Word: brickering
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...normalize trade with China, a position that put Cheney at odds with many conservative Christians and a sizable minority of Republicans who regard Beijing as a national-security threat. The powerful American Israel Public Affairs Committee disagrees with his views on U.S. investment in Iran. Says A.I.P.A.C. spokesman Ken Bricker: "Now is absolutely not the time to lift sanctions and appear to condone Tehran's totally unacceptable behavior." Many Cuban Americans oppose his idea for easing trade with Havana by setting up an enterprise zone on the U.S. naval base at Guantanamo--a position that goes well beyond anything Bush...
...beautiful Dove retrospective now at the Phillips Collection in Washington--which will move on to New York City's Whitney Museum of American Art in January--one sees all this and more. It has been a long time since the last museum survey of Dove's work, and Debra Bricker Balken, who curated this one, has done an exceptional artist full justice. And of course the Phillips Collection is the right place to start it, since Duncan Phillips was the only steady collector Dove had in his whole career and the relationship between...
...meeting in Los Angeles two weeks ago, Occidental Chairman Armand Hammer, 86, and Diamond Shamrock Chairman William Bricker, 52, were discussing Bricker's plans to take over a third oil firm when they began exploring a merger of their companies. As a team of more than 100 investment bankers and advisers labored through the weekend to work out the details, an arrangement took shape in which stockholders in the two firms would trade their shares one for one for stock in a new holding company. Under the terms, according to sources at Occidental, Diamond Shamrock would have become a wholly...
...with its capital needs in such ventures as a new oilfield in Colombia. The cash could also have been used to reduce Occidental's $3.5 billion debt, much of which resulted from its 1982 acquisition of Cities Service. Wall Street, however, did not buy the idea, and neither did Bricker's board. As soon as merger rumors began to circulate, Occidental stock began to slip in heavy trading, falling from 26 3/4 to 23 1/8 in two days, and eroding the benefits of a merger for Diamond Shamrock's shareholders. Then, when Bricker's directors examined the terms...
...days following the cancellation of the merger, Occidental shares regained most of their losses. But there can be no doubt that Bricker's stock has fallen. Said one executive who took part in the negotiations: "The way things turned out makes Diamond management look a little erratic." Furthermore, by considering such an arrangement, Bricker posted notice that Diamond Shamrock is for sale. Bricker insisted last week that his company is still "an aggressive pursuer" seeking to acquire another oil company. But in the volatile oil game, he is a hunter who could just end up being bagged...