Word: parts
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Dates: during 1980-1989
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This is the Social Security crowd, whose imperturbable coin stuffing accounted in large part for 55% of Atlantic City's gaming win last year. From the street corners of New York City to the hamlets of Pennsylvania, these gamblers in thick-soled white sneakers begin their pilgrimages at dawn, first making their way to deserted parking lots or pick-up points, then wobbling up the bus steps, down the aisle and into a seat. For Josephine Baumann, 71, a retired cook with the face of Edith Bunker, the trip to Bally's Park Place on a recent Wednesday...
Problems from earlier takeovers mounted in Houston, where Texas Air chairman Frank Lorenzo, who has been battling his workers, confirmed last week that he may sell part or all of Continental Airlines to raise badly needed cash. Texas Air borrowed heavily for the 1986 purchase of Continental's sister carrier, Eastern Air Lines, which is mired in bankruptcy proceedings and a seven-month- long strike by its mechanics...
Those lofty words, however, are hardly likely to clear the smog of despondency that has enveloped East Germany. Even before thousands of its most talented young people streamed to the West last week, the part of divided Germany that is still a dictatorship was clouded over with feelings of dejection and frustration -- the result of being held captive by a Stalinist government that refuses to change when the world all around it is changing...
...bond investors is that one really colorful case of corporate distress might set off a selling spree in the volatile market for the high-yield securities. Last week their fears shot to the surface when Canada's Campeau Corp. said it might default on its debt, which is in part composed of junk bonds. That disclosure sparked the market's worst drubbing since the Crash of 1987, as traders rushed to dump their holdings. During the week, junk-bond issues fell in price by $10 to as much as $130 for each $1,000 in face value. The rout left...
...unusual situation. Hungary, along with Poland, is the most enthusiastic East- bloc supporter of Mikhail Gorbachev's reforms. Moreover, Gorbachev has pledged noninterference in East European affairs. At the same time, Gorbachev does not want to preside over the collapse of the Warsaw Pact. Moscow's unease may in part explain the arrival of Soviet Politburo Member Yegor Ligachev in East Berlin last week. Moscow said the trip was long planned, but there was little doubt that the presence of Ligachev, a hard-liner known for his resistance to Gorbachev's reforms, could not help reassuring intransigent East Germany that...