Word: backdowns
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...banker who served as Ansett's board chairman suggested that he sell out to competing Australian National, Ansett fired him, eventually bought out A.N.A. himself for $6,700,000. When the government ordered him to raise fares along with Trans-Australia, Ansett stubbornly refused and forced a backdown. "I've got a kind of grim determination," he says. "I never accept defeat...
...hours passed, Spiridonov urged Lamb to lower the tail gates, to have his men stand up in the trucks, to do anything that would even hint of a backdown. Lieut. Lamb refused. Finally, 41 hours after it began, the blockade was lifted. "We will clear you on your terms," said a Russian officer...
They showed how, after Khrushchev's backdown, the Soviet Union's "offensive" missiles and bombers were, stage by stage, dismantled, crated, hauled to Cuban ports, loaded onto freighters and shipped back toward Russia...
...businessmen concluded that Blough had been wrong, and that if the President had only held his temper, the workings of the free market at a time of softness in steel demand would have forced Blough to rescind his price rises within a few weeks anyway. The President won a backdown from Big Steel when Chicago's Inland Steel refused to go along with Blough's move. Inland executives have repeatedly implied that they would not have raised prices even had the President not intervened...
...Market. The Russian backdown over Cuba was a tonic to the market, and it was followed by a series of surprisingly strong economic indicators suggesting that a recession was not just around the corner, after all. Some Wall Streeters also count heavily on the extra lift that the economy should get from a tax cut next year. They also believe that the Administration's mounting deficits should set off the kind of inflation that boosts stock prices (because investors then move heavily into common stocks to protect their depreciating dollars...