Word: prudent
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Dates: during 1990-1999
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Aggravating the slump is a worldwide credit crunch that affects everyone from auto shoppers to Third World governments. Many lenders who were burned by bad loans in the 1980s are now prudent to a fault. Says Jacobs: "The banks are basically pushing panic buttons everywhere. They are saying, 'We don't care about your situation, we want our money now.' " At the same time, the big cash exporters of the 1980s now have little to spare. Japan, which was a net buyer of $26 billion in U.S. bonds last year, dumped them to the tune of $9 billion...
Luce, distressed and puzzled, once said he regretted using the phrase American Century. He need not have. Sure, the title and the piece itself had arrogant overtones, a belief in a divinely ordained American mission. Yet there was also chastisement for American faults and some prudent qualifications...
Silverado's officers had thrown prudent banking practices to the wind, and before long the S&L was locked into a constant seesaw battle with regulators. Says a former Silverado executive: "They began playing musical chairs with their auditors, and all kinds of things were going on between the federal regulators and management because of the dubious appraisals on property. Silverado would lend a developer $10 million, plus the money he needed to pay the interest on the loan, and then when the developer came back in a year after repaying nothing, they would roll the whole loan over...
...Michael Spence--long known for his methodical, cautious and prudent leadership style--made the boldest move of his career last week. Citing personal reasons, Spence announced that he would step down as Dean of the Faculty of Arts and Sciences--the second highest position at Harvard--to take the helm of the Stanford University Business School. While academic observers described the move as a "step down" for Spence, the reality for Harvard is the loss of a talented administrator whose effect on the University will only be seen in years to come...
...market at below-market prices, and declared, "Europe is not willing to destroy its own industry" by giving Japan free access. Toyota calls that charge "groundless and meaningless," but spokesman Yoshiharu Tateishi says, "We are fully aware of the trade friction, and our approach will be modest and prudent...