Word: sell
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Dates: during 1980-1989
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...have been severely strained by a combination of dwindling help from the debt-ridden national Government and Washington-mandated increases in spending for catastrophic health care and nursing homes. State officials also blame some unexpected consequences of the 1986 federal tax-reform law. Late in 1986 taxpayers rushed to sell securities and property before capital-gains taxes jumped from 20% to a current maximum of 33%. Some state planners rosily assumed this high revenue would continue. Cigarette smokers will pay for the miscalculation...
...really possible that Howard Johnson's simply disappeared, and without anyone saying farewell? No, the reality is more interesting. From the day in 1928 when Howard D. Johnson opened his first roadside stand, in Wollaston, Mass., to sell hot dogs and a rich chocolate ice cream of his own formulation (16% butterfat), the next half-century was largely a story of growth and profit. But that success inevitably brought increased competition from all kinds of newcomers, like McDonald's, and the gas shortages of the 1970s hurt all roadside businesses considerably. There were also some who claimed that baby-boom...
...depressed earnings were just one sign of Wall Street's myriad woes. Drexel Burnham Lambert, the junk-bond pioneer, said last week it plans to sell its retail brokerage business, which trades for small investors, and concentrate on large institutional clients. That move and cutbacks in other divisions will slash Drexel's payroll of 9,000 employees by about one-third. In a candid statement, Drexel said "adverse publicity" about its legal problems had helped drive it from the retail market. Earlier this month the company settled a Securities and Exchange Commission suit by agreeing to fire its indicted junk...
...associations and commercial banks. President Bush's plan to bail out the S & L industry, which won Senate approval last week by a vote of 91 to 8 and now faces House consideration, calls for the Federal Deposit Insurance Corporation to take over some 400 hopelessly ill thrifts and sell off their real estate in the next few years. During this huge liquidation the Government will hawk everything from office towers to condominiums, sewage plants to gravel pits, shopping malls to single-family homes...
...combined with the FDIC under the Bush plan, has seldom shown a talent for getting top dollar. In Guerneville, Calif., a small town north of San Francisco, the FSLIC took over a condominium project with more than 20 units two years ago. The original owners had been trying to sell the units a few years earlier for an average of $140,000 each, though market conditions suggested that a price of $75,000 was more appropriate. When the FSLIC took over, it sold all the condos for about $27,000 apiece...