Word: interests
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Dates: during 1980-1989
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Herscu piled up debts of $1.4 billion building his trans-Pacific empire, then ran into trouble last year. Hooker, Australia's second largest home builder, has been hit by rising interest rates and sagging home sales in Australia, as well as lukewarm retail sales in the U.S. Herscu is now trying to sell off $750 million in assets, from Manhattan to Melbourne. Altman and Bonwit, meanwhile, are hoping to satisfy their creditors in time to sell some fall fashions...
...what they don't tell you in their letter, or they tell you only in fine print someplace, is that from the minute you use one of these checks they start charging you 19.8% interest...
Some banks, Joey thinks, use these checks as a way to trick thrifty cardholders, who normally pay their bills in full and accrue no interest charges, into starting the meter running...
...case of conflict of interest," Turk said, "questions of appearance are important because you can't know if someone is returning favors because of side dealings...
Michael Turk, a tenant activist who has opposed Walsh on issues of housing, said yesterday that in the case of conflicts of interest, any potential for improprieties is as bad as actual illegal actions...