Word: firmed
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Dates: during 1980-1989
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...cold. Said one of Milken's friends: "From now on he is on his own -- and as determined to prove his innocence as ever." Milken's defense against criminal charges could be hampered by the Drexel settlement, in part because the firm has promised to cooperate with the U.S. Attorney's probe of his transactions. But Stanley Arkin, a Manhattan attorney who specializes in white-collar crime, says separating the cases could help Milken. Says Arkin: "Milken will now be able to defend just his actions instead of those of 10,000 others...
After years of working 15 hours a day, Milken now spends much of his time preparing his defense. He remains the titular head of Drexel's operations in Beverly Hills, where the firm's junk-bond department is based. But Milken will probably take an indefinite leave of absence as soon as an indictment is handed...
What turned Shultz around? "He has a visceral hatred of Arafat," explained a senior U.S. diplomat. "But finally reality gained the upper hand, helped by a weight of pressure that he had probably not experienced before." The Secretary also felt gentle but firm nudges from George Bush to move the U.S. beyond its isolated stance of just saying no to every overture from the Palestinians...
...ability to topple the mighty, Tokyo's widening stock scandal is turning into a Japanese version of Watergate. Since July, when the daily newspaper Asahi Shimbun accused 76 highly placed political and business leaders of unethical trading in shares of the real estate firm Recruit Cosmos, 20 people implicated in the scheme have given up their posts. Last week Hisashi Shinto, 78, chairman of the giant firm Nippon Telegraph & Telephone, resigned after admitting that his bank account contained $73,000 in profits from the Recruit deal. Just five days earlier, Finance Minister Keiichi Miyazawa had departed under a similar cloud...
...some 41 airlines, and has orders for 275 more. The company is helping build a similar jet, the MD-82, in Shanghai. China's state airline, CAAC, plans to use the aircraft on its domestic routes. Under a $600 million licensing agreement with the Chinese government, the California firm is providing the parts for 25 of the jets...