Word: scandalizes
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Dates: during 1990-1999
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...momentum continues, Kerrey could turn out to be another Gary Hart (before the scandal, obviously) or Jimmy Carter--a dark horse who basks in media coverage bright enough for electoral success...
...problems in Amex's core business come after a long string of mishaps in its diversified pursuits. The chief money drain has been its Shearson Lehman Bros. investment arm, which suffered mightily from its $962 million takeover of ailing and scandal-ridden E.F. Hutton in 1988. Shearson is just now starting to show signs of recovery from Wall Street's postcrash slump. Amex had hoped to flee the securities business, but after failing to find a buyer for Shearson, Amex injected $1 billion in capital to restructure the firm...
...losses, and was liquidated by the company in 1990. Amex had done even worse in the insurance business after buying Fireman's Fund, which suffered heavy underwriting losses. In 1986 Amex sold the company, but only after pumping more than $400 million into the business. American Express suffered both scandal and loss at its Boston Co. unit, a money-management firm that was discovered to have improperly overstated its 1988 earnings by $30 million...
...many things go wrong for American Express in such a short time? Analysts who follow the company say much of the same hubris and lack of managerial controls responsible for the Optima scandal may also be the cause of past disasters. The company's failed foray into cable TV, critics say, was an example of an unwise management decision to find synergy where none existed. The company may have lost sight of its limits, says analyst Daniel Murray of Argus Research. "If you invented your own private money, you might be a little arrogant...
...Peltz's advisers told Bruck at the time, "call him Nelson the Industrialist and make us all vomit.") In 1988 the can business would be sold to the state-owned French giant Pechiney, yielding Peltz, Milken et al. a nearly $1 billion profit (and spawning its own insider-trading scandal among French government officials...