Word: junking
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Dates: during 1990-1999
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Canny corporate raiders know there is more than one way to fell an obstinate opponent. Throughout the 1980s the knockout blow was typically delivered in a high-stakes takeover battle, with much fancy legal footwork and powerhouse debt financing. But in recent months the collapse of the junk-bond market and the passage of anti-takeover laws in more than 30 states have forced a switch in tactics. Now the savviest challengers are clambering back into the ring with an old-fashioned approach to kayoing corporate management. The new arena: the annual stockholders' meeting. The main event: the proxy fight...
After the 1988 election, in a rage at George Bush's conduct, I was particularly susceptible to liberalish junk mail. What I hungered for was a group called something like Patriotic Americans for Flag Burning and Prison Furloughs. What I settled for was the likes of the American Civil Liberties Union, Handgun Control Inc. and my local public-television station. In the past few months, they have all been hitting me up for renewal. What's more, they have generously shared my name and address with other groups willing to gamble that a tender concern for the First Amendment...
...filmmakers pepper House Party with a wide range of cultural references, from Public Enemy (the rap group) to Public Enemy (the Cagney classic). But most of their humor is homeboy, or what Reginald calls "Afro-Americana. Little bits of junk culture that tie the black community together." That's what the Hudlins hope to do now that, as Warrington puts it, "every studio in Hollywood has said they'd finance our next movie." As a kid, Warrington thought "movies were like magic that was performed in Hollywood." Now he and his brother have learned that if you believe in magic...
...bust business has attracted some unlikely saviors. Shortly before it declared bankruptcy last month, Drexel Burnham Lambert beefed up a unit that advised distressed companies. The move was viewed with cynicism by some on Wall Street since Drexel, through its junk-bond financing of buyouts, was a prime contributor to today's bankruptcy boom. Other improbable rescuers include First Boston, which advised Campeau to borrow more than $10 billion to buy Bloomingdale's, Jordan Marsh and seven other U.S. store chains. Some critics attack Wall Street firms for profiting from both the debt buildup of the '80s and the subsequent...
Amid all the ruckus, Rooney should be happy to return to his weekly musings on trivia like junk mail and vacuum cleaners. And how contrite is the curmudgeonly commentator? "I'm furious about the race issue," he says. "As for homosexual insensitivity, I suspect I'm guilty." His reinstatement proved at least two things. Insensitivity to homosexuals is a pardonable offense, even at the skittish networks. And TV executives should think twice before tangling with a star...