Word: control
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Dates: during 1980-1989
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...AMERICAN RELUCTANCE. The Administration still seems perplexed over arms control, fearful of both a domestic right-wing assault on its policies and of sliding down the slippery slope of psychological disarmament. Defense Secretary Dick Cheney, for one, is determined to stonewall arms treaties until congressional funding of his defense budget is ensured. And although Bush allowed last week that a strategic-arms treaty could be achieved by next year's summit, key White House aides seem inclined to dismiss START as a bothersome holdover from the Reagan Administration...
...other foreign investors are in trouble largely because they overreached. Burdened with debt, Canadian mogul Robert Campeau was forced last month to relinquish control of his retailing empire and put the 17-store Bloomingdale's chain up for sale. In August Australian raider George Herscu put his U.S. retailing subsidiary into bankruptcy after becoming overwhelmed by its $1.2 billion takeover debt. Herscu may well have to sell Bonwit Teller (stores: 16) and B. Altman (7), which he acquired...
...Last year foreign investors acquired nearly 400 U.S. businesses, worth a total of $60 billion. That was 61% more than the previous year and represented a drastic quickening of the pace five years earlier, when overseas buyers took over 111 companies, valued at just $2.2 billion. Foreign owners now control more than 12% of all U.S. manufacturing assets and employ 3 million American workers...
...which he refused to distribute to his 1,400 U.S. offices because it was "poor in quality, provincial and British in nature with little articles about the soccer team in South Wales." Friction grew to the point that Blue Arrow tried to fire Fromstein, but in a battle for control he wound up in charge of the combined company. Local animosity toward Blue Arrow was so pervasive that Milwaukee's major league baseball team, the Brewers, flashed the news of Fromstein's victory on the scoreboard during a home game...
...Sony is only one of the foreign investors rushing to claim a stake in Hollywood. In the past year, Britain's Television South bought MTM Enterprises, Australia's Qintex Group reached an agreement to take over MGM/ UA, and Italian financier Giancarlo Parretti acquired control of Hollywood's struggling Cannon Group, an action-picture mill...