Word: junks
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...chairman of Gillian Group, a leading dress manufacturer: "After a while, it became a contest of wills and ego. Campeau came to feel that it was a game and he had to win the prize." But the price of victory was a debt load that included $2.25 billion of junk bonds that pay as much as 17.75% interest...
...49ers did manage to squeak out an 81-77 overtime win. To watch them celebrate, you'd think the finger-pointing, junk-talking Long Beach hoopsters had knocked off Tarkanian's UNLV squad, a big west rival...
...good news is that lots of people prospered. This was the age of financial wizards making fortunes in their 20s, and roughly 100,000 Americans became millionaires every year. Michael Milken, the junk-bond king at Drexel Burnham Lambert, set the record by earning $550 million in 1987. The bad news is that while the top 20% of American families' earnings rose more than $9,000 (after adjustment for inflation), to an average of nearly $85,000, the bottom 20% dropped by $576, to a hungry $8,880. The Government estimates that 32 million Americans -- 12.8% of the population -- live...
...soon replace the stamped envelope. They turned out to be wrong. The true expression of 21st century communications is one fax machine talking to another. Modern high- speed facsimile technology has opened the telephone lines to everything from blueprints to fingerprints, including unsolicited, unwanted faxes -- the 1980s version of junk mail...
...Many skeptical eyes are turned on William Farley, the physical-fitness buff who acquired Northwest Industries, the maker of Fruit of the Loom products, for $1 billion in 1985. Last February Farley took over textile giant West Point-Pepperell in a $3 billion raid that included $1.6 billion of junk-bond financing. A fellow raider calls Farley's debt a "time bomb." While Farley once joked that "we're doing fine, except that the banks expect us to pay them back," he now refuses to discuss his finances or the subject of raiding. Says he: "I'm staying 180 degrees...