Word: default
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...billion default looms...
...Next week the Washington Public Power Supply System is expected to fail to make a $15.6 million monthly debt-service payment to Chemical Bank on bonds worth $2.25 billion. The securities were issued starting in 1976 to pay for two nuclear power plants that have already been scrapped. A default would likely endanger completion of three other unfinished WPPSS plants on which $6.1 billion is owed. Moreover, the uncertainty that it would create could shake the very foundations of the municipal bond market and lead to huge losses for big and small investors alike. Says Robert Adler, a Shearson/American Express...
...recognized. Show clothes that are funny, disrespectful and touched by madness, as Vivienne West wood did, and you risk not being taken seriously. But show without a show, as Giorgio Armani did with his mannequins and video, and you JE risk being taken no way at all. You may default on your lifetime role in that seasonal display of glamour, giddiness and social scrambling that travels from country to country like a medicine show offering cures for which there are no known diseases...
...Grossman-R. Loud (H) d. M. Bodden-D, Gerken 6-4, 6-4, 2. (P) default; 3. D. Beckman-A. Beren (H) d. T. DavisMatt Pendo...
...till November to continue courting the public. Assuming White gains one of those two spots, the system will thus automatically eliminate all but one of his challengers. And faced with a one-on-one choice between White and an unproven, underfinanced challenger voters may well choose the incumbent by default...