Word: colt
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...Lipton, a graduate of New York University, represented a group of dissident shareholders in the United Industrial Corp. proxy fight. It was a draw. As Lipton recalls, "Joe got four seats on the board and we got four seats." Their first big tender fight was the $84 million Colt (Flom) takeover of Garlock (Lipton) where the term "Saturday Night Special" was coined to describe Colt's lightning raid. It is impossible to estimate which lawyer has a better winning record because even when one loses he usually gains some advantages-in price or terms-for his client...
This color coding has not worked, since it is easy for a bandit with artistic bent to repaint his model gun to give it a menacing steel blue glower. Typical was the incident last July when a real robber brandishing a fake black Colt .38 held up a real Kyoto bank van carrying checks worth 50 million in real yen. That was the equivalent of 263,158 real dollars, which are fake nowadays in Japan anyway...
They did it. The kid and the colt, Steve Cauthen and Affirmed, became the eleventh winners of the Triple Crown of American Thoroughbred racing last Saturday by taking one of the most thrilling races in the history of the sport. They measured up to the demanding 1½-mile Belmont Stakes-"test of the champions" -and moved into the most select circle of racing royalty. Affirmed's honor was made grander still by the rousing challenge of his gallant rival, Alydar, who shadowed Harbor View Farm's chestnut in lockstep around the graceful, sweeping turns and down...
...second turn, with slightly less than a mile to run, Jockey Jorge Velasquez moved Alydar up on the outside and parked his big, handsome colt on Affirmed's right shoulder. Down the long backstretch the two colts ran stride for stride, coats glistening in the big move to the finish. The field was already left far behind. Affirmed and Alydar flew out of the final turn and into the home stretch, driving for the wire, joined in desperate struggle. With 3/16 of a mile to go, Alydar pushed in front by a nose, but Affirmed, running now on heart...
...odds on a colt's matching the demands of the Triple Crown are long enough to fire larceny in a bettor's soul and break a breeder's heart. Almost 30,000 Thoroughbreds are foaled annually on North American farms, but only about 3% ever win a stakes race, much less one of the Triple Crown races. Breeding Thoroughbreds is far from an exact science. Says Brownell Combs II, the manager of Spendthrift Farms, regularly one of the tops in the sport: "You breed the best mare you can possibly get to the best stallion...