Word: foundered
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Dates: during 1980-1989
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...Manhattan headquarters of powerful CBS. The billionaire chairman of Loews had suddenly emerged, to resounding cheers, as the No. 2 network's acting chief executive officer, after a dramatic boardroom confrontation with Ousted Chairman Thomas Wyman, 57. Many CBS employees hoped that the changeover, which also brought back Network Founder William Paley, 85, as acting chairman, would mark the onset of a new golden age for the tradition-minded broadcasting giant and the end of months of upheaval and austerity. CBS, exulted 60 Minutes Correspondent Morley Safer, was on its way "back to the future...
Polish officials complain that their economic woes have been made worse by Western trade restrictions imposed after martial law was declared. Last October Solidarity Founder Lech Walesa and nine other prominent Polish opposition figures and moderate intellectuals issued an appeal to the U.S., urging President Reagan to "play a significant role" in putting the Polish economy back on track by lifting the remaining U.S. sanctions. Washington may be receptive to the plea. "Things are warming up step by step," says an Administration official. "But we have always urged caution. The Poles have often announced sweeping changes and then have failed...
...offered residentially, doesn't itcome back under rent control?" asked Michael H.Turk, a founder of the Cambridge Union of Tenants...
...Sotheby's on Nov. 10, when Jasper John's Out the Window sold for $3.6 million, the highest sum ever paid for the work of a living artist. Last week the old master drawings owned by John Ryan Gaines, a Kentucky horse breeder and the son of the founder of the Gaines dog-food company, fetched $21 million. The top seller: Leonardo da Vinci's Child with a Lamb, a group of sketches in brown ink, which was bought by the J. Paul Getty Museum in Malibu, Calif., for $3.6 million...
...mainly a rhythm and blues, pop band, but we can definitely rock and party when we have to," said David Alves, lead singer of the band and a Union employee from 1980-86. Other members include co-founder Ken Sparrow and Frank Rousseau, both of whom have worked for Food Services...