Word: smarting
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Dates: during 1990-1999
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...real estate firm Colony Capital for $125 million in cash. The deal values the property--to be rechristened Trump Marina--at $563 million and wipes $314 million in debt off its balance sheet. Says Nicholas Ribis, president and CEO of Trump Hotels: "[Donald] is vindicated, sure...It's a smart financial deal for Trump and financially for the company...
Oddly, in one sense he was. Many of his real estate deals--confiscated and resold by the feds at fire-sale prices--are today worth a fortune. If Keating had been able to ride out the real estate crash that bankrupted operators just as smart as he was, bondholders might have got their money back. But that's a junk-bond if. The Phoenician, derided as a symbol of Keating's wretched excess, is a crown jewel for its new owner, ITT-Sheraton, and worth at least twice what Keating spent to build...
...SMART START, HEALTHY START...
North Carolina has instituted a flexible program called Smart Start. Under it, parents, teachers, doctors and nurses, child-care providers, ministers and businesspeople form partnerships at the county level that set goals for the education and health care of children under six. These partnerships then administer private and public funds as they see fit. In one county, for example, administrators chose to give subsidies to new parents so that mothers could stay home from work during a baby's first year. More than half of North Carolina's 100 counties are participating in the program, at a cost...
...internal medicine at Cedars-Sinai Medical Center in Los Angeles. I've followed his career in the media since then, mostly because of his care of basketball star Magic Johnson. Ho does not seem to have aged at all in 15 years. I've met many talented and smart physicians in my professional life--but none brighter than he. He is the only person I know who deserves to be called a human encyclopedia. TERRENCE K. TRAPP, M.D. Salinas, California...