Et 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.