Word: loaning
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That suit also demands that McCarthy be forced to repay a loan from Nichols which he used to buy a majority share in the company's stock...
McCarthy has received $4 million in dividends but has not made any payments on the loan, the Star reported...
...came last Tuesday, one day after Citron resigned and CS First Boston demanded immediate repayment of a $1.2 billion loan that the treasurer had used to buy bonds. County supervisor Harriett Wieder awoke before dawn to the sound of a police officer pounding on her door and summoning her to an emergency briefing. By 11 a.m. California time, Orange County's troubles were the talk of regulators in Washington. At 5:30 p.m. the county filed for bankruptcy protection to prevent other creditors from calling their loans and selling the fund's bonds that they held as collateral...
...frantic days that followed, Orange County authorities strove to reassure residents that life after the bankruptcy filing would go on as usual. Officials said the filing would have "no impact" on county police, fire and paramedic services and noted that a $2 billion emergency loan from Merrill Lynch would help meet payrolls. Yet despite the brave words, the county defaulted on a $110 million issue of bonds that had raised money for pensions...
...weapons now being built -- including most state-of-the-art F-15 and F-16 fighters, M-1 tanks and AH-64 helicopter gunships -- will be bound for foreign customers, not the Pentagon. The new policy being formulated by the Clinton Administration may include up to $1 billion in loan guarantees to finance more overseas sales. The Administration says such sales are not a domestic jobs program in disguise. "The basic reason for selling weapons overseas has been to advance our foreign policy goals," Pentagon spokesman Ken Bacon says. "It is not to create jobs in the U.S." Yet their...