Word: shores
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Sharks have long been regarded as terrors of the deep. The mere sight of that telltale dorsal fin cleaving the water's surface instantly sends swimmers racing for the shore (with strains of the ominous two-tone theme from Jaws pounding in their heads). But in recent years these perilous predators have become a popular American entree. Commercial shark fishing has begun to threaten several species, including the thresher, mako and hammerhead. "At this point, we're talking about a marked decline," says Charles Manire, a shark researcher at the University of Miami. "But if it doesn't stop...
...fund is in great danger of exhaustion, and we may all have to bear the brunt. My hunch is that at the rate the fund is shrinking, the banks don't have the resources to shore it up. We can raise the premiums they pay in, but that may just send more banks into ruin...
...California's Landmark Land Co., has been stuck for months in that great sand trap of the American economy, the savings and loan crisis. Landmark owns the resorts through a New Orleans subsidiary, Oak Tree Savings Bank, which is under pressure from federal regulators to raise some cash and shore up its finances. As a result, Landmark agreed last week to sell nine golf clubs and resorts for an estimated $739 million to an investor group led by Tokyo's Daiichi Real Estate...
...Deposit Insurance Corp. expects 180 banks with total assets of $70 billion to fail this year. The cost of closing them will drain more than half the cash now in the FDIC fund that insures bank deposits, leaving a meager $4 billion on hand, unless something is done to shore up the fund...
...shaky health of the industry led Congress last week to introduce bills to shore up federal deposit insurance and strengthen federal bank supervision. Sponsors included Henry Gonzalez, the Texas Democrat who chairs the House Banking Committee. Meanwhile, the Treasury Department is drafting plans to permit banks to enter new fields to increase their profitability. The key points in the proposals...