Word: divests
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Dates: during 1970-1979
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...most serious problem facing Lance, report TIME Correspondents Rudolph Rauch and Philip Taubman, is his commitment under the Administration's conflict-of-interest guidelines to divest himself of the 190,000 shares he holds in the National Bank of Georgia, of which he was president before going to OMB. He had borrowed heavily to buy 164,228 shares of that stock in June 1975. He had paid $17.74 per share, or $2.9 million, as part of a move with two partners-Pattillo, a construction company president, and John Stembler, a Georgia movie-theater chain owner-to gain majority control...
...Competition, which once determined how and to what degree resources would be used, is being eroded by community need. It was to this notion that ITT appealed in 1971 when it successfully prevented the Justice Department from forcing it to divest itself of Hartford Fire Insurance Co. "The company lawyers said, in effect, 'Don't visit that old idea of competition on us. The public interest requires ITT to be big and strong at home so it can withstand the blows of Allende in Chile, Castro in Cuba and the Japanese in general...
...proposal, sponsored by Edward M. Kennedy of Massachusetts and Ernest F. Hollings of South Carolina, got 39 votes. It would have forced oil companies to get out of such other energy businesses as uranium production and coal mining. Should it become law, Continental Oil, for example, would have to divest Consolidation Coal, the nation's second largest coal producer...
...Government has already filed two previous suits to trim IBM. Judge Edelstein supervised the 1956 settlement of the last such case and ruled that IBM should divest itself of or reform much of its electric accounting-machine division. But by then the business had changed so radically that IBM already was voluntarily moving out of such machines. The Government, says Washington Lawyer C. Jack Pearce, "had to sue the third time because the first two times didn't do it-whatever it was they were trying...
...prospect of sincere and kindly intercourse never dares rear its gentle graying cranium on stage during the next 90 minutes. What does appear is a shallow but lively confrontation between the bombastic Bulgarians and an unflappable Bluntschli, the production packaged appropriately in Scott Joplin ragtime and stage directions that divest the original of any subtlety of humor...