Word: 80s
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Ruckdeschel, Ventura and Loncar inhabit the lower end of the food chain that fed Michael Milken and a handful of others hundreds of millions of dollars in personal profits during the leveraged-buyout binge of the '80s. Now the continuing collapse of the junk-bond market is starving more than 270,000 First Investors clients, many of whom were lured in by deceptive tactics like those used by Ventura and Loncar. Customer losses nationwide could top $500 million...
...ministers actually threatened to resign unless Thatcher stepped down. Only three swore total loyalty. David Howell, Tory chairman of the Commons foreign affairs committee and a key Heseltine supporter, talked of an "avalanche sliding away from the fantastic Thatcher achievements of the '80s and on to a new presentation and a new assertion of the direction we already are going in. You can't stop an avalanche halfway...
...sect," insists Teachout, adding that they do have one tenet in common: "The political and intellectual legacies of our older brothers and sisters, the baby boomers of the '60s, were a flop, a failure, a disaster." He sums up those legacies as "stale '60s romanticism, wan '70s disillusion, tedious '80s whining...
...much of its life splashing in huge sea cages off the coast of Norway. The catfish du jour is probably a product of the $704 million industry centered in the Mississippi Delta and is a cosseted cousin of the wild redfish that was fished to near extinction in the '80s craze for Paul Prudhomme's cast-iron Cajun cuisine. The succulent oyster on its bed of ice could have been pampered like an orchid in Quilcene Bay on the Hood Canal in Washington, or in Tomales Bay near Marshall, Calif. The two fish that Jesus served to the multitude...
...Remember the $300-a-share United Airlines buyout that fell through? The stock closed at 99 3/4 last week. Federal Reserve Chairman Alan Greenspan should whisper to the chairman of Morgan Guaranty Trust, "Do it at $160." It's just one deal, but it could affect psychology. The crazy '80s are over, it would say ($300 a share was preposterous), but the world is not going to end, and deals can still be done at other than fire-sale prices. If investors saw UAL shoot to 160 in a deal backed by America's most highly respected bank, greed would...