Word: prudent
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Like most people, highly placed public servants yearn for fatter paychecks. Unlike most people, some of those public servants -- namely, Congressmen -- are in a position to vote raises for themselves. Or cuts. In the Depression year of 1932, a politically prudent concern for seemliness prompted Congress to slash its salaries 10%. That is not likely to happen in 1987. But as members of the 100th Congress weigh the very real financial needs of officials in all branches of Government, including themselves, they are painfully aware of how public sentiment is running. During a call-in poll last month, ABC television...
...flow plan has indeed reduced the number of aircraft stacked in the skies in bad weather around major airports. Instead, the delays are taken in "gate holds" on the ground; planes are not allowed to leave until they have a chance to land promptly at their next stop. This prudent procedure caused more than 70,000 holiday travelers around the nation to be delayed last week when fog closed Atlanta's Hartsfield International Airport, a major airline hub. While the air-flow controls may annoy passengers eager to get going on their trips, pilots and controllers prefer...
...sample his hearty apple pie. Eastwood, the actor turned mayor of Carmel-by-the-Sea, Calif., fired off the recipe to The Mayors' Cookbook (Acropolis Books; $14.95), a collection of more than 300 city leaders' favorite dishes. The contents are not only eclectic but reflect a politically prudent regional loyalty: Ed Koch of New York City advocates pasta primavera and Kathryn Whitmire of Houston sings the merits of huevos con chorizo (eggs with sausage). But gourmets may balk when it comes to the Lone Star broccoli casserole, the preferred dish of Mayor Jerry V. Debo III of Grand Prairie, Texas...
...decades the term junk bonds referred primarily to the downgraded securities of companies that had run into financial trouble. Standard & Poor's, the investment-research firm, classifies junk bonds as those rating lower than BBB on a scale of AAA to D. Few prudent investors wanted to touch such securities until the 1970s, when a young Drexel investment banker named Michael Milken began touting them as a good deal. He contended that their high yields, typically 3% to 5% above those of U.S. Treasury bonds, were extremely attractive, since junk bonds had historically gone into default only slightly oftener than...
...were less than 1% of its $10 billion worldwide sales last year. Said Kodak Chairman Colby Chandler: "We cannot see with any certainty a time when South Africa will be free from apartheid. The implication of that situation is a degree of business risk that we do not consider prudent." Kodak's 466 local employees, 61% of whom are nonwhite, have been told that they will lose their jobs...