Word: delayer
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Dates: during 1970-1979
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...ordinary bankruptcy proceedings, the assets of the company are turned into cash, which is distributed among creditors. The Penn Central, however, filed under Section 77 of the federal Bankruptcy Act, which is designed to help railroads delay paying their debts while they keep running. Since the start of the Depression, some three dozen railroads have been reorganized under Section 77, and none have gone out of business. The process often requires 20 years. Last week the Philadelphia district court picked Judge John P. Fullam, 48, to handle the Penn Central case...
...debate will continue as Republicans offer other amendments that might ease the restrictions on the President or at least delay a final vote until the issue seems academic. Much of the intensity already is going out of the argument as the public temper cools. If the Senate does pass the Cooper-Church language, the House is not expected to go along, and even if it did, the President would surely veto the bill. Yet the issue is not meaningless. What is really at stake is a highly political proposition: whether the Senate will in effect censure the President for taking...
...protect themselves. One reason that Israeli soldiers have hunkered down for so long on the Bar-Lev Line under barely tolerable siege conditions is that their string of hedgehog forts and minefields serve as a kind of trip wire. The line, using relatively few men, is designed to delay any kind of major Egyptian cross-canal attack until troops stationed in the desert behind them can come up to help...
...disaster brought at least a temporary reconciliation between Washington and Lima. For almost two years, the U.S. and the Peruvian nationalist junta led by General Juan Velasco Alvarado have been feuding over Peru's seizure of U.S. properties. After an unfortunate initial delay, the U.S. won warm thanks from the Peruvian generals for its effective aid. From the U.S.'s Southern Command in Panama came a 40-man rescue team three days after the quake, and giant Chinook helicopters from the carrier Guam lifted supplies into remote Andean villages that otherwise were completely cut off from the outside...
...street people"-non-students who help stir things up. Morris urged the legislators to find a constitutional way "to cleanse ourselves of them." President David D. Henry of the University of Illinois cited the "guerrilla hit-and-run tactics-bombing, arson and vandalism-of dedicated destroyers." He deplored the "delay between arrest and trial" of such activists, who usually are "free on bail and tend to remain in the area and participate in continuing events...