Word: grim
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...capital accounts, and hundreds of millions more consisted of loans granted to insiders to buy stock in Agha Hasan Abedi's banks. Such loans were never meant to be repaid, and now the accumulating interest charges had grown so large they could not be ignored. The reason for the grim announcement was an audit by the British office of the Price Waterhouse accounting firm that revealed for the first time the rot at B.C.C.I.'s core -- a black hole consisting of at least $1.7 billion and perhaps far more...
Born within 30 days of each other in 1931, the two men could scarcely be more different in background and personality. Yeltsin's childhood was a grim struggle for survival in a one-room communal hut in the Ural industrial town of Sverdlovsk. At six, he was looking after his two siblings, boiling potatoes and washing dishes. "It was a fairly joyless time," he recalls, possibly also because his father frequently thrashed him with a leather belt...
...counted. But the final, massive and bloody phase of the conflict that began more than five weeks earlier had to be solemnized as only a President can do. So George Bush helicoptered from Camp David to the White House Saturday night for an appearance that was a kind of grim ritual...
...distinction provided little solace to farmers, who consume 85% of the state's water and are likely to take the biggest economic hit from the drought. With spring planting only weeks away, agricultural analysts predict a grim harvest: as many as 1.5 million acres left unfarmed, $642 million in net losses and layoffs of thousands of farm workers. "This is the worst drought most of us can remember," says Bob Vice, president of the 85,000-member California Farm Bureau Federation. "You can't raise crops unless you have tools, and water is the most important tool...
...recession so far has been steep and painful. During the October- December quarter, the economy shrank at an estimated 4% annual rate. Last week a barrage of grim statistics underscored the situation. Housing starts fell 13.3% last year, to the lowest level since the 1981-82 recession. Industrial production declined at a rate of 8% during the final quarter of 1990, and the tailspin showed no sign of a letup. Domestic auto sales during the first 10 days of January were more than 31% lower than during the same period a year ago. "Nobody is selling anything. Times couldn...