Word: marketeers
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Dates: during 1980-1989
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...determined to become a successful corporate raider. In 1985 and 1986 he attempted, and failed, to take over four different companies. In early 1988 the 38-year-old maverick managed to acquire defense contractor Singer by bidding for it when no one else would, right after the stock-market crash. Last week, however, Bilzerian finally made what will probably be his most lasting mark on Wall Street. In the first jury verdict to arise out of the Government's three-year crackdown on insider trading, Bilzerian was convicted on nine counts of securities fraud and tax violations...
Overnight the savage massacre in Tiananmen Square shattered Hong Kong's wary faith in that future. Thousands donned funeral garb to mourn the dead of Beijing. The stock market plunged 22% in one day in a paroxysm of lost confidence. Chinese flocked to mainland banks to withdraw their money, as much in anger as in fear. And the largely apolitical people of this freewheeling monument to commercialism discovered a newfound political activism...
...urgent need may be to regain control of studies being conducted to test the efficacy of various AIDS drugs. Now that doctors have medications that work, they need to find what works best. But for the past several years, experimental drugs have first been available on the AIDS black market, through which patients who felt they had little to lose began their own treatment programs. The FDA, responding to intense public pressure to demonstrate both compassion and efficiency, has established a "fast track" for the approval of AIDS drugs. However, that streamlining may have permanently distorted the traditional protections afforded...
...they can, and will carry through deals that are already under way as long as that is permitted. The dream of satisfying the demand of a billion or more new customers is too alluring to surrender easily. "You can't afford to just opt out of any world market, particularly one the size and potential of China," says Roger Sullivan, president of the U.S.-China Business Council. "For us to do that would be to just turn it over to the Japanese...
...however, directly attacked the idea that has helped the nuclear industry win all earlier elections: the proposition that nuclear power is cheaper than conventional power. The Sacramento plant produced only 40% as much electricity as expected, and its output cost twice as much as that bought on the conventional market. One result was a doubling of electricity rates. Said Bob Mulholland, who headed the campaign to close Rancho Seco: "It's the first time the debate over a nuclear plant has focused on economics rather than safety. It doesn't mean that others will vote to close plants...