Word: junking
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Dates: during 1990-1999
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...main player is Maxxam, a Houston conglomerate that issued junk bonds in order to purchase the lumber firm that formerly owned the forest. Among the bond buyers: the infamous Columbia Savings & Loan of Beverly Hills, which was seized by the government in January. The seizure has left Uncle Sam holding Columbia's share of the Maxxam bonds. Maxxam, left short of cash by the takeover, has increased the cutting and selling of the redwood timber, thus infuriating local conservationists...
...CenTrust Savings Bank of Miami. CenTrust, acquired by real estate developer David Paul in 1983 and now infamous as the S&L that spent its money on bathroom sinks made of pure gold, raised eyebrows in the regulatory community in the mid-1980s when it invested massively in junk bonds...
...headlines and TV bulletins about a "Wolfman" on the prowl eventually force Parker to face what he has committed. There is some macabre humor in this recognition; understanding that he is in fact a carnivore, the former health-food addict starts gorging on junk. But somewhere around this point, Theroux begins a tour de force portrait of character disintegration, meticulously detailed and utterly convincing. A clearer sense of who Parker was before he fell apart might have made Chicago Loop a clearer, more uplifting admonitory tale; the scariest possibility is that the anti-hero was no one at all until...
...points, or 23%, since its October low. Daily trading volume since January has averaged 195 million shares, 19% higher than a year ago. If this keeps up, the securities industry will post its most profitable quarter in nearly a year. Assets of mutual funds -- including risky small-company and junk-bond funds -- grew a record $59 billion in January, and the frenetic pace continued in February. "This is the first popular war since World War II," explains Bill LeFevre, senior stock-market strategist for Tucker Anthony. "You could very well see the consumer celebrate by buying that postponed...
After a year of seemingly endless legal trauma for Drexel Burnham Lambert and Michael Milken, each got unexpectedly favorable news last week. Federal Judge Kimba Wood recommended that the former junk-bond king be eligible for parole after serving only 36 to 40 months of the 10-year sentence she imposed on him for securities violations. Wood based her decision on the financial damage done to investors and companies as a result of Milken's confessed misdeeds, which she calculated to be $318,000, less than a day's pay during Milken's highest-flying years and far less than...