Word: junks
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Dates: during 1980-1989
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Ranked just below David-Weill on the FinancialWorld roster were such eminences as George Soros, 56, president of Manhattan's Soros Fund Management ($90 million to $100 million); Richard Dennis, 38, a partner in Chicago- based C&D Commodities ($80 million); and Junk Bond King Michael Milken, 40, senior executive vice president of the Drexel Burnham Lambert investment firm (up to $80 million). Not far behind, at $65 million or so, was J. Morton Davis, 58, chairman and president of D.H. Blair, a Manhattan investment bank that specializes in stock offerings for health-care firms...
Such an accord would represent a historic arms-control breakthrough. For the first time, both sides would be compelled not only to slow the arms race but to junk hundreds of newly deployed missiles. But despite official NATO support for an INF deal, many Western leaders fear that double-zero could turn into double jeopardy for the alliance. According to the proposal's opponents, pulling those missiles out of Europe would put NATO at the mercy of superior Warsaw Pact conventional forces...
...browsers afoot in the place, she has been known to cut her deals with sales reps out in the road over the trunks of their cars. When presented with a credit card, she has been known to say, "I'm not going to get involved in that credit-card junk...
...Hills (assets: $9.7 billion) has earned a rate of return on capital that has ranged between 44% and 114% annually for the past four years, vs. 11% to 13% for the 500 biggest companies traded on the New York Stock Exchange. Columbia invested heavily in high-yield, high-risk junk bonds and volatile mortgage-backed securities, which provide greater profits at lower cost than traditional home mortgages. That kind of speculative strategy works well when interest rates are declining, but it could be disastrous in the event of an interest-rate upturn, which is now occurring. In all, thrifts have...
Neither were his children, whose flights from home are cause for empty-nest humor. There is, for example, the irony of a successful junk sculptor sourly contemplating the marginal occupations of his offspring: a daughter who molds clay "pinch pots" in California; another who edits a genealogy journal in Cincinnati and is writing a "highly ambitious feminist novel called Ever Since Eve." One son makes mobiles, "unrequested by the world," while his brother tries to crack the Manhattan film world of "lost young souls stoned on media, pounding the sidewalks and virtually (who knows? -- maybe actually) selling their bodies...