Word: junkings
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French president Jacques Chirac is fond of certain things American: junk food, his summer-school days at Harvard, the South Carolina belle he almost married, Bill Clinton. Campaigning in the spring of 1995, Chirac enthused about the prospect of working with his U.S. counterpart; the two men, both gregarious, backslapping extroverts, had hit it off from their first meeting in Paris a year earlier. But how, a reporter asked, would sensitive Franco-American relations fare? "They will be excellent," Chirac predicted. Pause. "And contentious...
...where Roper mimics a white bandit as a test for his galoot partner (Michael Rapaport), there's no room for Eddie to be Eddie. It's as if Carter thought the project was a smooth vehicle that Murphy could simply ride in, when it's really a hunk-a-junk the star needed to transform. Roper is issued a regulation villain (Michael Wincott, whose menacing baritone was used to better effect in the recent Jim Jarmusch corpse opera Dead Man) and a girlfriend in peril (British stunner Carmen Ejogo). A shame the star wasn't given a character to play...
...Jones industrial average into uncharted territory. So brokerage and investment-banking firms and their employees are whooping it up with perfectly rational exuberance: they are closing the books on their most profitable year ever. Year-end bonuses will surpass even those of the best years of the junk-bond infused, too-much-is-never-enough 1980s. "It's obscene," admits a bond trader, "unless you're on the receiving...
Does this mean the red suspenders, Masters of the Universe days of the '80s are back? Not quite, say most Wall Streeters. There may be even more money now, but it actually has to be earned: no more quick fortunes peddling junk bonds. And no money just for showing up. Bonuses now are tied to profits, not revenues, and are spread around more widely. Goldman Sachs, for instance, is giving even its support staff bonuses equal to 25% of their base pay. Says a senior executive at Lehman Brothers: "Since the '87 crash, people making money are suspicious about...
...autoimmune diseases like lupus and scleroderma. So it is little wonder that implant lawsuits have clogged the nation's courts and forced one manufacturer, Dow Corning, to seek pre-emptive bankruptcy. Yet many medical and legal experts have long suspected that the blame laid on implants is based on "junk science." Last week, in a bold opinion that surprised legal experts across the country, a federal district court judge in Portland, Oregon, endorsed that view. Expert testimony linking implants to "any systemic illness or syndrome or autoimmune disorder of any kind," Judge Robert E. Jones declared, was so lacking...