Word: defaulters
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Dates: during 1990-1999
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...Minkus victory at fifth singles followed by a Pepperdine injury default at sixth provided the Crimson with a commanding 4-2 lead in the match coming into doubles action...
When Third-World nations default on their massive foreign debt, we could do what your hometown banker does when you miss too many car payments--repossess the country and sell it in the classifieds...
...small for the pros by maybe 4 in. in van Breda Kolff's opinion, Carril embarked on a career as a high school government teacher and basketball coach. He won early and often. In 1966 he applied for the coaching job at Lehigh and got it by default. One year later, as van Breda Kolff was completing a five- year-long coaching tour de force at Princeton, he recommended Carril to succeed him. The incumbent thought his protege would be a hard sell. "Pete is not in Princeton's image," says van Breda Kolff. "He is not gray flannels...
While the huge fine sapped Drexel's strength, the killing stroke was the severe slump in the $200 billion junk-bond market. Several factors -- a rising default rate, a slowing economy and a new federal law requiring S&Ls to dispose of their junk bonds -- conspired to send the prices of such securities plunging to 50% or less of their face value since last fall. Stuck with more than $1 billion in devaluing junk, Drexel's credit rating began sliding, and its banks cut off credit two weeks ago. The parent company, starved for cash, began to siphon money from...
...company's retirees on a regular basis. Revlon got its hands on $100 million in 1986, when it closed out its pension fund and bought an $85 million annuity -- from First Executive. A safety net protects employees in most states, which have agencies that insure private pension funds against default. The Federal Government guarantees many pensions as well. But it is uncertain how much protection this affords employees whose pension funds have been replaced by annuities. A few annuity holders could find their benefits drastically reduced...