Word: junks
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...same could not be said of whip Tony Coelho, who had hoped to bump up a notch to majority leader. The Justice Department is reportedly in the preliminary stages of a criminal investigation of Coelho's investment in a $100,000 junk bond sold by indicted inside trader Michael Milken's firm, Drexel Burnham Lambert. Late Friday, after Common Cause asked the ethics committee to determine whether the bond deal was a favor, Coelho could see what lay ahead. He announced that he was quitting his leadership post immediately and resigning from Congress on June 15, his 47th birthday...
...good times Baker refers to in his title are from 1947, the year he joined the Baltimore Sun, until 1963, when Kennedy was assassinated. Yet to come were full-scale war in Viet Nam, civil unrest, Watergate, gas lines, stagflation, and the proliferation of junk food and junk politics. Unsurprisingly these not-so-good times provided Baker with his best material as a columnist. But as a memoirist he seems to be finding that Russell Baker is a tough act to follow, especially if you are Russell Baker...
Troubles for Democratic whip Tony Coelho mounted with stories of his profiting from favoritism by borrowing money to buy a $100,000 junk bond from Drexel Burnham Lambert -- a deal that ultimately netted him $6,882. Avenging Republicans hovered over fax machines, gathering new items from the stories on Coelho in California's crusading Fresno...
...Dubious" certainly was the term for fresh disclosures that the city paid $400,000 to a trade task force run by a business associate of Bradley's. The Securities and Exchange Commission, moreover, is looking into the mayor's ! holdings in stocks, real estate and junk bonds; parts of Bradley's portfolio were handled by Drexel Burnham Lambert, whose deposed junk-bond king, Michael Milken, contributed to Bradley's political campaigns...
...Perelman got restless, moved to New York City and started collecting his own companies. Beginning with a chain of jewelry stores, he added MacAndrews & Forbes, a producer of licorice extract, in 1979. Then, with the help of financing provided by Drexel Burnham Lambert's junk-bond whiz Michael Milken, came Pantry Pride, a grocery chain. In 1985 Revlon was added to his list...