Milken's best deal? Junk-bond king Michael Milken to dodge risky jury trial with guilty plea; Wall Street's biggest star falls hardest; Plea bargain highlights
Apr. 23, 1990
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NEW YORK - In a year marked by the slamming of doors on the icons of the greed-driven '80s, Michael Milken's expected guilty plea this week will be the loudest slam yet: Milken, the most influential U.S. financier in this half century, has made a deal that will almost certainly send him to jail.
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Milken pleads guilty to fraud
Apr. 25, 1990
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NEW YORK - After four years of insisting on his innocence, junk-bond king Michael Milken pleaded guilty to securities fraud charges Tuesday.
The former Drexel Burnham Lambert senior vice president could serve a prison sentence of as many as 28 years, though securities lawyers expect the sentence to be closer to five or six years.
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You like him! You really like him! Despite hype, Trump's a hero to many
June 11, 1990
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Donald Trump's unabashed brand of self-promotion may grate on the public opinion experts. His flaunting of his wealth may strike some as greed incarnate. And the tycoon's pending divorce and reported financial troubles may make for eye-grabbing headlines. But behind all the glitz and hype, the guy's got a lot of admirers.
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The humbling of the Hunts; They auction treasures to pay debts
June 21, 1990
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NEW YORK - The Hunt brothers of Dallas, once among the richest people in the world, meekly follow a young Sotheby's public relations man through the twisting corridors of the auction house on York Avenue and 72nd Street. Yes, Nelson Bunker Hunt, 64, and William Herbert Hunt, 61, have been reduced to working "with and for" Sotheby's, as Herbert says.
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Trump on a leash; Banks save him from default but rein him in; Rescue price is humility, discipline
June 27, 1990
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NEW YORK - Donald Trump won his battle to avoid default and bankruptcy Tuesday hours before a life-or-death deadline.
Last-minute legal maneuvering let Trump's major bank creditors sidestep one holdout bank and put through a $20 million bridge loan. That let Trump pay $42.6 million on Trump Castle casino-hotel bonds. The payment, 10 days late, kept Trump from defaulting at midnight EDT. Trump and his lenders then signed an agreement in principle for a long-term rescue providing $65 million in new loans and rescheduled payments on old ones.
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Continental to fly without Lorenzo
Aug. 10, 1990
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Can Frank Lorenzo's airline fly without him?
We'll find out now that the USA's best known - and most vilified airline boss - is stepping down as head of Continental Airlines Holdings Inc.
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Trump's luck runs bad; Trump: 'You have to be tough in life'; Trump: Ivana's a deal breaker; bankers like him
Sept. 21, 1990
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NEW YORK - Clouds are welling up rapidly behind Donald Trump. Dark and foreboding, they cast a hazy pall over Central Park. Earthbound New Yorkers quicken their steps.
But from his spacious office on the 26th floor of Trump Tower, the wounded real-estate and casino mogul, his back to the windows, doesn't notice the drama in the sky. He's too busy in this hour-long interview - a rare occurrence lately - trying to glean meaning from the financial and marital storms that have clouded his life this year.
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Trump's tarnished empire; Debt loosens Donald's grip on his assets
May 21, 1991
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NEW YORK - Donald Trump fired Howard Rubenstein, his public relations consultant and friend for 17 years, a few weeks ago.
"The avalanche of bad publicity was so great" he just had to fire the PR man, Trump says. Rubenstein, who received notice in a curt letter, replies: "I understand. But I'm not sure the publicity could have been much better" no matter who was handling Trump's PR.
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Different scandals, same fight to clear names; Ailing Clark Clifford demands a quick trial on BCCI charges
July 31, 1992
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Former presidential adviser Clark Clifford, 85, indicted in a worldwide banking scandal, has demanded an immediate trial before his failing health worsens.
At a news conference Thursday, Clifford accused prosecutors of making him a scapegoat in the BCCI scandal.
