Word: reasonableness
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Dates: during 1980-1989
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Milken's junk-bond department, which he moved from Manhattan to Beverly Hills not long after he formed it a decade ago, quickly became the engine of the Wall Street firm's furious growth. One reason is that junk bonds earn hefty fees: Drexel charges 3% to 4% of an offering's total value, compared with a fee of less than 1% for a higher-grade issue. Milken's web of buyers and sellers for the bonds has given him a virtual lock on the market, though the entry of such competitors as Morgan Stanley and First Boston has whittled...
...agree to settle all disputes with peaceful means, and disarm? This was the aim. The U.N. Charter was a great beacon set on a hill, the great light toward which we were supposed to be working. We haven't had World War III. I don't see any reason to be downhearted. One should be frustrated, and certainly working in the U.N. was a great exercise in that. And one should be more determined than ever to keep after the basic objective...
LBOs do have some strong defenders, and not just among the executives who grow rich from them. Some financiers and economists argue that increased leverage can be a benefit to companies, especially those in mature industries like tobacco. Reason: these businesses produce a lot of cash but call for relatively little research or development. For them, one efficient way to distribute profits to shareholders is simply by buying up stock...
...mother to 16 adopted children, many of them severely handicapped, plus three of her own. Apart from her more formal duties as a consultant, she serves the foster families as a sort of group mother and their public stand-in. "And yet I also know that the only reason it's going to hurt so much when the child dies is because they loved him so much when he was alive." For this privilege, the state pays the foster families a monthly stipend of $1,040 a child...
...reason for the shortcomings of the reports is that they were prepared before it was clear who the next President would be. Had a non-Washingtonian $ like Massachusetts Governor Michael Dukakis won, he might have needed suggestions on how to set up an Administration and order his priorities. For Bush, such promptings are old hat. For example, by the end of last week he had at least begun work on each of the four "key decisions" listed in the 68- page foreign policy transition manual prepared by the Center for Strategic and International Studies...