Word: junking
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...self-proclaimed King of the Deal managed to stave off disaster again -- but for how long? Last week Donald Trump missed a $47 million semiannual interest payment on $675 million worth of junk bonds used to finance his Taj Mahal casino in Atlantic City. Taj bondholders had the right to foreclose completely on the casino, but the developer persuaded them to go into business with him instead...
...this highly manipulative? Of course. "They really know how to push our hot buttons," says copywriter David Lusterman of San Anselmo, Calif. "I'm very jaded." Counters pitchman Jayme: "Junk mail gives everyone the chance to say, 'Yes, I exist. They're still writing to me -- and dammit, I wish they'd stop...
...producers of this mountain of missives call it direct mail or mail order. The U.S. Postal Service refers to the onslaught as "bulk business mail." But to most people the deluge of material that descends on them each year is just plain junk mail, a typically American sobriquet that recognizes its vast and disorderly variety, its cheeky aggressiveness and its easy ability to raise hackles. Whatever its name, it is an extraordinary by-product of democratic civilization. Catalogs, catalogs, catalogs. Political flyers. Charitable solicitations. Environmental entreaties (on recycled paper, naturally). Sweepstakes packets. Magazine subscription offers. Investment brochures. Anything...
...invading their homes. Over the course of a lifetime, the average American professional will devote eight entire months to sifting through mail solicitations. Third-class mail is now a nearly 4 million-ton colossus that accounts for 39% of all U.S. postal volume. This year about 41 lbs. of junk mail have been generated for each adult American. Of the pile that reached mailboxes, an estimated 44% landed in trash cans, unopened and unread. Many of the rejects were "prospecting letters," mailings that fish for new clients and often hook only a 2% response -- plenty, by industry standards, to justify...
Many corporations have dreamed up creative means to pare down their debt. Vail Associates, the Colorado ski-resort operators, paid down part of its interest expenses in free ski passes rather than cash. And FPA, a Pennsylvania real estate developer, retired $19 million in junk-bond debt by giving its creditors raw land that it owned...