Word: firm
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Dates: during 1980-1989
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...margin amounted to a firm endorsement of the issue that totally dominated the campaign: the Canada-U.S. Free Trade Agreement. Signed by Mulroney and Ronald Reagan last January and passed by the U.S. Congress, the accord will bind the world's largest bilateral trading relationship -- last year's value was about $132.5 billion -- into a single duty-free market within ten years. Two days after the triumph, the Prime Minister's office announced that Parliament would meet Dec. 12 to approve the pact...
This time, says Michael McCracken, president of Informetrica, an Ottawa- based economic-research firm, "the Canadian voter took a leap of faith, opting for trade liberalization and to move against an inward-looking, anti- American approach to the economy." In effect Mulroney's victory amounted to an affirmation that Canada's identity and sovereignty are sturdy enough to survive a closer economic embrace with its best friend and neighbor...
...sort of excess that investment bankers have worried about for years," said economist Robert Reich of Harvard's John F. Kennedy School of Government, "because it so clearly exposes the greed and rapaciousness of so many of these takeovers." Martin Weinstein, managing director of Kubera, a Wall Street arbitrage firm, concurred: "Do I sense fear? Yes. At some point there is going to be a rebellion against greed...
...Waverly Hotel. Appalled by the gall shown by Johnson, whom one director called a "raider from the inside," a committee of five directors three weeks ago opened the bidding to all comers. First to accept the invitation were the most aggressive LBO artists of all, the Wall Street firm of Kohlberg Kravis Roberts. Headed by Henry Kravis, 44, and George Roberts, 45, KKR pioneered the leveraged buyout in the 1970s and nurtured it into one of the best-paying financial arrangements of the decade...
...directors' invitation attracted a third and scrappy new bidder who helped turn the fight into a virtual Who's Who of finance and industry. Assembled by the First Boston investment firm, the group of newcomers included Jay Pritzker, the Chicago-based chairman of Hyatt Corp., his wealthy family and Philip Anschutz, a Denver oil billionaire. First Boston also wooed Harry Gray, the retired chairman of United Technologies, and several other high- rolling investors. The group came into the bidding with a show-stopping but tentative offer of cash and securities worth up to $26.8 billion, or $118 a share...