Word: saling
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Dates: during 1980-1989
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...prospect of seeing Hoffman on stage as Shylock -- or perhaps as anything at all -- prompted Londoners to buy out essentially the entire four-month run of The Merchant of Venice, giving the play the largest advance sale of any nonmusical show in West End history. For once the actual event is no disappointment, although in director Peter Hall's shrewd reading the play is more comedy than tragedy and focuses more on Portia (played by Geraldine James of TV's The Jewel in the Crown) than on Shylock...
...Warner and rescinding the share exchange already executed and on Paramount's ability to obtain adequate financing. To cover the cost of acquiring Time's stock and meet merger-related expenses, Paramount said it expects to secure $14 billion in bank loans and raise $1.6 billion through the sale of high-interest junk bonds...
Bush did suffer one setback. He had hoped to finance $50 billion of the cost of the bailout with 30-year bonds issued by a new Government agency, the Resolution Trust Corporation, which will handle the sale of the assets of the 500 insolvent thrifts. Since the bonds will be sold by the RTC rather than the Treasury, Bush hoped they would be classified "off budget," meaning they would not be counted as part of the federal deficit. But by carrying that designation, they would have paid a higher interest rate than Government bonds. That extra interest expense would increase...
THEFT OF FUNDS. The Justice Department last week launched a nationwide inquiry into a pattern of abuse by escrow agents who pocketed money they received from the sale of foreclosed homes over a four-year period. Among the targets is a Maryland woman, nicknamed "Robin Hud," who brags that she stole $5.5 million in HUD money and gave it to the poor...
...else failed, Time could seek a so-called white knight to save it from Paramount's grasp. But almost any bidder with enough financial backing could jump into the fray without being invited. Moreover, Wall Street analysts believe that all three companies are now up for sale, since their stock is falling into the hands of speculators who will gladly sell to the highest bidder. "I bet none of the three companies will exist a year from now," says Ellen Greenspan, a leading Wall Street arbitrager...