Word: junking
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Dates: during 1990-1999
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...raise capital, Equitable Life Assurance Society, the third largest U.S. insurer, announced it will convert to a stock-owned company. The $500 million in additional capital that chairman Richard Jenrette expects to raise through the stock sale will help offset large losses from risky ventures: junk bonds, real estate and high-interest guaranteed- investment contracts. It will also make it easier for the company to diversify...
...main offerings are credible. The corned beef, although a slightly different color than the fare I serve, is authentic enough. The pastrami is far superior to the greasy junk HDS likes to serve on a "bulkie roll...
Wall Street wags are convinced that the junk-bond king will cooperate with federal prosecutors in return for a reduction of his 10-year prison sentence. Why? Toupees are not allowed in the federal penal system, and Milken, who wears one, can't bear the thought of going bare...
...industry's worst performers. Benalder Bayse Jr., who from 1985 to 1989 ran both funds, testified with immunity at Milken's presentencing hearing that a Milken crony, Roy Johnson, helped him land what he described as a "lucrative job" at First Investors. Thereafter, according to Bayse, Johnson funneled junk bonds to him, both for the mutual funds and, in some cases, for Bayse's personal account...
Consumers worried about recession and war are shopping for bargains this year. Junk-bond king Michael Milken pulls a stiff ten-year prison term...