Word: forester
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After ten grueling days in the national spotlight, Geraldine Ferraro and John Zaccaro took a midweek break at their comfortable home in Forest Hills, N. Y. They were surrounded by their extended political family: accountants, campaign aides, Secret Service agents. In a wide-ranging interview with TIME New York Bureau Chief John Stacks and Washington Correspondent David Beckwith, the candidate and her husband spoke candidly, and heatedly, about what has happened to them. The correspondents' report...
...bleachers rose up on either side of the pool on a forest of slender poles. Two young attendants were on station to keep people from passing under. "You haven't seen a scuba diver come through here?" I asked. It was a few days before the diving competition. The attendants looked bewildered. "Could you let me know if you see one?" I asked...
Last June, Publisher Rupert Murdoch (New York Post, the Times of London) startled executives of St. Regis by revealing that he had bought 5.6% of the shares of the big paper and forest-products company for $65 million. A few weeks later Murdoch launched a takeover fight. That sent the St. Regis officers scrambling to find a so-called White Knight who would save them from the publisher by buying their firm. Last week Champion International, a rival forest-products giant, came forward to do precisely that. Champion agreed to pay about $1.8 billion in cash and stock...
Walt Disney Productions and St. Regis Corp., the forest-products firm, have both been victims of greenmail. In a greenmail ploy, an investor buys enough stock in a company to pose a takeover threat in hopes that the firm's officers will buy him out at a premium. Disney paid $297.4 million in June for shares held by Financier Saul Steinberg, who made a quick $32 million profit. St. Regis has been greenmailed twice, first by Sir James Goldsmith, the British industrialist, and then by Loews Corp., the hotel and movie-theater company...
...family endured with good humor and pride. They did not feel neglected. Though her district is mostly blue-collar, Ferraro lives in an upper-middle-class enclave in Forest Hills. Her husband's successful real estate business helps pay for a winter retreat in St. Croix and a summer house on Fire Island. For the children (Laura, 18, about to enter Brown; John Jr., 20, a student at Middlebury College, and Donna, 22, a Financial Analyst on Wall Street) there were expensive educations. A full-time housekeeper does the cooking and cleaning. When a photographer asked Ferraro to pose...