Word: zelle
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...interest on part of their debt by slashing prices and wreaking havoc on their competitors. Most companies that take refuge in Chapter 11 ultimately fail anyway, critics say, leaving creditors with even fewer assets than if the firms had been liquidated in the first place. Says Sam Zell, a Chicago financier: "It isn't good for the economy to prop up cripples and hand them unfair advantages that allow them to bleed income and help destroy the healthy competition...
Experts say big firms should speed through Chapter 11 in the same no- nonsense way. Chicago investor Zell would give companies an "absolute deadline" of one year to reorganize or go out of business. "By having little discipline, you create a huge playing field for a lot of ghouls to make a living," he says. "They're all feeding at the trough." For all the richness of his metaphors, Zell has a point. Tight deadlines could curb Chapter 11 abuses by encouraging companies to get out of court quickly and return to the business of surviving in the marketplace without...
PROGRESSIVE WHITE Southerners are scared by Buchanan's campaigning success. Two Democrats and a Republican--former Louisiana Governor Buddy Roemer, Georgia Governor Zell Miller and South Carolina Governor Carroll Campbell-blasted the Challenger's campaign tactics on Sunday morning television. And it's no accident that the Journal and Constitution article covering the Buchanan campaign ended with an excerpt from a conversation between the candidate and Robin Jackson, the president of the Houston county NAACP...
...Clinton event in Atlanta on Wednesday, Georgia Gov. Zell Miller criticized what he called the former senator's "soft" stand on the death penalty--which Clinton proudly supports...
Political bribery is another ripe area of investigation. In Georgia last week Governor Zell Miller and house speaker Tom Murphy testified before a federal grand jury probing reports of payoffs to legislators for passing a law enabling First American to buy the National Bank of Georgia when both banks were controlled by B.C.C.I. A report of those alleged bribes originally came into the hands of the CIA in 1986, according to TIME sources...