Word: prudent
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...Wall Street Journal announced a budget freeze and limits on news space. Dow Jones chairman Warren Phillips, who built the Journal into a globe-spanning enterprise, told the staff in a memo that "adverse market conditions" would continue, particularly in the U.S., in 1991. Thus, he said, "it's prudent for us to take steps now." Days after the memo, Phillips set a July 1, 1991, date for his already expected retirement...
...answer in both cases is, "What difference does it make?" Not because the Bush administration doesn't care--because it will care if caring is prudent. No, it's because the Bush administration formulates foreign policy on an as-needed basis, stumbling from crisis to crisis...
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...