Word: junks
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...Aryeh flew to Geneva to pick up his purchase. He was disappointed with its appearance and refused to pay, fearing that it was a fake. Says Aryeh: "Faberge made very few Imperial eggs, and they are all masterpieces. The one I opened in Switzerland was junk." Christie's officials insisted the egg was genuine. After months of haggling, Christie's sued Aryeh. Finally, the auction house produced a letter from British Art Expert A. Kenneth Snowman, the world's leading authority on Faberge, who declared the egg "undoubtedly" an Imperial Faberge. Aryeh paid the $250,000, plus...
...want to do any of this junk," he mutters. "There must be something where I can do all of this stuff at once..." His voice trails off and he quickly writes a new option, "desert war in Libya." He scribbles, "PSYCHE" across his notepad and returns to studying and life with renewed vigor...
Nonetheless, some officials are taking measures to slow down or control the corporate wheeling and dealing. The Federal Reserve Board has been concerned about the financial impact of consolidations and is seeking to make it tougher to float junk bonds. Under a ruling likely to take effect in January, the Fed would limit the size of many junk-bond issues to 50% of the amount offered for a company. The move could cause a slowdown in takeovers and buyouts, at least until ingenious Wall Street moneymen devise new methods of raising funds...
...perhaps the most dangerous side of the recent rush to consolidate. Federal Reserve Chairman Paul Volcker has warned that the borrowing is not "compatible over time with economic and financial stability." Warren Buffett, an investor with large holdings in Capital Cities and other firms, is blunt: "One day junk bonds will live up to their name." Many economists and businessmen believe that the U.S. cannot have a strong economy if it is based on companies burdened by too much debt...
...A.M.A. would have a hard time persuading the court that a total ban on advertising was necessary to achieve the goal of reduced smoking. Some also point out that any legal theory upholding a cigarette-ad ban could apply to a host of "dangerous" products -- from alcohol to junk food -- raising the problem of where to draw the line...