Word: scandale
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Dates: during 1980-1989
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...financially troubled PTL ministry that Jim and Tammy Bakker abandoned amid scandal last spring heard from its biggest creditor last week. As thousands of claims were filed against the ministry to meet a deadline imposed by a federal bankruptcy court, the Internal Revenue Service came in with its long-awaited bill. PTL accountants had estimated the organization's tax debt at $5 million. That is peanuts compared with the Government's primary claim: $61.8 million, nearly a third of the ministry's $170 million in assets -- a sum that more than doubles the PTL's debt load...
...betrayed the spirit if not the letter of a European Community agreement to refuse dealings with terrorists. Just as hotly, Paris denied the charge. In Washington and other allied capitals, uneasy questions were raised about what the French were up to. But the Reagan Administration, saddled with the Irangate scandal, was hardly in a position to castigate the French too harshly. At the E.C. summit meeting at Copenhagen, Chirac assured Thatcher that no ransom had been paid for hostages and no agreement made to sell arms to Iran...
Vowing a war on patronage, Washington pushed through a tough ethics law for city officials and expanded city contracts for women and minorities. Yet his tenure was not entirely free of scandal: seven city officials, including two black councilmen who are allies of the mayor, have been indicted on federal bribery and kickback charges. Despite the mayor's soaring rhetoric, there were few improvements in Chicago's notoriously inadequate public schools or the city's crime-ridden public housing projects...
Struggling to put the scandal behind it, Hutton's board recruited Robert Rittereiser, 49, from Merrill Lynch.The board forced out Chairman Robert Fomon after promoting Rittereiser to chief executive. But the company was no quick- turnaround candidate. Last year Hutton posted a net loss of $90.3 million at a time when other brokerages were prospering. Even attempts to restore the firm's prestige seemed ineffectual. Hutton hired Bill Cosby as a TV spokesman in 1986 and recently changed its motto to "We listen...
...accusations, notably one by an opposing firm that a partner bribed witnesses while representing the widow of Pharmaceutical Heir J. Seward Johnson in last year's estate battle. New York's Paul, Weiss discovered last year that a young associate, Michael David, had masterminded the "Yuppie Five" insider-trading scandal. Attorneys handling corporate mergers also sometimes get too close to the action. "Twenty years ago, lawyers said to clients, 'You can't do this,' " says Cardozo Law School Professor William Bratton. "Now the old professional values have been eclipsed by the desire to 'make the deal...