Word: dealers
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Dates: during 1980-1989
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Executives of E.S.M. Government Securities of Fort Lauderdale liked to behave as if every year were a winner. They drove Mercedes and Jaguars and paid themselves salaries of up to $500,000. In fact, the nine-year-old company, a dealer in bonds, notes and bills, has been a money loser almost from the start. When it finally collapsed last week in the biggest failure of its kind since Drysdale Government Securities went under in 1982, dozens of cities, financial institutions and other creditors stood to be out as much as $300 million. Among the potential victims were Beaumont, Texas...
...many, he is a real-life J.R. Ewing, the ruthless but fascinating wheeler- dealer whom viewers of Dallas love to hate--and sometimes secretly admire. To , his victims, mostly entrenched corporate executives, he is a dangerous upstart, a sneaky poker player, a veritable rattlesnake in the woodpile. To his fans, though, he is a modern David, a champion of the little guy who takes on the Goliaths of Big Oil and more often than not gives them a costly whupping. Whichever image he evokes, T. (for Thomas) Boone Pickens, 56, has swept up like a twister out of Amarillo, Texas...
...freewheeling policy backfired disastrously in April 1983, shortly after Stern proudly announced "the journalistic scoop of the post- World War II era": the discovery of 62 volumes of Adolf Hitler's diaries. It soon became clear that Stern itself had been caught in a $3.8 million swindle involving Documents Dealer Konrad Kujau, 46, and Stern's veteran investigative reporter Gerd ("the Detective") Heidemann, 53. The trial of the two men has been under way in Hamburg for six months. Even so, more questions than answers about the case remain as the proceedings move toward a close...
...them in 1979, just as tragedy struck. They lost two sons, 16 and 20, to cancer. Their sons' medical costs came on top of farming setbacks. Still, creditors were patient as the family fell $100,000 in debt. Recalls Steffes: "The people in town really trusted me. The feed dealer carried us along. So did the gas dealer. Everybody helped...
...from New York but wanted to get away from the city for the holidays. Soon the conversation turned to crime in the city. The man told Stotler he had been mugged five times and talked at length about how little protection New Yorkers had from criminals. The book dealer asked his guest if he had heard about the fugitive "vigilante" who had shot four youths he felt were threatening him on a New York subway. "How did you hear about it?" the visitor asked. "He was interested in it," said Stotler, "but he didn't try to pin me down...