Word: foundered
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Dates: during 1980-1989
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...million in the first half of the year, People was believed to have less than $50 million in cash on hand, and is still losing about $4 million a week. Even so, the decision to sell off some of the company's assets was not made voluntarily by People Founder and Chairman Donald Burr. The move was forced on Burr by the remaining board members. The insurgents were led by Venture Capitalist William Hambrecht of San Francisco, whose firm raised $23.5 million in the early development of People, and by Charles Phillips, a managing director of Morgan Stanley, People...
Born in New York City, Lerner was the son of the founder of Lerner Stores, a women's apparel chain. At Choate and Harvard, he was a schoolmate of John F. Kennedy's and later became a sort of goodwill ambassador between the Kennedy White House and the arts. Jacqueline Kennedy, after her husband's assassination, likened his brief tenure to the fleeting glory evoked in Camelot...
Many computer users still resist the idea of paying for help. Says Hand- Holding Founder Emil Flock: "People expect to get billed when they talk to their doctors and lawyers. But when they talk to a technical-support person, they expect it to be free." There are signs, however, that this attitude may be changing. Robert Refvem, for one, happily plunked down $65 for six months of MicroPro's premium service. "I call them up, I get a technician, I'm off and running," says the Burlingame, Calif., real estate agent. Besides, he adds, "it's the only way they...
...court's decision stemmed from a libel suit against the Investigator, a magazine published by muckraking Columnist Jack Anderson. In three articles published in 1981, the Investigator charged that the ultraconservative Liberty Lobby and its founder, Willis Carto, were neo-Nazi, anti-Semitic and racist. Carto and his organization sued Anderson and the magazine, claiming that they had used patently unreliable sources...
...original Fuzzbuster have since roared onto the market. Some of the best-selling detectors are made by Cincinnati Microwave, whose latest PASSPORT edition is small enough to fit in a shirt pocket and sells for $295. Thanks to his attentive little black boxes, Cincinnati Microwave Chairman and Co-Founder James Jaeger, 38, is a multimillionaire who owns a fleet of Ferraris and says that, of course, he never gets speeding tickets...