Word: drained
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...bankruptcy early last year, creditors and other parties have filed an estimated $20 billion of claims against it. The problem, observed Federal District Judge Milton Pollack, who is overseeing Drexel's reorganization, is that the company's assets are worth only $2.8 billion. To avoid costly litigation that would drain the firm's remaining assets, Pollack last week secured a tentative accord from the key parties to slash their claims 90%, to $2 billion. If the agreement stands, Drexel could soon emerge from Chapter 11 and resume business...
Says Rhew, "The UC is something I put so much time into, I would hate to see it go down the drain...
Brown's Democrats, who control both houses, predict other dire consequences: a brain drain that is bound to deter the best and brightest from working in the statehouse, and a weakening of the legislature as it confronts some of its own ex-staffers now in the ranks of special-interest lobbies. One surviving expert, respected Democratic economist Steven Thompson, 49, predicts that when the term limits start taking effect in 1996, the legislative branch could even suffer constitutionally. Reason: the inexperience of rotating members will prevent it from holding up its end of the checks-and-balances system. So vehement...
When Mueller is smothered on the inside, Princeton has a talented pool of shooters who can drain outside shots. Returning starter Sean Jackson and forward Chris Marquardt are shooting a combined 50 percent from three-point land...
...commercial banks are on the government's watch list of troubled lenders, a level four times as great as during the 1981-82 recession. And the Federal Deposit Insurance Corp. expects 180 banks with total assets of $70 billion to fail this year. The cost of closing them will drain more than half the cash now in the FDIC fund that insures bank deposits, leaving a meager $4 billion on hand, unless something is done to shore up the fund...