Word: buyouts
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...hands of CEO Robert Allen, whose tortured leadership of Ma Bell ignited the search for a successor. His nine-year tenure has been marked by some seemingly desperate attempts to expand beyond telephones and phone service, including the failed $6 billion acquisition of computer maker NCR Corp., the pricey buyout of McCaw Cellular ($13 billion) and some high-profile product failures. NCR, which lost billions, was spun off in last year's "trivestiture." Another castaway, the manufacturing arm now called Lucent Technologies, has been on a tear since leaving Allen's hold...
...could so many politicians bend over backward to please an out-of-town money changer? asks the man who would be in direct competition with Wynn. Oh, the hypocrisy! But even Donald has been trumped. Seven of the 10 homeowners on Bryant Drive have said yes to Wynn's buyout offer, because either they liked the terms or they decided there was no way to slay a giant. It's Atlantic City, after all, where Monopoly is no game. Buy four houses and you can build a hotel. "It's a done deal," said carpenter Clarence Mobley...
...easy to cultivate foreboding: democracy seemed washed up; both inflation and unemployment were out of control; warheads were pointed our way; the '60s had left a residue of chaos without idealism (you know--Altamont). The '80s brought fresh stuff to find deeply troubling: recession, Star Wars weapons, Reaganomics, leveraged-buyout layoffs, greed, soaring deficits, Michael Dukakis as a potential President. Now? Well, let's see: there's the failure of the budget deal to adequately address middle-class entitlements. A nontrivial problem, but not a crisis like the wars and riots and racism and economic calamities that Americans have faced...
Bollenbach, 54, is one of the sharpest pencils in corporate America, a veteran hotelier who joined Hilton last year after a stint at Walt Disney Co., where he helped engineer the Mouse's $19 billion buyout of Capital Cities/ABC. Araskog, 65, has lots of starch in his sheets. A West Pointer who once served in the National Security Agency, he has a perfect record in fending off corporate raiders...
...what would be the largest foreign buyout of a U.S. company if regulators approve it (an uncertain prospect, given likely resistance from rivals like AT&T), BT agreed Nov. 3 to pay about $21 billion for the 80% of MCI it does not already own. The merged company, to be called Concert, taking the name of a joint venture between the two, would have $42 billion in revenues and match AT&T in market value. The new colossus, boasts MCI chairman Bert Roberts, "will trump the competition as we open up communications markets both domestically and around the world...