Word: dealing
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Dates: during 1980-1989
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...students crying after the meeting," Cice said. "Believe me, they are loving people whose raging anger the dean will have to deal with," he added...
...deal collapsed as if it had been hit by wind shear. Just five days after announcing his $464 million takeover of strikebound and bankrupt Eastern Air Lines, former Baseball Commissioner Peter Ueberroth abruptly delivered a very different message last week. Said he: "Our agreement with Texas Air is terminated, it's finished, it's over...
When is a deal not a deal? Buyout agreements are getting trickier because they now bristle with escape hatches. Last month Donald Trump balked on his $365 million pact to buy Eastern's shuttle when the airline sought bankruptcy protections. Brandishing a clause that allowed him to dicker on the price if shuttle business fell off before his deal closed, Trump pressured Eastern into including four more airliners for the same price. The concession was worth up to $26 million...
...Ueberroth's deal, his special conditions were met when the airline's pilots, machinists and flight attendants agreed to take $1.1 billion in wage and benefits cuts, spread over five years, in exchange for a 30% ownership stake in the new company. But the unions had a condition too. They demanded that Texas Air chief Frank Lorenzo step aside immediately so that a court- appointed trustee could supervise the reorganization process. Frank Carlucci, the former Secretary of Defense, had flown to New York City expecting to be appointed to the post...
...When the deal unraveled, lawyers for Eastern's creditors blamed Lorenzo and the unions for fumbling the question of who's in charge. But union lawyers said creditors had blocked the deal because they felt it did not spell out how Eastern would repay its debts...