Word: junks
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Dates: during 1980-1989
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...from now on, a lot of passengers are going to be paying more. Last week, following Continental's lead, major airlines threw out their so-called junk fares, which offered discounts on tickets purchased three to seven days in advance. Since most last-minute flyers are business travelers, few vacationers would be affected. But at the same time, Continental was tinkering with its MaxSaver fares, the popular, deep-discount tickets that must be bought two weeks in advance and require a Saturday-night stay. Starting this week, most MaxSaver fares will increase between $10 and $20 each...
Saddled with a reputation for erratic performance, Continental pioneered the junk fares last February to woo business flyers. "Our first order was to restore the quality of the operation and then offer a fare structure to entice the frequent flyer back," explains Continental president Martin Shugrue. Other airlines soon followed, but reluctantly. "We never thought these fares made much economic sense," says Al Becker, spokesman for American Airlines. "We matched Continental for competitive reasons...
...would seem to be as socially and politically active as it should be. Future professors of social history may even point to the response to the College survey as indicating that Harvard students were somehow in the "vanguard" of a broader movement towards more socially-productive careers than selling junk bonds...
...presumably, are the readers and viewers who sit back and gorge on junk news. But what nourishment can they take from these myriad factoids about a film's budget, an actor's motivation, a director's neuroses, a special-effects man's wizardry? If moviegoers gain infotainment, they may be losing their innocence -- the magic tingle of walking into a big, dark theater whose pleasures are yet to be revealed. By pushing its stars and its secrets across the breakfast table, Hollywood may be hyping itself right out of the wonder business...
Talks then stalled over KKR's insistence that Drexel Burnham Lambert manage the buyout's junk-bond financing. KKR contends that only Drexel has the savvy to sell the record $5 billion in high-yield bonds that is needed. But RJR Nabisco's managers are concerned that the buyout could be jeopardized if Drexel and Michael Milken, its junk-bond wizard, are indicted for securities fraud, which is expected to occur soon...