Word: debts
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Dates: during 1980-1989
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...Saatchi & Saatchi wandered afield, its management seemed to become increasingly inept. The company's debt swelled to $250 million while costs mounted unchecked. At the consulting firms, key managers, skeptical about whether their operations could thrive in the Saatchi confederacy, began to quit...
...unfettered financial system, yet the lack of supervision is producing a large shadow economy. The IRS estimates that tax cheats skim as much as $50 billion a year from legitimate cash-generating businesses and launder the money to avoid detection. Banking experts calculate that the private citizens of debt-choked Latin American countries have smuggled more than $200 billion of their savings abroad in the past decade...
...industrialized nations must therefore persuade the Third World to % embrace the goal of sustainable development -- economic growth that relies only on renewable resources and does not permanently damage the environment. But the debt-burdened developing nations cannot be expected to do so without an enormous influx of funds and technology from the North. According to Kenneth Piddington, director of the World Bank's Environment Department, the crucial question is, "Are the rich countries of a mind to organize the transfer of resources in such a way that the Thailands and Indonesias of this world are actually going to benefit materially...
...curious coincidence of the rebirth of greed with what President Bush is fond of calling "the longest-lived economic expansion in post-war history," (paid for, not incidentally, by the largest debt in human history) has covered this ethos in a cloak of morality. "Some people may be getting obscenely rich, but at least the country as a whole is benefiting...
Takeover artists once made U.S. industry tremble, but now it is their turn to shake. Many are saddled with debt-ridden companies or have little of their old clout left. The collapse of B. Altman...