Word: majorities
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Dates: during 1980-1989
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Experts found no shortage of culprits to blame for the latest debacle. A series of downbeat realizations converged on Friday, ranging from signs of a new burst of inflation to sagging corporate profits to troubles in the junk- bond market that has fueled major takeovers. The singular event that shook investors was the faltering of a $6.75 billion labor-management buyout of UAL, the parent company of United Airlines, the second largest U.S. carrier. "That's when all hell broke loose," said Robert Newman, a floor trader for Equitrade Partners. "It was very reminiscent of something I do not care...
...crash. But by last August some Wall Streeters were clearly worried. Noted Donald Stone, a floor specialist for Lasker, Stone & Stern: "I've been on the trading floor for 39 years, and I've never seen the market go up so fast for so long without a major break." Yet the bulls kept on running. Just last Monday the market closed at a historic peak of 2791.41, its fifth record high in as many sessions...
...made plans to hire hit-making producers Peter Guber and Jon Peters (Rain Man, Batman) to run the studio. But the two men had signed an exclusive five-year deal to make movies for rival Warner. The two sides tried to negotiate a settlement, but last week both filed major lawsuits. Warner wants $1 billion for the loss of Guber and Peters, while Sony rejects Warner's claims and is asking for $100 million...
...indulging in harmless hyperbole or offering his version of the time-honored aphorism that government is best when it governs least. Surely he did not seriously propose to dismantle an institution that had brought the U.S. through two world wars, restored stability during the Depression and played a major part in developing one of the highest standards of living on earth...
Acknowledging as much, the Democrats have repeatedly ducked or skirted major issues and problems and have been all but powerless to offer effective opposition to the Republican program. Part of their difficulty stems from the weakness, egotism, venality and sheer political cowardice rampant on Capitol Hill today. Much of the current session, in fact, has been devoted to investigating either former members of Congress like John Tower, Bush's first choice as Defense Secretary, or prominent members such as Speaker Jim Wright, who was forced to resign because of his ethical lapses...