Word: bidding
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...statement was reasonably candid, but not completely so. Hart, one of those rare politicians who seem to be more powerful nationally than in their home state, did not acknowledge that he might have lost a bid for a third Senate term. Colorado has turned more conservative since Hart squeaked through to a Senate re-election in 1980 with just 50% of the vote. Polls have given him only a shaky lead over Congressman Ken Kramer, a likely Republican senatorial candidate. Even a victorious Senate run would be a financial drain on Hart, who still has to pay off $3.5 million...
...next two years he started to set up his own organization, and by September 1973 it had begun to emerge as a proxy terrorist force for the Iraqis. A formal break with Arafat's Fatah organization took place in 1974, and shortly thereafter his gunmen failed in a bid to murder Arafat himself. In reply, the P.L.O. sentenced Abu Nidal to death...
...ruling, publicly announced to an overflow crowd of lawyers and lobbyists, stipulates that in certain cases junk bonds may represent no more than 50% of a takeover bid. To make an acquisition, shell companies--firms with no real assets--will be forced to pay half of the purchase price in cash. This could quash the efforts of crafty corporate raiders who have used nothing but junk bond debt to finance their billion-dollar takeover bids...
...issue was the rescue of Westland, Britain's only helicopter manufacturer, which lost almost $140 million last year. The company's board of directors favored a bailout bid by Sikorsky, a division of United Technologies Corp. of Hartford, Conn., in conjunction with Italy's Fiat. Heseltine, fearing an erosion of Britain's industrial competitiveness, had promoted a rival rescue plan through an all-European consortium that included British Aerospace (1985 sales: $3.6 billion). The Thatcher government professed to be neutral, but Heseltine and others charged the Prime Minister with favoring the U.S. bid...
...motion for a parliamentary inquiry into the government's handling of the Westland affair was subsequently defeated by a vote of 370 to 217. Later in the week, Westland's board failed to muster the 75% shareholder approval needed to accept the Sikorsky bid. The biggest loser in the whole affair was clearly Thatcher: a Gallup poll published last week gave her Conservative Party only a 29.5% approval rating, its poorest standing since...