Word: edicts
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...millions of blacks, other minorities and women. Despite a flurry of protest demonstrations by militants, most observers praised the court for a cautious but astute effort at reconciling conflicting forces?but they also foresaw many future conflicts in the actual carrying out of the court's new edict...
That siren song should win some ready listeners. When the big copper producer was forced to divest itself of Peabody Coal by Government edict last June, savvy Wall Street analysts speculated that some or all of the $1.2 billion Kennecott received would be paid in the form of a special dividend. Instead, Chairman Milliken, apparently fearing an unfriendly takeover attempt, paid $66 a share for Carborundum. The rationale: the bigger the company, the more difficult it is to finance a raid. By paying more than twice the book value for a ho-hum company, Milliken let himself in for savage...
This time five clergymen, backed by the New Hampshire American Civil Liberties Union, decided it was time to call a halt. They sued Thomson on the grounds that his edict was unconstitutional, and U.S. District Judge Walter Jay Skinner agreed. Thomson could lower the flags, Skinner ruled, only if he proclaimed a secular reason for doing so. Next day, however, the U.S. Court of Appeals for the First Circuit threw out Skinner's injunction. "A great victory," said Thomson, as he ordered all official flags-there are about 100 in the state-to half-staff. Thomson said he would...
That very day Paley ordered staged reverses stopped. But his stern edict has since been relaxed, so that if a Mike Wallace interview now takes place with only one instead of two cameras, Wallace can be photographed afterward asking the same questions again or reacting angrily, moodily or laughingly-so long as these reverses are "made in the presence of the interviewee" or with his consent...
...capital. (His salary at ABC is reportedly about the same now, but will rise to $350,000 next year. In addition, he has stock options and all the perks previously denied ) Worse, he was denied entrance to "the club," an elite group that really runs CBS. Following an unwritten edict from Chairman William Paley, CBS has always been fiercely proud of its image. How an executive looks is often as important as what he does. He must dress right, talk right and live at the right address. He must, in sum, always look as if he had just stepped...