Word: rig
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Dates: during 1990-1999
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...less. Embarrassed officials in London acknowledged last week that a young woman with a history of mental illness had wandered into the Yard's headquarters and ascended to the seventh floor, where a set of riot gear, including helmet and body armor, caught her eye. She liked the rig so much that she wore it home. Her horrified relatives returned the stolen gear to the bobbies, who vowed to review security procedures...
...decades, the government securities market has been considered the world's safest haven for investors. Unlike stocks and bonds, both of which were plagued by a series of insider-trading cases during the 1980s, the $2.2 trillion market for Treasury instruments was thought to be too big to rig. The Salomon scandal shook that conventional wisdom and aroused suspicion that other firms might be playing similar games. Consequently, an intimidating array of investigations by the Federal Reserve Bank, the Justice Department, the Securities and Exchange Commission -- where enforcement director William McLucas is personally heading the inquiry -- and the New York...
...sober assessment of risk. When film star Betty Grable sought to insure her famous legs, Lloyd's came up with a policy and calculated the appropriate premium. But disasters have a way of defying the laws of probability. Recent years have witnessed an extraordinary string: the Piper Alpha oil-rig blowout in the North Sea, the explosion of Pan Am Flight 103 over Scotland, the Exxon Valdez oil spill and America's Hurricane Hugo. Last week Lloyd's announced that it would post a $980 million deficit for 1988 -- the most recent year on which books can be closed, since...
These days, the entire insurance industry is struggling. But Lloyd's, which writes $9.6 billion worth of policies each year, finds itself in a particularly vulnerable position, since it specializes in the riskiest end of the market, such as oil-rig activity and communications satellites. Lloyd's structure also sets it apart. It is like a club, a society of underwriters who write policies in various specialized fields. If Lloyd's were a company, it & could go bankrupt, and stockholders would lose only their investment. Instead, Lloyd's gets its funds from investors known as names, who must show assets...
...ready to get serious," they reply encouragingly. What he doesn't know, of course, is that they're thinking metaphorically, with a little help from director Scott, with whose surrealistic reinvention of the West -- one-third desert, one-third industrial wasteland, one-third unzoned strip development -- this oil-truck rig fits right in. In Scott's eyes, and his heroines', it is a gigantic penis. And, yes, they are ready for that. Ready to blow it to smithereens with their little guns...