Word: junks
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Executive Life's failure -- the industry's largest yet -- comes when many insurers are burdened with large investments in mortgages and junk bonds that have gone south. But aggressive Executive Life is far worse off than most...
...tried hard to make up for lost time. As an insurance entrepreneur he disdained the slow, steady process of writing policies and building reserves through careful investments to cover eventual payouts. Instead he built the company with sizzle and flash, turning in the 1980s to the high- yield junk bonds sold by Drexel Burnham's Michael Milken. Of Executive Life's $10.1 billion in assets, $6.4 billion is junk. Says Henri Bersoux, a spokesman for the American Council of Life Insurance: "No other company of that size or larger has invested so much of its assets in high-yield bonds...
...saying. To complete the film's moral balance, she has a brother who is the only figure totally insensate to the value, financial or spiritual, of the sculpture. To him it's just something to try to fence for a few pounds sterling and toss on a junk heap when he fails...
...measure of financial relief for Perelman, who acquired control of Revlon for $2.7 billion in a bitter 1985 takeover fight. To expand his cosmetics empire, Perelman subsequently paid some $300 million for Max Factor in 1986 and about $170 million for Betrix in 1989. Now, to pare his junk-bond debt, he has begun selling assets as fast as he once acquired them. What might be next? Perelman's advisers said the erstwhile raider could soon put on the block such tony cosmetics brands as Princess Marcella Borghese and Charles of the Ritz...
Deny a child an ice-cream cone? Take away those glazed doughnuts? Or that double cheeseburger, fries and milk shake? It sounds cruel and downright un- American. Everyone knows that adults should watch their diets and cholesterol levels, but is it really necessary for junk-food-loving youngsters to do the same...