Word: silver
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Dates: during 1980-1989
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...absolutely clear that connections were necessary to join the Indiana Guard at that time, but it's clear Quayle and his family didn't leave things to chance. A valid issue on its own, this also compounds the G.O.P. ticket's "silver spoon" problem. Second, it's hard for a politician to strike a martial pose and accuse his opponents of insufficient devotion to American military strength when he passed up his one chance to make a personal contribution to that strength...
What may deal the Hunt fortune a fatal blow is the fallout from the brothers' role in the great silver-price boom and bust of 1980. Thousands of investors who lost money in the debacle are suing the Hunts. On Saturday the brothers lost a civil case that could set an ominous precedent. A six-member federal jury in New York City found that the Hunts conspired to corner the silver market, and held them liable to pay $63 million in damages to Minpeco, a Peruvian mineral-marketing company that suffered heavy losses in the silver crash. Under federal antitrust...
...verdict in the six-month trial may darken the Hunts' prospects in a slew of other silver-crash lawsuits, which had been put on hold pending the outcome of the Minpeco case. Two class actions filed by some 17,000 investors now await hearings before the U.S. district judge who presided over last week's verdict, Morris Lasker. The Hunt family's advisers believe that no domino effect will occur, since the other lawsuits differ in some respects from the Minpeco case. But that may be wishful thinking. Says a Government official: "The Hunts may appeal and fight...
During the New York trial, Bunker Hunt testified that he began accumulating silver in 1973 as a hedge against inflation, "to invest in something I could get my hands on." By late 1979, the brothers had acquired more than 180 million oz. of bullion and coin. Prices rocketed to euphoric heights, hitting a peak of $50.35 per oz. in January...
...scratching and dunking are part of the daily ordeal of water-polo players. At age 29, with a wife and a career to attend to, Terry Schroeder might have done without the punishment. But Schroeder, captain of the U.S. team for the second consecutive Olympics, is haunted by the silver medal he and the squad won in Los Angeles four years ago. Haunted by silver? Leading the top-ranked Yugoslavs by a score of 5-2 in the final game and needing an outright win, the U.S. team got caught in a riptide. The Americans gave up three goals...