Word: firmness
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Dates: during 1980-1989
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...scene in the early 1980s, Asher Edelman seemed to have a magic touch. Bright, brash and hyperconfident, he reaped more than $40 million in instant profits for himself and his investors by raiding and liquidating two dreary companies: Management Assistance, a computer maker, and Canal-Randolph, a real estate firm. Suddenly superrich, the Bard College graduate, reared on Long Island, N.Y., bought fashionable residences from Sun Valley to Switzerland, a 100-ft. yacht, a personal jet and a modern-art collection today rumored to be worth $100 million...
...Datapoint, a San / Antonio-based minicomputer maker. Since Edelman took it over in 1985, the company has gone through three presidents and $135 million in losses. Yet he has reaped millions of dollars in personal fees by aggressively playing the stock market with Datapoint's cash. Another Edelman-controlled firm, Intelogic Trace, a computer-servicing business that was spun off from Datapoint in 1985, has seen its annual profits plummet from $20 million in that year to $179,000 in fiscal...
...failed bid is the talk of Wall Street once again, this time because of a Wall Street Journal report that bankers and lawyers will earn $58.7 million in fees for the deal, despite its downfall. More than $8 million will go to the investment firm Lazard Freres, which advised United's pilots union in the labor-management bid to buy the carrier for $6.8 billion...
Hepatitis C afflicts an estimated 150,000 Americans each year. The virus, like type B, is spread primarily by sexual activity and through tainted blood in transfusions or on addicts' dirty needles. (Hepatitis A is passed along mainly through contaminated foods.) Researchers at Chiron Corp., a biotechnology firm in Emeryville, Calif., that first identified the C virus, have devised a test for the pathogen that can be used to screen the blood supply...
...future, there could be no more appropriate setting than at sea, even a sea as wild as the one last weekend around Malta. In a world that seemed to be dissolving, where better to meet than in a place with no boundary lines, no familiar landmarks -- and no firm footing...