Word: junks
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...negotiation has become obsolete. The bargaining cannot be dispensed with yet, but it is being short- circuited by unilateral action. Discussions to get rid of tactical nuclear weapons -- artillery shells, warheads on short-range missiles -- may bog down in minutiae. So, said Bush in effect, don't bother. Just junk those weapons. All of them. Now. And hope that induces the Soviets to follow. Says Michael Mandelbaum, a scholar at the Council on Foreign Relations: "The Bush plan is a combination of a bold stroke and bowing to the inevitable. Bush is getting out ahead -- not a whole...
...million through the simple expedient of buying and selling stock with the help of inside tips. Arrested in 1986 and jailed for 17 months in a minimum-security prison, he led prosecutors to arbitrager Ivan Boesky, who, in turn, helped them reel in the biggest fish of all -- junk-bond king Michael Milken. Now permanently barred from the securities industry, Levine, 39, makes his living as a consultant to companies engaged in mergers and other deals...
...look like the heroes featured in traditional baseball cards, but the 36 hardball players immortalized in the Savings & Loan Scandal Trading Cards are best known not for their hits or their runs but for their headline-grabbing errors. Presidential favorite son Neil Bush, political puppet master Charles Keating and junk-bond giant Michael Milken are among the reluctant celebrities honored in the latest offering from California's Eclipse Enterprises, whose previous politically risque parodies also feature palm-size portraits of front-page phenoms -- such as Neil Bush's dad in Iran-Contra Scandal Trading Cards...
...together BankAmerica's $4.4 billion merger with Security Pacific. Rothschild Inc. earned $2.5 million in cash and bonds for representing creditors in the bankruptcy of Donald Trump's Taj Mahal casino in Atlantic City. And Donaldson, Lufkin & Jenrette received $2.5 million last month for co-managing a $200 million junk-bond issue for Dr Pepper. Little by little, deal by deal, Wall Street's investment bankers are rebuilding a business that all but collapsed with the waning of the '80s. A recent surge of deals ranging from bank megamergers to huge new stock and bond issues is putting some chastened...
...impersonal forces such as declining productivity and global competition. But real wages fell faster in the '80s than in the '70s, while productivity rose faster in the '80s. Besides, executive salaries have soared in the past 10 years, and it's the executives who decide whether to invest in junk bonds or modern equipment and technology. Theories of the global economy may explain a lot of things, but they don't make it any easier for a U.S. worker to live on Third World wages...