Word: gray
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Dates: during 1970-1979
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...emotional overstatement, certainly-but Gravitt's suicide touched off a scandal that three years later is badly damaging Ma Bell's image as the staid gray lady of American corporations. In a San Antonio courtroom last week, past and present Southwestern Bell executives accused each other of everything from bribing Texas newspapers and politicians to playing host to parties for local politicians and visiting executives from other Bell system companies. They were testifying in a $29 million libel and slander suit brought against Southwestern Bell by Gravitt's widow, Oleta Gravitt Dixon,* and James Ashley...
...shares as feverishly as well-heeled Texas art fanciers at a Sotheby's auction. The bidding started at $42 per share offered by United in March, and spiraled up until last week United was offering $58.50 and McDermott $62.50. At that point, United Chairman Harry Gray, a shrewd takeover dealer, decided "it wasn't in the interest of our shareholders to pay any higher fare for the bus ride." His pullout left the little-known McDermott (it makes offshore drilling rigs) the winner of the takeover battle of the year...
...shares. To persuade them to sell to McDermott rather than United, B & W arranged a tasty lagniappe: a special dividend of $2.50 per share on top of the regular 37½? dividend, which will be passed back to present B&W stockholders by McDermott in October. (Harry Gray refused to do that.) That brought McDermott's effective offer to $65 per share...
...fresh season of volcanic activity has begun. On Japan's northern island of Hokkaido last week, thousands of acres around Mount Usu lay under a cover of gray ash, and Usu continued to steam and rumble ominously. Italy's Mount Etna has erupted for the third time in a month, sending a stream of lava three kilometers (two miles) down the mountainside and shooting a pillar of flame and smoke 450 meters (1,500 ft.) into the air. Both provided evidence that, regardless of progress in other areas, man is still powerless to control the fires beneath...
...tremendous pressures and triggering repeated earth tremors that rocked Hokkaido. Finally, on Aug. 7, the 725-meter (2,400-ft.) Usu awakened with a roar like that of a bomb. A huge black cloud soared to a height of 12,000 meters (39,000 ft.). A dense shower of gray ash and chunks of porous, rock-like pumice poured out of the cloud...