Word: echeloned
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...binge gave rise to the era's get- rich-quick mentality. Michael Milken, the deposed Drexel guru who pioneered junk bonds and nurtured them into a $200 billion market, was paid $550 million in 1987 for his unrivaled expertise. In a perverse version of the trickle-down theory, lower-echelon bankers raked in multimillion-dollar salaries, and new recruits with two years' experience earned six-figure sums. The fantastic payoff created a brain drain as the best and the brightest from top colleges and business schools across the U.S. flocked to Wall Street. In 1986 nearly half the senior class...
...formidable forces across the crumbling East-West divide. "Yes, communism is proving to be a failure, but the fact is that the Soviet army hasn't retreated," says General Crosbie E. Saint, commander of U.S. Army forces in Europe. "They have taken some old equipment out, some second-echelon stuff, but not much has changed as far as we're concerned. It isn't over, over there...
...East Germany it remained uncertain whether the Communist Party's last- ditch effort to fashion a new identity could save it from extinction. With the party's upper echelon disgraced, the taut discipline snapped down below. A half million of the 2.3 million cardholders have deserted the party in recent weeks, and last week middle-ranking members joined the opposition groups in crying for the departure of the power brokers who for 41 years imposed their rule. Citizens worked with the regular People's Police to prevent the shredding and theft of incriminating documents. Airline flights to Rumania were suspended...
...Sullivan believed he could still make his mark through lower-echelon appointments, he has since discovered that there too Sununu has the power to thwart him. Robert Fulton, picked by Sullivan to be director of the Family Support Administration, withdrew from consideration after persistent questions from the White House about his philosophy on abortion. So did William Danforth, whom Sullivan wanted to head the NIH. Sullivan says that while there are other reasons the NIH director's job has been hard to fill, including questions about salary and the Institutes' structure, the White House's phone grilling of Danforth "made...
Almost alone among the upper military echelon, Admiral Isoroku Yamamoto counseled against being dragged further into war, especially against the U.S. In the first months of such a conflict, he said, "I will run wild and win victory upon victory. But then, if the war continues, I have no expectation of success." But by September 1941 a decision had been made to prepare to fight America, and as commander of the Imperial Navy, Yamamoto dutifully drew up the plans. "I expect to die on the deck of my flagship," he said. "In those evil days you will see Tokyo burnt...