Word: drexel
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Dates: during 1980-1989
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Susan Berner, a business major from Strongsville, Ohio, knew when she entered Philadelphia's Drexel University that computers would play an important role in her college education. Like other entering freshmen, she had been informed that in addition to the first-year fees of about $9,000 for tuition, room and board, she would have to shell out $1,020 for an Apple Macintosh computer and a bundle of software. Indeed, when she arrived on the urban campus last month, dormitories, classrooms, offices and labs were already teeming with some 6,000 Macs...
Still, the pervasiveness of the computer revolution at Drexel was beyond even Berner's expectations: coin-operated modems in the library for telephone communications between computers; printer stations in the dorms; computer- designed flyers tacked to every bulletin board. And nobody had told her that two days after she picked up her Mac (one of 1,809 distributed to the freshman class), she would be tapping out her first English composition for a professor who refuses to read any paper that is not written on a word processor...
...Drexel Burnham Lambert...
...April, Turner offered CBS shareholders a no-cash package of low-grade bonds, which he valued at $175 a share. Wall Streeters, however, estimated the Turner proposal was worth only about $130 a share. "The present Turner bid has been pre-empted," concluded Drexel Burnham Analyst John Reidy...
...sales: $3.7 billion), Houston-based Texas Air offered about $925 million for the company, which includes $23 in cash and securities for each TWA common share. The investment firm Drexel Burnham Lambert will help Texas Air raise the money by underwriting "junk bonds," a popular takeover tool. Icahn, who stands to make a profit of about $50 million when he sells his TWA shares to Texas Air, will probably go along with the deal...