Word: firmed
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Dates: during 1980-1989
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Sports betting is not even the largest or fastest-growing type of gambling. Christiansen/Cummings Associates in New York City, a leading consulting firm to the gaming industry, figures that all kinds of wagering (except friendly bets between individuals) have increased a thumping 57% in the past five years. Casinos took in more than half of all bets, or $164 billion; sports gambling was a distant second with a $28 billion take, up 57% from 1983. Though impressive, that increase was dwarfed by a 98% jump in the coins clinked into slot machines, a 103% rise in legal bookmaking...
...income: at least $180 million) and leveraged- buyout king Henry Kravis ($110 million) in third place. But who was this in the No. 2 position? A relatively unknown dealmaker named Gordon Cain, 77, took that spot by earning an estimated $120 million last year through his Houston LBO firm, Sterling Group...
Cain's rise began in 1987 when his company added to its string of petrochemical plants, buying at bargain prices. Sterling and its partners gambled $1 billion on these plants, which were assembled into a single firm known as Cain Chemical. Last year Sterling sold the package to Occidental Petroleum in a deal that was valued at $2.2 billion. Cain shared his bounty ! with some 1,350 employees, who took home a total of $537 million...
...reporter specializing in science and technology, she has contributed to covers on subjects, ranging from supercomputers to supernovas, that have proved as challenging as the sun. A "lopsided liberal-arts graduate" of Bryn Mawr College who joined TIME in 1965, Nash credits her fascination with such topics to a firm belief that "nothing is so difficult that it can't be understood with a little effort." Her marriage to a physicist helps, allowing her "to absorb a feel for how scientists think and operate, virtually by osmosis...
...share offer is certain to be welcomed by money managers and shareholders who had chafed at Time's rejection of the original Paramount bid. Said Paul Kagan, head of Paul Kagan Associates, a California-based firm that follows the media industry: "It will be very hard for management to tell stockholders that they can't have the $200. This is a large price for Time stockholders who have waited a long while for prices to approximate the real value of their stock." Time shares closed Friday at 165 7/8, up 10 1/2 for the day, in response to leaked reports...