Word: contender
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...debt can make firms less competitive. Since RJR Nabisco's leveraged buyout in late 1988, in which the corporation assumed some $25 billion in debt, the company has lost market share to rival Philip Morris because RJR's management is so absorbed with managing the huge LBO, many analysts contend. In addition, loan payments, which average 30% of corporate cash flow, often divert money away from more productive pursuits, including research, advertising and capital spending. While Phillips Petroleum was digging out from under its $9 billion debt, the corporation had to pass up several opportunities to acquire crude-oil reserves...
City officials contend that the increase was necessary because the present fee, between $2800 to $4800 a year depending on the type of liquor sold, has not kept pace with rising administrative costs...
...even the top sailors in the region could contend with this weekend's powerful winds, as both the coed and women's Atlantic Coast Championships were cancelled last weekend after a host of early boats capsized...
...dispute turned into an old-fashioned brawl. Strikers have hurled rocks and bottles at News delivery trucks and warned dealers against selling the paper. Distribution may be management's weakest point. While the News has been printing more than 1 million papers a day, strikers contend that only a few hundred thousand have been reaching newsstands. The paper even resorted to handing out 200,000 free copies a day on the street...
...officials deny that the SATs propagate inequity and reflect bias. The fact that upper-income whites score higher than lower-income minorities, they contend, reflects society's imbalances, not the exams'. ETS notes that 400 people of varying backgrounds check every SAT question during 10 review stages and eliminate any that are found to be biased. "To say these tests are biased because results vary," says Gary Saretzky, chief of ETS's sensitivity-review process, "is like blaming the thermometer for the fever...