Word: swapping
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Under the plan, U.S. banks would swap their Mexican debts at a markdown of as much as 50% for new bonds that pay a somewhat higher interest rate. Despite the loss that banks would take in the trade, the new Mexican paper would be considered more secure and negotiable than the old debts. Reason: before issu bonds that would be worth $10 billion when they mature in 20 years. The U.S. bonds would then serve as collateral for the new Mexican paper. While the proposal may be a breakthrough in the debt standoff, the $10 billion in loan relief would...
...allegations that Boesky has emerged from the affair with a large part of his huge fortune intact, even after paying $100 million as a result of the charges against him. Though his attorneys claim that he is close to bankruptcy, a lawyer who knows him well says, "I would swap assets with Boesky any time." George Reycraft, who represents Boesky's former partners in a civil damage suit, claims that the speculator took $400 million out of his firm. "We just do not have a fix on his assets," says Lawyer Robert Gargill, who helped supervise the winding down...
...scene is a spy-thriller staple: idling autos drawn up at opposite ends of a bridge or a shadowed street or a landing strip; a swift, furtive swap of two men, pawns in an international power struggle. This time, though, the drama was real. At 12:40 p.m. last Monday, an Iranian passenger jet landed at Karachi Airport and taxied toward a French Falcon 50 waiting on a cleared section of the tarmac. Pakistani security police held off newsmen and photographers while French and Iranian consular officers supervised the exchange of two passengers. A few moments later, the First Secretary...
...teach. While teaching a writing class at a local college, Donner meets Owen Lift (DeVito), a rumpled, childish lunatic tormented by his mother. In a conversation about how to write an exciting murder mystery, Owen misinterprets Larry's advice and decides that Larry wants to swap murder targets with him. He plots to get rid of Margaret, convinced that Donner will bump off his Momma in return...
...pounding on the piano, writing The Ladies Who Lunch for Company, when I heard this banging on the garden door. There she was, in a babushka and no shoes, saying, 'Young man, I cannot sleep with the noise you're making.' Now she and my houseman, Lou Vargas, swap recipes, and she brings him vegetables from the country." After renting the house's upper floors to friends for years, Sondheim has expanded, allotting himself an office, a studio with a piano and an exercise room, where he cycles 40 minutes a day while watching old movies to avert a repetition...