Word: milken
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Wanniski, whose business clients include Michael Milken (who, although in prison, is in regular phone contact with Wanniski), refuses to divulge the identities of the mysterious "media junkies" who help him compile his ratings, but among them there are at least two alumni of Lyndon LaRouche's fanatical groups, as well as public relations flacks, a social worker, a playwright, typists, salesmen, a medical secretary and people who called in to a Denver talk-radio program and asked to be reviewers. A man who has accepted money from felon Milken, has gone on Asian junkets paid for by felon Moon...
...Executive Life had blazed a fast track to spectacular growth, grabbing market share by offering higher payouts on annuities and charging lower fees than most of its competitors. To meet its growing obligations, the insurer plunged headlong into the high-yield bond market controlled by Drexel Burnham's Michael Milken and puffed up its $10.1 billion asset base with $6.4 billion in risky junk bonds. Once the junk-bond market fizzled in 1989, First Executive Corp., Executive Life's holding company, began to sustain huge losses. California insurance officials are now investigating other large insurers to determine whether they also...
...quincentennial of his first voyage from her people's perspective. He is laptopping an epic poem on the great explorer. In pursuit of Columbus' lost diary, Roger and Vivian fly to Eleuthera in the Bahamas as guests of a junk-bond financier on the lam. This quasi Milken thinks Vivian knows the secret burial site of a golden crown that Queen Isabella gave Columbus. But what if it was a crown of a different kind...
...made -- and lost -- as much as Midas and Michael Milken put together. But finally J.R. has mellowed into a mood of valedictory twilight. Like the show he anchored, the aging Texan is again in fine form. He might have been speaking of Dallas when, in a recent episode, he mourned, "The world I know is disappearin' real fast." But it was left to his stalwart brother to put the series in perspective. "J.R.," Bobby said, "you and I have spent our entire lives tryin' to win Daddy's approval by fightin' with one another. Neither one of us givin...
...time. As an insurance entrepreneur he disdained the slow, steady process of writing policies and building reserves through careful investments to cover eventual payouts. Instead he built the company with sizzle and flash, turning in the 1980s to the high- yield junk bonds sold by Drexel Burnham's Michael Milken. Of Executive Life's $10.1 billion in assets, $6.4 billion is junk. Says Henri Bersoux, a spokesman for the American Council of Life Insurance: "No other company of that size or larger has invested so much of its assets in high-yield bonds." As the junk-bond market fizzled...