President, who was angered...
...reserves as collateral defaulted to the banks. Midland's economy folded like a bad poker hand. Bush had always followed conservative business practices, and since he'd had his network of investors to tap, his debt exposure was less than that of many others. He took a 25% pay cut, and his staff took smaller ones. But soon he realized that unless he found a buyer, it was just a matter of time before Spectrum died...
SLUDGE REPORT Eye-opening news for coffee addicts: data on more than 45,000 men show that two or three cups of coffee a day may cut the risk of developing gallstones by 40%. Filtered, instant and espresso all seem to do the trick. But other caffeinated drinks, like tea and cola, don't. Researchers think coffee may help flush out the gallbladder and somehow alter bile fluid...