Word: deale
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Dates: during 1980-1989
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...first or fifth time, that his hero is even more gifted as writer than as entertainer. In a superb story called What Did We Do Wrong?, the first woman major-league baseball player hits .300 but slobbers tobacco juice, gives fans the finger and can't deal with the hot-breathed lunacy of a nation's love. In Meeting Famous People, a country-music star is hunted down and sued, then jailed and beaten after he $ refuses a fan's request for a handshake. In the title sketch, an ordinary couple become celebrities, in a way that seems chilling...
...controlling share in WPP in 1985, then used the company as an acquisition vehicle; they have bought 39 marketing and advertising firms so far. His most stunning triumph was the 1987 purchase of the JWT Group, an American conglomerate seven times the size of WPP. The $566 million deal was the first hostile takeover in the U.S. ad industry. Under WPP's control, JWT's pretax profit margin has increased from a weak 5% of sales to a respectable...
Sorrell's takeover of Lord, Geller, Federico, Einstein, which was part of the JWT purchase, has proved more troublesome. Nine months after the deal, co- founder Dick Lord and five top executives walked out and formed a rival firm that they staffed with their former colleagues. Today both sides are mired in a court battle over the takeover and defection. Says Lord: "Martin is a man of property. He believes that the ends justify the means...
Many investors are worried that the acquisition of Ogilvy would depress WPP's earnings, since the debt assumed to complete the deal could become a burden on the company. Sorrell argues that the two agencies would complement each other. While WPP's Thompson group is strong in Japan, Ogilvy has a firm hold on the European market...
...mujahedin would almost certainly refuse a power-sharing deal anyway. The official rebel position is that Najibullah can have an amnesty but his surrender of power is a precondition to peace talks. In their view, he is the enemy, and Afghans have little inclination to forgive foes. "How can you expect the people to forget the blood loss of families, the destruction of entire villages?" asks a guerrilla leader in Peshawar. "How can you expect them to give up that feeling and say, 'Fine, let's sit down and talk'? It is like asking the Jews to pardon the Nazis...