Word: michaell
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Dates: during 1980-1989
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...farms carved out of its northern reaches drain pollutants into its water; Air Force jets boom over its skies. The 1.4 million-acre Everglades National Park, created in 1947, has become an endangered relic in the nation's fourth most populous state. "Make no mistake," says outgoing park superintendent Michael Finley, "the Everglades is dying...
...billion junk-bond market has grown explosively since the early 1980s, when Drexel Burnham Lambert's Michael Milken pioneered the use of high- yield bonds as a means to finance hostile takeovers. In the wake of his indictment last March for insider trading and racketeering, Milken has resigned his Drexel post and stayed far removed from the market. But speaking at a Manhattan conference on high-yield debt last week, Milken suggested that it was time to buy, not sell, junk bonds. Said he: "There is tremendous opportunity out there today...
...over financing. The father was cautious, the son a plunger. Says Ingersoll: "He was still thinking in hundreds of thousands when I was thinking in millions. He never really understood the fungibility of debt and equity." Later, capital for some deals was assembled by indicted Drexel junk-bond financier Michael Milken, whom Ingersoll regards as a close friend. Says media analyst John Morton of Lynch Jones & Ryan in Washington: "From all we can learn, the company is healthy, although heavily leveraged. The small papers are cash cows. I admire him for taking this risky venture. But I'm from Missouri...
Senior Vice Presidents: Richard W. Angle Jr., Michael J. Klingensmith...
ASSOCIATE EDITORS: William R. Doerner, William A. Henry III, Marguerite Johnson, Richard Lacayo, John Langone, Michael D. Lemonick, Richard N. Ostling, Sue Raffety, Ariadna Victoria Rainert, J.D. Reed, Jill Smolowe, Susan Tifft, Anastasia Toufexis, Michael Walsh, Richard Zoglin...