‘King’ Reigns Among Junky TitlesWhat is the...

‘King’ Reigns Among Junky Titles

What is the reference of preference when it comes to describing Michael Milken?

“Junk bond king” by an overwhelming margin.

A check of 587 references to the former Drexel Burnham Lambert executive in newspapers, magazines and wire service reports in 1990 shows that he was described 35% of the time as a king, more than double the next-closest reference, “chief.” Others popular references included “former head of Drexel Burnham Lambert’s junk bond operation,” “junk bond wizard,” “junk bond guru” and “junk bond impresario.”

All told, there were about 60 different descriptions of the Encino native, who next month is scheduled to surrender to federal authorities to begin serving a 10-year prison sentence for securities fraud.

Bush’s Hometown Inn Is in Trouble

The banking industry’s real estate problems are hitting home for President Bush.

A foreclosure auction is scheduled Feb. 28 on the Shawmut Inn, a resort less than one mile from the President’s home in Kennebunkport, Me. The inn also serves as press headquarters when the President visits town, as he plans to this coming weekend.

The inn was one of the bad real estate loans made by Bank of New England, the giant Boston-based bank seized by federal regulators Jan. 6 . According to the auction company handling the sale, the inn was last assessed at nearly $4.4 million by Kennebunkport tax officials.

Briefly

A Woodland Hills firm is selling a T-shirt designed so that, when worn, body heat makes “Saddam” disappear from a map of the Middle East . . . The credit union serving employees at the Office of Thrift Supervision, which regulates the health of the nation’s savings and loans, is insolvent because of bad loans.

WHO IS MICHAEL MILKEN?

Of 587 descriptions of Michael Milken found in various major newspapers, magazines and wire service reports during 1990, “junk bond king” was the overwhelming favorite. (chart divisions are:)

Junk bond king: Includes dethroned junk bond king, defrocked king, deposed king, fallen king, junk-making king, indicted king, convicted king, ex-king, king of junk, disgraced king, one-time king and once high-flying king turned convicted felon.

Junk bond chief

Head of Drexel’s junk bond operation

Junk bond financier

Junk bond wizard

Junk bond pioneer

Junk bond guru

Junk bond czar

Junk bond impresario

Other: Includes junk bond sorcerer, maestro, trader, promoter, architect, star, investor, felon, crook, superstar, kingpin, ace, magnate, whiz, wiz, peddler, creator, evangelist, billionaire, legend, purveyor, dynamo, genius, wunderkind, maven, father, mastermind, leader, master, mogul, inventor, proponent, exponent, innovator, powerhouse, felon financier, director of the junk bond juggernaut of the 1980s, leading icon of the booming ‘80s, fountainhead of junk bonds, confessed junk bond criminal, young wheeler-dealer, pathfinder for the junk bond era, presiding financial genius of the Roaring Eighties and the toupee-wearing former junk bond chief.