Word: junked
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Dates: during 1990-1999
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...tastes. They no longer need the security McDonald's provides. So the same assets that had made the restaurants so great started to turn against the company, especially after Kroc died in 1984. People looked at uniformity as boring, insipid and controlling, the Golden Arches as a symbol of junk-food pollution. Franchisees began to feel increasingly alienated from top management, especially in its aggressive expansion policies...
Since when do coils of metal resembling shipyard scrap become "sculpture"? Robert Hughes has apparently shed common sense in his fanciful review of Serra's curved metal junk titled Torqued Ellipses and assumed the role of a member of a simpering claque favoring obvious nonsense. MURRAY B. STEPHENS San Antonio, Texas...
...believe, as I do, that the Fed's second, mid-October rate cut signals a vigilance that will avert a recession, you'll find great value in the so-called cyclical stocks and in high-yield or "junk" bonds. I have avoided junk for years because too many weak companies were able to borrow at rates only slightly higher than those paid by the strongest debtors. Confidence in the economy ran so high that even companies with no hope of making a profit this decade could tap the markets cheaply. Junk-bond investors weren't getting paid enough for their...
...this summer's shake-out among hedge funds (big buyers of junk paper), coupled with a belief in an imminent recession, has widened the spread between high-yield and government bonds to extraordinary levels. Speculative bonds now yield almost double what you get on risk-free Treasury bonds--a remarkable opportunity...
Here you, the individual investor, have the edge on me, the professional money manager. Buying the high-yield bonds of individual companies, as I would have to do, would leave me vulnerable to the junk market's current illiquidity (expressed as the large gap between the price at which you can buy and sell the same bond). But you can buy shares in a diversified junk-bond mutual fund with a good record, such as Fidelity High Income or Vanguard High-Yield Corporate Portfolio. You'll get a high yield and the potential for capital gains when the market steadies...