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CenTrust Bank
CenTrust Bank, A State Savings Bank was a Miami, Florida-based savings and loan. Its failure in 1990 was one of the largest and costliest failures of the savings and loan crisis. Background and downfall Dade Savings & Loan Association opened in 1934. In 1983, the failing thrift, with 32 branches and $2.2 billion in assets, was acquired by real estate developer David L. Paul for $32 million and the following year was renamed CenTrust Savings & Loan Association. It grew rapidly to become the largest thrift in the southeastern United States, with over $9 billion in assets at its peak in 1989. The bank was placed into government conservatorship in February 1990, with Great Western Bank acquiring the bank's assets in June 1990. CenTrust had $8.2 billion in assets at that time and was the 23rd largest thrift in the country. The failure resulted in an estimated $1.7 billion loss to the government at the time it was seized. Chairman and CEO David Paul was convicted in November 199 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Credit And Commerce International
The Bank of Credit and Commerce International (BCCI) was an international bank founded in 1972 by Agha Hasan Abedi, a Pakistani financier. The bank was registered in Luxembourg with head offices in Karachi and London. A decade after opening, BCCI had over 400 branches in 78 countries and assets in excess of US$20 billion, making it the seventh largest private bank in the world. BCCI came under the scrutiny of financial regulators and intelligence agencies in the 1980s, due to concerns that it was poorly regulated. Subsequent investigations revealed that it was involved in massive money laundering and other financial crimes, and had illegally gained the controlling interest in a major American bank. BCCI became the focus of a massive regulatory battle in 1991, and, on 5 July of that year, customs and bank regulators in seven countries raided and locked down records of its branch offices during Operation C-Chase. Investigators in the United States and the UK determined that BCCI ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Kerry
John Forbes Kerry (born December 11, 1943) is an American attorney, politician and diplomat who currently serves as the first United States special presidential envoy for climate. A member of the Forbes family and the Democratic Party, he previously served as the 68th United States secretary of state from 2013 to 2017 under Barack Obama and as a United States senator from Massachusetts from 1985 to 2013. He was the Democratic nominee for president of the United States in the 2004 election, losing to incumbent President George W. Bush. Kerry grew up as a child of military personnel in Massachusetts and Washington, D.C., before attending boarding school in Massachusetts and New Hampshire. In 1966, after graduating from Yale University, he enlisted in the United States Naval Reserve, ultimately attaining the rank of lieutenant. From 1968 to 1969, during the Vietnam War, Kerry served an abbreviated four-month tour of duty in South Vietnam. While commanding a Swift ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Senatorial Campaign Committee
The Democratic Senatorial Campaign Committee (DSCC) is the Democratic Hill committee for the United States Senate. It is the only organization solely dedicated to electing Democrats to the United States Senate. The DSCC's current Chair is Senator Gary Peters of Michigan, who succeeded Nevada‘s Catherine Cortez Masto after the 2020 Senate elections. DSCC's current Executive Director is Christie Roberts. List of chairs Recent history 2001–2002 election cycle Patty Murray became the first female Chair of the DSCC in 2001. Her team raised more than $143 million, beating the previous record by $40 million. However, the Democratic party lost two seats in the subsequent election. The current President's party had not taken control of the Senate in a midterm election since 1914. This result may be attributed to George W. Bush's post-9/11 popularity and the death of Senator Paul Wellstone of Minnesota, who had been favored to win. 2005–2006 election cycle Chuck Schumer cha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fort Lauderdale Sun Sentinel
The ''Sun Sentinel'' (also known as the ''South Florida Sun Sentinel'', known until 2008 as the ''Sun-Sentinel'', and stylized on its masthead as ''SunSentinel'') is the main daily newspaper of Fort Lauderdale, Florida, as well as surrounding Broward County and southern Palm Beach County. It circulates all throughout the three counties that comprise South Florida. It is the largest-circulation newspaper in the area. Paul Pham has held the position of general manager since November 2020, and Julie Anderson has held the position of editor-in-chief since February 2018. The newspaper was for many years branded as the ''Sun-Sentinel'', with a hyphen, until a redesign and rebranding on August 17, 2008. The new look also removed the space between "Sun" and "Sentinel" in the newspaper's flag, but its name retained the space. The ''Sun Sentinel'' is owned by parent company, '' Tribune Publishing''. This company was acquired by Alden Global Capital, which operates its media properties t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Memorex
Memorex Corp. began as a computer tape producer and expanded to become both a consumer media supplier and a major IBM plug compatible peripheral supplier. It was broken up and ceased to exist after 1996 other than as a consumer electronics brand specializing in disk recordable media for CD and DVD drives, flash memory, computer accessories and other electronics. History and evolution Established in 1961 in Silicon Valley, Memorex started by selling computer tapes, then added other media such as disk packs. The company then expanded into disk drives and other peripheral equipment for IBM mainframes. During the 1970s and into the early 1980s, Memorex was worldwide one of the largest independent suppliers of disk drives and communications controllers to users of IBM-compatible mainframes, as well as media for computer uses and consumers. The company's name is a portmanteau of "memory excellence". Memorex entered the consumer media business in 1971 and started the ad cam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Playtex
