Word: bankrupted
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Dates: during 1940-1949
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...concern which the Government would have used as a basis for inheritance taxes. Since these taxes "would have greatly exceeded the estate value . . . held outside of Allied by either owner ... each knew that the untimely death of the other could wipe out the earning power of the company and bankrupt the surviving owner...
Dubinsky managed what probably no other labor leader could have: he wangled loans for the bankrupt International union from commercial banks. After he became president of the International in 1932, Dubinsky got his real chance in the New Deal. Seeing NRA coming, Dubinsky had softened up the industry with quick, organizational strikes, picked up 160,000 new members in six months. When NRA was nullified by the Supreme Court, Dubinsky announced that he would strike any employer who tried to back out of its agreements. Says he slyly: "First you get a whip, and then when everyone knows you have...
...Washington next month a conference of the U.S., Britain and Canada will meet to see what can be done to save America's most important ally. What worried the U.S. as much as the prospect of Britain going bankrupt was the possibility that, in an effort to stave off bankruptcy, the British might withdraw into a tight autarchic sterling bloc which would in effect split the West...
...Farmers," he added, "are running into debt because of low government prices for their forced food deliveries; they like our support of higher prices. Many merchants and businessmen are going bankrupt because of high taxes, so they join our mass demonstrations for low taxes . . . Present conditions have caused a clear left tendency...
...Long Island Rail Road last year carried more passengers (109 million) than any other road in the U.S., yet it went bankrupt three months ago. Why? Thousands of commuters who ride in & out of Manhattan every day on its crowded, squalid, undependable trains have long thought that they had the answer to that question: they thought that the Pennsylvania Railroad, which owns the Long Island, drove its subsidiary on the rocks by overcharging it for services rendered and underpaying it for services received...