Word: drastically
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Dates: during 1990-1999
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...stores everything from tank tops to tiaras. This week the firm hopes to persuade Citibank and other major lenders to roll over $2.3 billion of loans. But even if the creditors agree, the Canadian company must put its U.S. retail operations on a sound financial footing by taking drastic steps to trim costs and sell properties. Observes Wilbur Ross, senior managing director of the Wall Street firm Rothschild Inc. and an adviser to Federated bondholders: "The Campeau people have to get all the pieces together at once to solve this problem. The stores can get by in the period after...
...because the stagnation was too widespread and deep rooted to be cured by tinkering. Party boss Janos Kadar, the quisling who had replaced Nagy, was ousted in May 1988. He was succeeded by moderate reformer Karoly Grosz. But as in the Soviet Union, moderate reform was, by definition, inadequate. Drastic measures were necessary and, in the Gorbachev era, acceptable to Moscow. In search of new ideas and a democratic image in January 1989, parliament passed legislation permitting the formation of opposition political parties for the next election, to be held in the spring. The communists, in a desperate...