Word: chairman
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Dates: during 1980-1989
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...South Carolina seems to be catching its second wind. In June the legislature adopted "Target 2000," the second installment of the Education Improvement Act of 1984. The bill not only continues support for most of the act's original programs, it actually expands many of them. Says David Beasley, chairman of the house education and public works committee: "We've kept the heat on and the excitement rolling...
While no more than 5% of LBOs have so far been failures, an economic downturn could sharply raise the number of casualties. Warned Manuel Johnson, vice chairman of the Federal Reserve Board, in a June speech: "If there were a significant negative shock to the economy, high debt levels could lead to a succession of bankruptcies, causing a crisis of confidence." Johnson estimated that roughly 40% of all leveraged deals are in cyclical industries that are "more likely to run into trouble in the event of a severe slump...
REVCO D.S. Back in 1986 it was the largest U.S. drugstore chain. Revco plunged into an LBO that year after Herbert Haft, chairman of the Dart Group of retailing companies, made a bid for the Twinsburg, Ohio-based firm. With advice from Salomon Brothers, Revco chairman Sidney Dworkin led a $1.3 billion LBO financed largely by junk bonds that paid more than 13% interest. The company then expanded its line of merchandise to include video players and ^ electronic appliances in the hope of boosting business. Bewildered customers began shopping elsewhere, and Revco fell short of its sales and earnings targets...
...being confirmed. But if the Administration goes that route, it is sure to anger the Senate, endangering the President's future appointments and proposals. When the Senate returns after Labor Day, the President and his Attorney General face another firefight over the nomination of Clarence Thomas, the ultraconservative black chairman of the Equal Employment Opportunity Commission, to the federal appeals court in Washington. That battle might give Thurmond another opportunity to cast himself as a sanctimonious champion of civil rights...
...deals with shouts and hand signals be replaced with automated computerized trading, as has been done in Tokyo and London. "It is time to jettison this Rube Goldberg . . . system and replace it with a sophisticated electronic system that records trades as they happen," said Massachusetts Democrat Edward J. Markey, chairman of the House subcommittee on telecommunications and finance...