Word: junking
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Dates: during 1990-1999
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...Viper team's back-to-basics approach left extras like air conditioning and four-wheel steering to softer cars. "We didn't want any of that junk in it," explains Shelby, a straight-talking visionary. "This is a simple 1960s American muscle car with 1990s technology," he says...
...million even after paying out $900 million to victims of his crimes did not sit well with the Federal Deposit Insurance Corporation. The agency scuttled, at least temporarily, a $1.3 billion settlement of suits brought by thousands of investors who said they had been bilked by the jailed junk-bond king's schemes...
...before U.S. Judge Milton Pollack, all sides have incentives to reach agreement. A settlement could strengthen Milken's plea for reduction of his 10-year sentence for securities fraud; he has already served a year. And the FDIC, which represents savings and loans that failed after loading up on junk bonds, stands to receive at least $500 million. The rest of the settlement would go to defrauded investors who participated in the suits...
Poor Michael Milken. He's already paid $600 million in penalties and is 12 months into a 10-year prison sentence -- and he still has to worry about hundreds of lawsuits filed by investors claiming they were bilked by his schemes. To settle those charges, the fallen junk-bond king has now agreed to pay $500 million more in a deal that requires the approval of U.S. Judge Milton Pollack in Manhattan. Plaintiffs include the Federal Deposit Insurance Corporation, which alleges Milken helped undermine the savings and loan industry by persuading S&L chairmen to load up on junk bonds...
...music they produce is strictly funk. The image they project is California punk. But the quality of the product is anything but junk...