Word: railcars
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Dates: during 1990-1999
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DIED. ROD MILBURN, 47, genial 1972 Olympic gold medalist who won the 110-m hurdles at Munich; from falling into a railcar full of caustic chemicals while on the job; in Baton Rouge...
...most daunting news was that the company would report a loss of $310 million for 1994, stemming in large part from its troubled railcar business. That was nearly twice the deficit that Morrison Knudsen acknowledged as recently as February. To make matters worse, the firm remained in technical default on $225 million in loans from Bank of America, J.P. Morgan and other lenders. "We are beginning to seriously doubt the company's viability," says analyst Tobias Levkovich, who follows the firm for Smith Barney...
...take long for the rest of the country to read his lips. Within two weeks, Los Angeles County abruptly canceled a perfectly legitimate railcar contract with Sumitomo, a Japanese company. Next, major-league baseball reacted with disdain to a Japanese offer to buy the failing Seattle baseball team. Baseball, said the game's commissioner, countenanced only North American ownership. It is a rather odd America-first policy that counts Canada as an American appendage. Odd too that a sport so bent on maintaining national purity should play in a park where Barry Bonds is announced as the "voltigeur de gauche...