Word: bankrupt
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Dates: during 1970-1979
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...first, people stress in McLean County, meaning the one who went on to become Vice President under Grover Cleveland from 1893 to 1897). McNulta read law, as was the go-getter's custom, and almost certainly profited by his duties as appointed receiver for an extraordinary number of bankrupt railroads. He was a man of his time and place, and he thought in terms of securing the future...
...company's 102 lenders fear that if guarantees are granted, but Chrysler still goes bankrupt, federal law requires the Treasury to have a first claim on its assets. Probably not enough money could be raised from selling off its plants and other assets to cover both federally guaranteed loans and Chrysler's burdensome debts. So if Chrysler slid into bankruptcy -a real possibility because its survival plan depends not only on federal guarantees but also on many optimistic projections-the Government would grab most or all the assets...
...behind each is an owner who spends six or seven days a week there, 52 weeks a year. Often the owners are the shop's only employees, working 12 hours a day and worrying the rest. In spite of their labor, roughly a third of these small proprietorships go bankrupt within a year after they open and another third closes within five years. The mom-and-pop merchants try again and again, however, anxious to feed, clothe and bejewel us in order to nurse their infant stores along, maybe hoping that their progeny will remember the favor and take care...
...Biographer] Lytton Strachey sitting on a rock in the Isle of Skye, weeping over a lost lover he had shared with Maynard Keynes, and thinking to myself how perfectly they got their own back, Keynes by inventing an economic theory which, after a period of spurious prosperity, must infallibly bankrupt the countries which adopt it, and Strachey by overturning the gods of the Victorian age, and with them the virtues such as thrift, hard work, integrity and truthfulness which they symbolized...
Other automakers are also doing poorly. Leading Detroit's bad news bears again is Chrysler. Fears of buying a car from a company that may go bankrupt and a temporary halt in the rebate campaign combined to sink sales by 44.5% in early November. Chrysler has yard-long waiting lists for the popular front-wheel-drive Omni and Horizon models but cannot make them fast enough...