Word: junking
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Dates: during 1990-1999
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...Jones industrial average into uncharted territory. So brokerage and investment-banking firms and their employees are whooping it up with perfectly rational exuberance: they are closing the books on their most profitable year ever. Year-end bonuses will surpass even those of the best years of the junk-bond infused, too-much-is-never-enough 1980s. "It's obscene," admits a bond trader, "unless you're on the receiving...
Does this mean the red suspenders, Masters of the Universe days of the '80s are back? Not quite, say most Wall Streeters. There may be even more money now, but it actually has to be earned: no more quick fortunes peddling junk bonds. And no money just for showing up. Bonuses now are tied to profits, not revenues, and are spread around more widely. Goldman Sachs, for instance, is giving even its support staff bonuses equal to 25% of their base pay. Says a senior executive at Lehman Brothers: "Since the '87 crash, people making money are suspicious about...
...autoimmune diseases like lupus and scleroderma. So it is little wonder that implant lawsuits have clogged the nation's courts and forced one manufacturer, Dow Corning, to seek pre-emptive bankruptcy. Yet many medical and legal experts have long suspected that the blame laid on implants is based on "junk science." Last week, in a bold opinion that surprised legal experts across the country, a federal district court judge in Portland, Oregon, endorsed that view. Expert testimony linking implants to "any systemic illness or syndrome or autoimmune disorder of any kind," Judge Robert E. Jones declared, was so lacking...
...behavior is finally bringing painful consequences. After years of reckless financial management and a bribery scandal that produced federal charges against three top city officials, South Florida's largest city stands on the edge of bankruptcy, with a $68 million budget shortfall and bonds that have been downgraded to junk. Last week Florida Governor Lawton Chiles declared Miami to be in a "fiscal emergency" and said he would name a financial control board to oversee its finances. This could be the city's last chance to save itself; a grass-roots movement of Miami citizens has gained support...
...touring--they don't have a chance to build an audience. MTV also burns out its acts. They take alternative bands and play them to death." Example: semialternative pop-folk singer Sheryl Crow. Videos from her first album, Tuesday Night Music Club, were as inescapable as death, taxes and junk mail on AOL. By the time she released her new album, Sheryl Crow, a lot of people seemed sick of her--sales of her sophomore album have been underwhelming. And it hasn't helped matters that the album's contents are about as inventive as its title...