Word: sell
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Dates: during 1980-1989
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Gambling may have brought to Atlantic City a Pompeian profusion of statues, but the city's long-standing sense of carnival still flourishes. The casino boutiques may sell Gucci leather, but the Boardwalk is a bazaar of plastic beads, mugs shaped like women's breasts, and baby sand sharks in glass jars. When Las Vegas was nothing but a jukebox in the desert, Atlantic City had clam-eating tournaments and midget boxing matches; today one of the Boardwalk's main attractions is Celestine Tate, a disabled woman who lies on a stretcher like a beached mermaid and plays a Casio...
Problems from earlier takeovers mounted in Houston, where Texas Air chairman Frank Lorenzo, who has been battling his workers, confirmed last week that he may sell part or all of Continental Airlines to raise badly needed cash. Texas Air borrowed heavily for the 1986 purchase of Continental's sister carrier, Eastern Air Lines, which is mired in bankruptcy proceedings and a seven-month- long strike by its mechanics...
...similar effect. Says Ron Anderson, vice chairman of the Bozell ad agency: "Ten or 15 years ago, there was a sense of tokenism. Some advertisers would throw a black or Hispanic into an ad because they were sensitive to minorities. Now we use blacks and Hispanics to sell a product...
...hostile takeovers. In the wake of his indictment last March for insider trading and racketeering, Milken has resigned his Drexel post and stayed far removed from the market. But speaking at a Manhattan conference on high-yield debt last week, Milken suggested that it was time to buy, not sell, junk bonds. Said he: "There is tremendous opportunity out there today...
...time the gold, frankincense and furs are gone, the mecca for wealthy consumers may be yielding its profits to a new owner. Campeau, meanwhile, must find more ways to meet $1 billion in annual interest payments. Says retailing analyst Walter Loeb: "He's going to have to sell more than just Bloomingdale's to get out of the hole he's dug for himself...