The troubled investments in telecommunications are a departure from the strategy that made Sid Bass a billionaire.

It detailed write-downs and write-offs and went over a "watch list" of troubled investments.

One indication of Mr. Hicks's determination was the quiet departure of two partners involved in some troubled investments.

The company said 1,000 to 1,200 of the job cuts will come at the bank's troubled investment banking operations, Dresdner Kleinwort Wasserstein.

And Hees Bancorp Inc., the merchant banking operation, has watched its stock fall because of troubled investments in real estate and natural resources.

Another troubled investment is a 129,000-square-foot office building, known as the Atrium, in suburban Denver.

Hollywood Park suffered a string of losses starting in 1986, largely because of a troubled investment in another local race track, Los Alamitos, and some surrounding real estate.

Most of the troubled investments are in junk bonds.

The move temporarily bailed out Mr. LeBow, giving his troubled investments more capital.

While his pocketbook will not be affected by the verdict, the trial put a spotlight on troubled investments.