Word: money
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Dates: during 1980-1989
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With only 17 hours to spare, Congress passed and George Bush signed a bill lifting the U.S. debt ceiling to $3.12 trillion, thus averting a default. Granted authority to draw on an additional $250 billion of other people's money, the Treasury is again able to pay the Government's bills...
Imagine how much worse it must be to get a really big government mad at you -- like the U.S. Government, in the person of former U.S. Attorney Rudolph Giuliani. That's what money manager James Sutton ("Jay") Regan, 47, seems to have done. His firm, Princeton/Newport Partners, was charged with making a series of bogus trades in 1984 and '85 to claim tax losses. The trades were shams, argued the Government, because though Princeton/Newport really did sell securities in which it really did have losses, the firm didn't really sell them because it had an unwritten deal...
...America expected to help create an excess carmaking capacity of 2.7 million autos by 1991, the marketplace is certain to be littered with casualties. A leading indicator of the struggle was the dismal performance of Detroit's Big Three during the July-September quarter, in which they all lost money on their North American operations and posted a 27.5% decline in total earnings...
...result of all the violence, school administrators across the U.S. are searching through tight budgets to find money to beef up school security. If nothing else, the schools will face legal liability if they have not taken steps to be prepared. The New York City schools now operate the eleventh largest security force in the U.S. Most city schools have locked doors; 15 of them use metal detectors; ten schools allow entry only with computerized ID cards. Cost of all the security: $60 million annually...
...story called An Exorcism, Bernard Malamud wrote of Eli Fogel, a middle-aged author suddenly saddled with a young acolyte named Gary Simson. Fogel enjoys the veneration, up to a point; his work has garnered moderate recognition and less money. But Simson's relentless requests for advice, tips on writing and letters of recommendation distract Fogel from his own efforts, in this case his slow progress in finishing another novel: "Perfection comes hard to an imperfectionist. He had visions of himself dying before the book was completed. It was a terrible thought: Fogel seated at the table, staring...