Word: money
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Dates: during 1990-1999
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...economic grounds. They embed highly controversial political and social judgments. Just how much government do the people want, and what do they think it should do? Are the pending surpluses a heaven-sent opportunity to spend more on high priorities like education while still reducing debt? Or is the money likely just to be wasted, whereas if put into the pockets of citizens through tax cuts, it would be spent productively? The President and Congress elected next year will of course not pass either plan in toto. Whatever initial deal they strike can only be a compromise that may well...
John Groves, 36, exemplifies both trends. He founded Open Microsystems, an Austin, Texas, electronic-software-and-services company, in 1991. Seven years later, he had built it into a $5 million business. But, he says, "we had to raise a lot more money or settle into a growth rate that in my opinion wasn't enough for long-range prosperity." So in 1998 he sold out to Gresham Computing, a British firm. Gresham coveted Open Microsystems' technology, employee team and customer list. In return, Gresham enabled Open, now renamed Gresham Enterprise Storage, to "get into deeper pockets," as Groves puts...
...many cases, if the viator lives longer than expected, investors can end up having to pay premiums to maintain the policy. And unlike stocks or bonds, these are highly illiquid investments. That means that in the event of an emergency, there's no quick, easy way to get your money back...
...viatical is not another impotence wonder drug. Rather, a viatical (from the Latin viaticum, a payment given to Roman officials before embarking on a journey) is a way for a terminally ill or elderly person (the viator) to get money before he dies by selling his life-insurance policy at a discount. The discount, usually 10% to 40% of the policy's face value, is based on the viator's life expectancy; once the viator dies and a broker takes a commission, the investor collects the rest of the benefits. A decade ago, viaticals were embraced by the AIDS community...
...into viaticals sold by Liberte Capital Group of Toledo, Ohio, which claimed to pay 14% on a one-year maturity. "We wanted to have a sound investment, retire and have some peace and tranquillity," says Linke. After the first few quarterly payments arrived from the company, the money suddenly stopped coming. Liberte Capital blames its escrow agent for the problem. Now Linke and her fellow investors' money is frozen while a court-appointed receiver tries to resolve the dispute...