Word: foundedness
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Dates: during 1980-1989
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For the past two months, rumors have been flying that Southland Corp. was ripe for takeover. A roster of raiders were said to be eyeing the company that operates the ubiquitous 7-Eleven chain of 7,700 convenience stores and owns 50% of Citgo Petroleum. Last week the family that...
Although his explanations were riddled with troubling contradictions, it looked as if Minkow was going to come out of the controversy relatively unscathed. Then, two weeks ago, he abruptly resigned from the company he had founded, citing unspecified health problems. Four days later, ZZZZ Best's new management filed a...
A symbolically significant retrenchment took place last month, when Westinghouse Electric sold off part of its money-losing Unimation robotics division. The buyer: Prab Robots, a small Michigan-based manufacturer of industrial robots and conveyor machines. Westinghouse's 1983 purchase of Unimation for $107 million marked Big Business's arrival...
As Oliver North rushed about hatching schemes to free American hostages and $ topple Marxist regimes, the hyperkinetic lieutenant colonel increasingly came to depend on the help of a network of private companies founded and staffed by former military and intelligence agency officers. "As his power started to grow," says Neil...
But Shackley denies any wrongdoing in the Iran-contra affair. "I have had nothing to do with what Secord has chosen to call 'the enterprise,' " Shackley told TIME last week. "I have had nothing to do with North." Nonetheless, North's projects freely used private operators. Secord, for example, retained...