Word: sold
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Dates: during 1990-1999
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...unique," convention-bureau spokesman Rob Powers emphasizes. "The travel industry is seeing this across the board." And reports worldwide bear him out. In Aspen, Colo., tony resorts that would normally have sold out for New Year's week by early November are still unfilled. On Thailand's balmy beaches it's been "the anticlimax of the millennium," says Imtiaz Muqbil, executive editor of Travel Impact Newswire. In London there's a prospect of empty seats greeting the Queen and the Prime Minister as they open the much vaunted Millennium Dome on New Year's Eve, while all six suites...
Marley's musical message is having no trouble finding new audiences. Legend, the Jamaican singer-songwriter's greatest-hits album, is, after 15 years and 10 million copies sold, still on the Billboard charts. Songs of Freedom, a four-CD boxed set of Marley's music, has been reissued after selling out its initial limited-edition run of 1 million copies. Chris Blackwell, head of the multimedia-entertainment company Palm Pictures and the man who signed Marley to Island Records, says Marley's lasting appeal is rooted in his approach to music. "His music was never overexposed at the time...
...services company, in 1991. Seven years later, he had built it into a $5 million business. But, he says, "we had to raise a lot more money or settle into a growth rate that in my opinion wasn't enough for long-range prosperity." So in 1998 he sold out to Gresham Computing, a British firm. Gresham coveted Open Microsystems' technology, employee team and customer list. In return, Gresham enabled Open, now renamed Gresham Enterprise Storage, to "get into deeper pockets," as Groves puts...
Then in 1996 Congress made the proceeds from most viatical settlements tax exempt, and the business really took off. Increasing numbers of terminally ill people, including those suffering from cancer or heart disease, have sold their life-insurance policies to enjoy their death benefits while they're still alive. This year alone, more than $1 billion in viatical settlements, only about half related to AIDS, will be brokered, according to the National Viatical Association (NVA), roughly 20 times as much as when the business began. Relatively healthy elderly people are also hawking their policies for some additional income; $3 billion...
Many viatical deals are marketed to seniors looking for a slightly better return on their retirement income. Ursula Linke, 60, of Silver Spring, Md., and her husband, tired of earning a relatively paltry 4% to 6% on their annuities, moved their entire life savings of $700,000 into viaticals sold by Liberte Capital Group of Toledo, Ohio, which claimed to pay 14% on a one-year maturity. "We wanted to have a sound investment, retire and have some peace and tranquillity," says Linke. After the first few quarterly payments arrived from the company, the money suddenly stopped coming. Liberte Capital...