Glengarry, Glen Ross Historical Context

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While most people may not be familiar with the inner workings of a high pressure real estate sales office, the world surrounding Glengarry Glen Ross in 1983, the year the play was completed and first performed, certainly made that world seem not only plausible but almost inevitable. The 1980s in American business were a time of corporate takeovers, both friendly and unfriendly, in which those engineering those takeovers reaped personal rewards in the tens of millions of dollars. Frequently, those takeovers were funded by high-yield "junk bonds," first proposed by Drexel Burnham Lambert executive Michael R. Milkin. Assets of the target company were pledged to repay the principal of the junk bonds, which yielded thirteen to thirty percent.

Former Japanese prime minister Kakuei Tonaka was convicted in Tokyo District Court October 12 of having accepted a $2.2 million bribe from Lockheed Corporation to use his influence to persuade All Nipon...

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This section contains 507 words
(approx. 2 pages at 400 words per page)
Buy the Glengarry, Glen Ross Study Guide
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Glengarry, Glen Ross from Drama for Students. ©2005-2006 Thomson Gale, a part of the Thomson Corporation. All rights reserved.