Word: milken
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Sara Maghen, 17, leaves school one period early this semester, but she isn't spending the time chatting online with friends or napping at the beach. Instead the senior at private Milken Community High School in Los Angeles commutes across town to intern at Los Angeles Superior Court. While she decides which University of California campus she will attend next fall, Maghen sorts courthouse mail, registers payments of parking tickets and observes trials. She witnesses things that few people outside the legal profession will ever see--like a private-settlement conference between two attorneys and a judge...
...latest adventures, Icahn owes a big assist to the $1 trillion hedge-fund industry, to which he is closely allied and which gives him financial heft he hasn't enjoyed since being backed by Michael Milken's junk bonds 20 years ago. And in the post-scandal age, yesterday's raider is today's shareholder activist. Icahn is playing that role to the hilt, lashing out at executive mismanagement and excess. In his view, corporate America is plagued by CEOs and boards compromised by cozy friendships and financial relationships--to the detriment of tough decision making and healthy share prices...
...collar criminals. When the stock-market bubble burst five years ago, the wave of corporate frauds that came to light inflamed the public. Since then, bruised investors have been demanding amends. Twenty years ago, a similar rash of Wall Street fraud resulted in only a few honchos like Michael Milken going to prison, and spending less than two years there. Now the pendulum has swung the other direction. In addition to jail time, Kozlowski and Swartz must pay a total of $134 million in restitution; in addition, Kozlowski was fined $70 million, Swartz $35 million...
...elder Wynn's outstanding debt. Steve made his first major foray into Vegas in 1972, buying an interest in the Golden Nugget, a seedy downtown casino. He overhauled the place, then built a new Golden Nugget in Atlantic City, New Jersey, (with financing from junk bonds floated by Michael Milken). His next big move put an indelible stamp on the Strip: Wynn opened the Mirage, a shimmering temple of camp, with white tigers behind glass in the lobby, Siegfried and Roy, and a volcano. Gambling was still the big money earner, but with Mirage, Wynn transformed Vegas into a middle...
...elder Wynn's outstanding debt. Steve made his first major foray into Vegas in 1972, buying an interest in the Golden Nugget, a seedy downtown casino. He overhauled the place, then built a new Golden Nugget in Atlantic City, N.J. (with financing from junk bonds floated by Michael Milken). His next big move put an indelible stamp on the Strip: Wynn opened the Mirage, a shimmering temple of camp, with white tigers behind glass in the lobby, Siegfried and Roy, and a volcano. Gambling was still the big money earner, but with Mirage, Wynn transformed Vegas into a middle-class...