Word: antitrusters
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...deal with another rival, Denver-based J.D. Edwards. That was supposed to be the big story in the software business. Then Conway's customers started talking about the Oracle offer and whether they should postpone purchases until things settled down. Even after the PeopleSoft board concluded there would be antitrust problems with an Oracle takeover, Ellison was still pressing the deal on PeopleSoft shareholders. By the end of the week, PeopleSoft and J.D. Edwards had launched lawsuits against Oracle. "I've observed his business practices before and not agreed with them," says Conway. "But this is a whole new level...
...discussions were cordial--hard to imagine after a week in which Conway compared Ellison to Genghis Khan--and the two companies exchanged fact-finding teams. The sticking point: who would run the joint business. "He said, 'I'm your man,'" says Ellison. "Conway didn't see a single antitrust problem then." (Conway does not dispute this account of the meeting but points out that discussions were over in a matter of hours.) After negotiations broke down, Ellison kept the idea of some kind of PeopleSoft deal in the back of his mind...
...which is stuck playing David to its Goliath. MoneyGram was founded in 1988, back when Western Union was spiraling toward bankruptcy. The industry leader had made a bad bet on its Telex division, which was obliterated by the sudden rise of the fax machine. But MoneyGram was dumped for antitrust reasons in 1996 after its parent company, First Data, picked up the much larger and better known Western Union, which had filed for Chapter...
DIED. BURKE MARSHALL, 80, practical, level-headed legal strategist during the Kennedy and Johnson administrations who played a critical role in the desegregation of public facilities in the South; in Newtown, Conn. As Assistant Attorney General in charge of civil rights, the former antitrust lawyer crafted a truce in 1963 between business owners and civil rights activists in the embattled city of Birmingham, Ala.; helped engineer the admission of the University of Mississippi's first black student, James Meredith; and helped draft and push through the Civil Rights...
SETTLED. AOL TIME WARNER'S LAWSUIT AGAINST MICROSOFT, with a cooperation agreement that ends a bitter rivalry between the companies. Microsoft will pay AOL $750 million to settle the antitrust suit brought by its Netscape unit and will grant AOL a seven-year license for use of Microsoft's Internet Explorer browser...