Playtex is an American brand name for undergarments, baby products, gloves, feminine hygiene products, and sunscreen. The brand began in 1947 when International Latex Corporation (ILC) created a division named Playtex to produce and sell latex products. Playtex was the first to advertise undergarments on national television in 1955, written by Howard Shavelson at Olgilvie and Mather, and the first to show a woman wearing only a bra from the waist-up in a commercial in 1977. They developed space suits for the Apollo program. Playtex-branded tampons were introduced in the 1960s and became the primary competition to incumbent Tampax. Playtex invented the plastic tampon applicator in 1973. It was one of the tampon manufacturers that were sued for aggressively advertising over-absorbent tampons that led to toxic shock syndrome. Playtex was acquired by JBS USA#Esmark, Esmark in 1975, and then by Beatrice Foods in 1985. A year later, it was acquired for $1.25 billion, and its cosmetics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Continental Corporation
American Continental Corporation was a Phoenix, Arizona-based p. 108. real estate company of the 1970s and 1980s. History The company was created in 1978 pp. 161–163. as a spin-off of American Financial Group, meant to do residential home construction. Its chairman was Charles Keating, who moved to Phoenix to run it. By 1981, Keating had two thousand employees on his payroll and was one of the largest land developers in Arizona, benefiting from a home building boom in the state. In February 1984, American Continental Corporation acquired the underperforming Lincoln Savings and Loan Association for $51 million. Much of American Continental's assets were in the form of Arizona real estate, junk bonds, and mortgage-backed securities. Lincoln Savings expanded into aggressive, risky land development deals and financial arrangements, including loans due to American Continental. For most of 1987, American Continental was profitable, but by 1988, losses mounted, due to financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Los Angeles Times
The ''Los Angeles Times'' (abbreviated as ''LA Times'') is a daily newspaper that started publishing in Los Angeles in 1881. Based in the LA-adjacent suburb of El Segundo since 2018, it is the sixth-largest newspaper by circulation in the United States. The publication has won more than 40 Pulitzer Prizes. It is owned by Patrick Soon-Shiong and published by the Times Mirror Company. The newspaper’s coverage emphasizes California and especially Southern California stories. In the 19th century, the paper developed a reputation for civic boosterism and opposition to labor unions, the latter of which led to the bombing of its headquarters in 1910. The paper's profile grew substantially in the 1960s under publisher Otis Chandler, who adopted a more national focus. In recent decades the paper's readership has declined, and it has been beset by a series of ownership changes, staff reductions, and other controversies. In January 2018, the paper's staff voted to unionize a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lincoln Savings
Lincoln most commonly refers to: * Abraham Lincoln (1809–1865), the sixteenth president of the United States * Lincoln, England, cathedral city and county town of Lincolnshire, England * Lincoln, Nebraska, the capital of Nebraska, U.S. * Lincoln (name), a surname and given name * Lincoln Motor Company, a Ford brand Lincoln may also refer to: Places Canada * Lincoln, Alberta * Lincoln, New Brunswick * Lincoln Parish, New Brunswick * Lincoln, Ontario ** Lincoln (electoral district) (former), Ontario ** Lincoln (provincial electoral district) (former), Ontario United Kingdom * Lincoln, England ** Lincoln (UK Parliament constituency) * Lincoln Green, Leeds United States * Lincoln, Alabama * Lincoln, Arkansas * Lincoln, California, in Placer County * Lincoln, former name of Clinton, California, in Amador County * Lincoln, Delaware * Lincoln, Idaho * Lincoln, Illinois * Lincoln, Indiana * Lincoln, Iowa * Lincoln Center, Kansas * Lincoln Parish, Louisiana * Lincoln, M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Drexel Burnham Lambert
Drexel Burnham Lambert was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, it was a Bulge Bracket bank, as the fifth-largest investment bank in the United States. The firm had its most profitable fiscal year in 1986, netting $545.5 million—at the time, the most profitable year ever for a Wall Street firm, and equivalent to $ billion in . Milken, who was Drexel's head of high-yield securities, was paid $295 million, the highest salary that an employee in the modern history of the world has ever received. The firm's aggressive culture led many Drexel employees to stray into unethical, and sometimes illegal, conduct. Milken and his colleagues at the high-yield bond department believed the securities laws hindered the free flow of trade. Eventually, Drexel's excessive ambition led it to abuse the junk bond market ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High Yield Bonds
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events, but offer higher yields than investment-grade bonds in order to compensate for the increased risk. Default risk As indicated by their lower credit ratings, high-yield debt entails more risk to the investor compared to investment grade bonds. Investors require a greater yield to compensate them for investing in the riskier securities. In the case of high-yield bonds, the risk is largely that of default: the possibility that the issuer will be unable to make scheduled interest and principal payments in a timely manner. The default rate in the high-yield sector of the U.S. bond market has averaged about 5% over the long term. During the liquidity crisis of 1989-90, the default rate was in the 5.6% to 7% range. During the pandemic of 202 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
