Word: eisner
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...Cinderella for the modern age. Gifted by economic conditions created by a man who relied largely on astrology, not unlike the witches in many a Disney film, Michael D. Eisner, chair of the Disney corporation, was able to attend the orgy of consumption that was the American 1980s...
While much of the populace languished in poverty, Eisner became one of the most successful and highest paid executives in America. But the ball is almost over. Eisner sees January 20, 1993 as the proverbial stroke of midnight for his personal fortune and is acting accordingly...
...Eisner apparently does not. His cashing in of $197.5 million in personal stock options on Tuesday was one of the most cynical and selfish acts anyone has committed in the presidential transition period. It sent a message of no confidence rippling through the world of finance. Yes, it saved the multi-millionaire $16 million. And yes, he issued a statement about...
...useful. Some of them think that a mere $200 billion in federal red ink has only a negligible negative effect on an expanding $4.9 trillion economy. Others argue that much of the deficit has positive, pump-priming effects and promotes growth and higher levels of employment. As Robert Eisner, an economist at Northwestern University, wrote in 1986, "The federal debt, however frequently viewed as a burden to the government or to future taxpayers, is wealth to those who own it . . . The holders of those deficit-financing Treasury notes, bills and bonds feel richer for having them. And the richer they...
...Eisner is no supply-sider, but many who are agree with him up to a point. Paul Craig Roberts, a former Assistant Secretary of the Treasury in the Reagan Administration and a leader of the supply-side revolution, believes that all the hand wringing over the deficit is misplaced. The worst thing about it, in Roberts' view, is that "it causes the government to keep doing the wrong thing to correct it" -- raising taxes of one kind or another and thereby inhibiting growth. "The deficit is only a problem if it continues to grow relative to the gross domestic product...