Word: strokings
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While the huge fine sapped Drexel's strength, the killing stroke was the severe slump in the $200 billion junk-bond market. Several factors -- a rising default rate, a slowing economy and a new federal law requiring S&Ls to dispose of their junk bonds -- conspired to send the prices of such securities plunging to 50% or less of their face value since last fall. Stuck with more than $1 billion in devaluing junk, Drexel's credit rating began sliding, and its banks cut off credit two weeks ago. The parent company, starved for cash, began to siphon money from...
...private enterprise was once again permitted, farmers could keep or sell more of their crops, overtime pay was restored, a new state bank reformed the currency (sound familiar?). Predictably enough, improvements soon followed -- production up, trade up. But in this ambiguous moment of success, Lenin suffered a stroke. He struggled to stay at his post, to finish his work, but two more strokes increasingly paralyzed him, and after 22 months of decline, he died in 1924, at only...
...fence, were divided for 32 years. In the old days, getting from Zicherie to Bockwitz entailed a drive of 120 miles and special permission, rarely given, to enter the border zone. Few took the trouble. On Nov. 14 East German workers cut the wire, and now hundreds of two- stroke Trabants pour across the line every day, loaded with East German shoppers headed to Wolfsburg to buy cheap clothes or tropical fruit -- or to find "gray market" jobs to pay for their purchases. And, increasingly, Volkswagens and Opels trundle in the other direction as former East Germans head back...
...A.N.C. leadership's response was cool. In a statement released in Stockholm, where Tambo is recuperating after a stroke, the Congress said De Klerk's steps were important but expressed concern that the state of emergency is still in place and that some of the government's opponents would continue to be detained. It said it would review the prospects for negotiation, but in the meantime asked all countries not to do "anything to lessen the isolation of the apartheid regime...
...dating back nearly 2 million years, is complex. Such phrases as pig out, pigheaded and hog fat suggest distaste for an ungainly critter that spends most of its time wallowing in muck. (Pigs have few sweat glands and need mud -- or preferably, clean water -- to protect themselves from heat stroke.) But China's Year of the Pig represents prosperity, and pigs have been linked with deities in many cultures...