Word: junking
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...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...
...Control tenants and putting the money in the City's coffers. The fattened City bureaucracy will decide how to spend the landlord's rent. Shall we extend this mentality to other groups? Some individuals of one race or ethnic group may spend too much money on drink, drugs, and junk food. Therefore, the City should take the money of all members of that race or ethnic group and spend it for them. For their own good, of course...
...just what the Treasury would like, since the rule would dissuade depositors from piling into a struggling institution that was offering impossibly high interest rates in a desperate bid for customers -- as often happened in Texas in the '80s. But the Treasury opened a wide loophole by failing to junk its too-big-to-fail doctrine. Under that policy, which is intended to prevent runs on deposits at large institutions, the government makes good on the entire account -- no matter how sizable -- that a major depositor holds in a large bank. That particularly worries small-town bankers, who fear customers...
Before his death, Hammer claimed the collection was worth $450 million, but most of it is junk: a mishmash of second- or third-rate work by famous names. The Rembrandt Juno is one of his weakest paintings -- large, flat and gross. The Rubens Adoration of the Shepherds may not be by Rubens at all; the Titian, not by Titian. The Leonardo pages, installed in a sort of dim mortuary chapel of their own, look ridiculously anticlimactic. The Impressionist work is as dull as could be. And, except for the Van Gogh and one early Gauguin, so is the more modern...