Word: firm
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Dates: during 1980-1989
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Icahn will extract a rich payoff. Texaco agreed to pay a special shareholder dividend of $2 billion, nearly $340 million of which will go to the raider. The money will come from the oil firm's $7 billion in proceeds from assets it has sold off since last June, partly at Icahn's urging...
...point I was a little worried about having my main character, Sherman McCoy, losing $6 million for his firm in about 15 minutes. I thought, "Well, this is fiction. I'll go ahead and do it." My typewriter had hardly stopped moving before I picked up the New York Times, and there on Page One was an account of a young investment banker, about the same age as my character, 38, who lost $250 million for his firm in a week. I felt like Alice in Wonderland, running as hard as I can to stay in the same place...
Contrary to the unbuttoned, indulgent style at many agencies, CAA operates with the crisp, well-coordinated teamwork of a Japanese high-tech firm. What adds to the agency's mystique is that Ovitz is extremely press shy. In the first extended interview he has ever given, he described his agency's unusual philosophy to TIME correspondent Elaine Dutka: "Some companies believe that internal competition helps the bottom line, but I'm not of that school. We try to take the paternal approach of the Japanese, who take care of their own, and temper that with Western creativity and ingenuity...
Many of them, in fact, make considerable sacrifices to move into the classroom. When Tom Carlyle decided to become a teacher, he quit his job as a manager in a Manhattan publishing firm and invested $10,000 in a one-year program for career changers at Harvard's School of Education. Since 1986, he has been teaching high school math in the New York City public schools. His $30,000 salary is $5,000 less than he made in the private sector -- but $9,000 more than he would have made teaching math five years ago. Carlyle...
...questioning, however, may eventually damage Tower even more. Between 1986 and late 1988, he was paid $750,000 in consulting fees by several major defense contractors. He had earlier served as chief American negotiator in START talks aimed at limiting strategic nuclear missiles. He told the committee that his firm provided both Martin Marietta and LTV with information on the impact a separate INF treaty banning medium-range missiles might have on their businesses. Michigan Democrat Carl Levin suggested those contacts might create the appearance that Tower had leaked to the contractors secret information about the U.S. arms negotiating position...