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Time - Man of the Year
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Time_Man_of_the_Year_Compact_Publishing_3YX-Disc-1_Compact_Publishing_1993.iso
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042092
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04209915.000
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1992-09-10
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946b
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27 lines
THE WEEK, Page 33BUSINESSEt Cetera
JUNK BONDS TO JAIL
Financier Charles Keating Jr., who cost investors $250
million when his Lincoln Savings & Loan Association in Irvine,
Calif., collapsed, was sentenced last week to 10 years in prison
and fined $250,000. "Charles Keating did not steal a loaf of
bread," said Harriet Chappuise, one of the elderly people who
lost money in the failure. "He stole the bread out of the mouths
of thousands of old people."
FARE DEAL
American Airlines announced that it would overhaul its
pricing structure and cut fares as much as 50%. By creating four
basic fare categories -- first class, 21-day advance, 7-day
advance and coach, for which tickets can be bought anytime --
the airline reduced its 500,000 different fares to a mere
70,000. Other airlines quickly followed suit.