Word: rumored
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Dates: during 1980-1989
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Continental could still see some bright spots last week. With its solvency at least temporarily assured, customers started to return their money. "Some were a bit sheepish that they were stampeded by a rumor," one bank executive noted. "We don't blame them, but they damn near did us in." Other depositors, however, seemed determined to stay away. Said one wealthy Chicagoan, who shifted the more than $1 million in his children's trust fund to First Chicago: "The worst four-letter word in banking is risk, and Continental took too many of them...
Chances that the letter, or anything else, will change the Soviets' minds before the June 2 deadline for an irrevocable decision seem about as minuscule as the chances of a 31-ft. long jump.* To the contrary, the rumor in both sports and diplomatic circles last week was that the Kremlin would try to organize a rival competition?a sort of Communist Olympics?some time this summer...
When someone starts an ominous rumor about Chicago's Continental Illinois Bank, people generally listen. Reason: the whispered tales have often been true. Continental, the biggest banking company (assets: $41.4 billion) between San Francisco and Manhattan, has during the past two years established an unfortunate record of making loans that go sour. In 1982 it suffered a major blow from the failure of Oklahoma City's Penn Square Bank, which had sold Continental $1 billion in shaky energy loans. Currently, its beleaguered borrowers run the gamut from Argentina to International Harvester. During the first quarter of 1984, Continental...
...mounting at home. According to Western residents and Libyans in Tripoli, he is less popular today with his 3.2 million countrymen than at any time since he seized power in 1969 from the aging and ineffectual King Idris. Despite the country's tightly controlled press, a highly efficient rumor machine keeps Libyans fairly well informed about the latest groundswells of resentment. The rumors suggest a spectrum of discontent that ranges from Islamic fundamentalists to students to part of the army...
...WOULDN'T THINK someone who played that position in a campaign--the tack on the other candidates' seats--would sneak out so cravenly. The latest assertion making its way through the Massachusetts political rumor mill is that Tip O'Neill, who supports Shannon, pressured Markey to quit. That seems out of character for Tip, but if Markey is re-elected and starts receiving favors from the high command, it might be worth redirecting our present scorn...