Word: junking
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Dates: during 1990-1999
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...million offer to buy the faltering Dade Savings and Loan (assets: $2.2 billion). State regulators were happy someone was willing to take over the sick thrift. Paul renamed the S&L and within a few years sent its profits zooming. His method: investing CenTrust's assets heavily in junk bonds, many of which he bought from Michael Milken at Drexel Burnham Lambert. By the late 1980s the payoff from CenTrust's $1.35 billion portfolio of junk made the S&L the region's most profitable thrift. But as the market value of junk bonds collapsed in recent months, CenTrust...
Recusal does not discourage curiosity. On the contrary, it allows curiosity to breathe and put down roots. It clears some of the junk out of the garden, pulls up a few weeds. In my garden, I say, weed out the Trumps. You may choose to cultivate the Trumps. Let a hundred flowers bloom...
...thing, the room is too small as it is. More machines would make the space too crowded. Also, junk food is not good for you. I think buying it is a silly way for a college student to spend money...
Mutual funds own 30% of all junk bonds. Funds that promise "high income" or "high yield" are generally the ones that invest heavily in junk. Most prudent fund managers have been switching during the past year to more creditworthy issues, including Kroger and Fort Howard Paper. Yet the depressed market value of most junk securities means that fund investors who sell out now "will take some pretty substantial losses," according to Brian Ternoey, an employee-benefits consultant in Princeton, N.J., who advises clients to wait for the market to rebound...
Insurance companies own another 30% of junk bonds. While most firms concentrate no more than 8% of their assets in the securities, a few have gone beyond the safety zone. Junk bonds account for more than 35% of the $19 billion in assets held by First Executive of Los Angeles.The firm's heavy reliance on junk may make it difficult for First Executive to meet its obligations, thus posing a danger to retirement funds that the company manages...