Word: ending
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Dates: during 1980-1989
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Toward the end, B. Altman was losing more than $4 million a month. Retailing experts estimated that any potential savior would have to spend as much as $100 million to renovate the stores and rebuild basic inventories. Stock had become severely depleted during the past year, in part because manufacturers refused to extend credit to the store and withheld clothing shipments. The bankruptcy court put the chain up for sale but decided to liquidate when no acceptable bidders came forward...
...Allied department stores awash in red ink. "Many of the raiders' problems are self-inflicted," says Stuart Bruchey, a professor of economic history at the Columbia University Business School. "They jump into businesses that they don't understand, and expect to jump out with a quick profit. But they end up getting badly bogged down...
...Roaring Eighties reach an end, the verdict on raiding is becoming clear. Defenders of the practice insist that raiders have made U.S. industry more competitive by forcing bloated companies to slim down and shape up. Yet the towering debt loads piled up during the raider era -- by both the attackers and the managers seeking to repel them -- have made many companies less flexible and far more vulnerable to an economic slump. While the merger- / and-acquisition game will no doubt carry on in the 1990s, such deals are apt to be less grandiose and more carefully wrought than the quick...
Even before the referendum, the army began a campaign of self- rehabilitation. It announced that some reforms were being considered, including, at last, alternative service for conscientious objectors and an end to reserve service at 42. After the voting, General Heinz Hasler, who will take command of the military on Jan. 1, averred that the army had much to do: "Everything must be done to restore the people's conviction that military defense is needed" -- a clear acknowledgment that even the leadership of a citizens' army cannot long ignore great changes in the citizenry...
While many mutineers surrendered, others scattered throughout the metropolis, taking over three luxury hotels and holding positions against air and ground attacks near the Defense Department headquarters of Camp Aguinaldo. Declared Aquino: "We leave them two choices -- surrender or die." The rebels' reply: "We will fight to the end. Resign." Though the government insisted that the back of the mutiny had been broken, fierce and protracted fighting continued through the weekend. Camp Aguinaldo was set ablaze by rebel howitzers. The week's toll: at least 46 dead and 200 hurt...