Word: hunted
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Dates: during 1980-1989
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...Hunts will appeal Sanders' ruling, and they immediately demanded that the judge be disqualified from hearing their case. Their court petition argued that "one cannot be blind to the background of long-standing philosophical and political differences between the honorable Barefoot Sanders and . . . members of the Hunt family." But Sanders refused to remove himself from the case...
...Then the Hunts took the offensive. The brothers filed two suits against their bankers, charging them with "conspiring to dismantle and ultimately destroy" Hunt interests. They asked for some $14 billion in damages. The maneuver made sense. Indeed, suing one's lenders is becoming an increasingly common negotiating tactic among debtors. It often forces the creditors to settle at terms more favorable to the debtors...
...Hunts' downfall was in the making long before the oil slump. Their troubles go back to 1979, when Bunker and Herbert began hoarding silver. They ultimately amassed some 59 million oz. of the precious metal, which seemed a shrewd move as the price of silver climbed to a high of $50.35 per oz. in January 1980. It was a gamble characteristic of the sons of H.L. Hunt, who once made a living as a cardplayer. But this time the Hunts' luck ran out. When the silver price plummeted to $10.20 per oz. two months later, the Hunts were suddenly left...
Whatever the ultimate outcome, Bunker, Herbert and Lamar Hunt cannot escape the striking symbolism of their company's bankruptcy filing. Here was the clan that embodied all that was bold, brash and rich about the American oil patch. Yet today, like many a lone Texas wildcatter, the Hunt brothers are hurting -- and not even the hugest gusher can provide a cure...
...always profitable enterprise. But nowadays gold mining is back in those parts as a booming, albeit unromantic, big business. No fewer than 22 new gold mines are expected to open up in the U.S. this year, most of them speckled across California, Nevada, Montana and Colorado. The treasure hunt is bound to bolster the position of the U.S. as No. 4 among gold-mining countries. America's importance as a producer has increased lately because traders have become fearful of disrupted output from the world's leading supplier: South Africa. The precious metal's price surged last week to nearly...