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Last spring the MSHA stunned the mining industry by announcing that the agency had found widespread fraud in its dust-sampling program, designed to prevent black lung. The tests are done to ensure that coal-dust levels in mines do not exceed 2 mg per cubic meter. The testing device consists of a small pump that draws air through a filter, which is sent to a federal lab and weighed for dust content. The MSHA said more than 500 companies at 847 mines had tampered with the filters. Civil penalties may reach a record $7 million. Last week 33 coal...

Author: /time Magazine | Title: Labor The Curse of Coal | 11/4/1991 | See Source »

According to the association's statement, the number of people employed in schools exceed the number of people employed in several manufacturing industries. In addition, the school employment figures match construction employment figures "during the boom development years...

Author: By Brian D. Ellison, | Title: Colleges Boost State Economy | 10/31/1991 | See Source »

...labor market because of a lack of prospects -- up 12% from last year and 14% from 1989. When the Labor Department first started tracking the group in 1967, it found about 500,000 work-force dropouts. If discouraged workers were factored into the statistics, the unemployment rate would exceed...

Author: /time Magazine | Title: Down And Out: Discouraged Workers | 9/9/1991 | See Source »

...faces about a dozen lawsuits filed by investors who charge they either overpaid for securities because of artificially inflated prices or were paid less interest income because of deflated yields. In anticipation of financial damages arising out of litigation, the firm is setting aside reserves that almost certainly will exceed its profits, which have totaled $451 million so far this year. To head off a liquidity crisis, the investment house triggered its emergency financing plan, which calls for a shift from short-term IOU's to secured loans that pay higher rates...

Author: /time Magazine | Title: Finance: Salvaging Salomon Brothers | 9/2/1991 | See Source »

Salomon rigged bids to exceed the 35% trading ceiling in at least three Treasury auctions during the past nine months. In December the firm bought 35% of an $8.5 billion, four-year-note sale and also submitted a $1 billion bid that was ostensibly for a customer but was really for its own account. The combined transactions gave Salomon a 46% share of the overall deal...

Author: /time Magazine | Title: Wall Street: Swaggering into Trouble | 8/26/1991 | See Source »

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