Word: debt
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Dates: during 1980-1989
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...performer. Time Warner said it will sell its Illinois-based textbook publishing unit, Scott, Foresman, for $455 million to Harper & Row Publishers, which is owned by media baron Rupert Murdoch's News Corp. When it bought Scott, Foresman in 1986, Time paid $520 million and assumed $50 million in debt. Time Warner's losses on the Scott, Foresman investment will total $175 million, which will be written off in the fourth quarter...
Time Warner had decided that the textbook division failed to fit well with its other publishing and entertainment businesses. At the same time, the sale will help reduce the $12 billion in debt that the company will assume when its merger is completed, sometime around year...
...Taggart allowed Keating to transfer $800 million in Lincoln's assets to high- risk investments. A month later he resigned from the government to become head of a Keating-controlled enterprise, TCS Financial Inc. Immediately Keating poured nearly $3 million into the business, wiping out the debt of the financially ailing firm. A friend of then FHLBB head Edwin Gray, who became his bitter enemy, Taggart wrote to Don Regan in 1986, calling Gray a "re- regulator" who was having a "very adverse impact on the ability of our party to raise needed campaign funds...
...Zolotas, who is not a member of any party, the top priority is to repair the creaking economy, which is burdened by a large public debt and a 14% inflation rate -- three times that of the European Community. Several remedial measures have already been announced, including a 5% income tax hike and a 1% reduction in public spending...
Finally, the government must guarantee a college education to anyone who wants it. This should probably be financed by a system in which people can pay off their college debt through a lifetime deduction of a percentage of their earnings...