Word: herald
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Besides raising money for Dukakis, the Sunday edition of The Boston Herald reported, developer John Keith has raised tens of thousands of dollars from partners and business associates in the past year for at least three state legislators, a mayor and two members of the Massachusetts Housing Finance Agency (MHFA...
During his yellow-journalism heyday in the 1930s, Hearst dictated rat-a-tat headlines and punished political enemies in 18 big-city papers, including the New York Journal-American, the Chicago Herald-American and the Pittsburgh Sun- Telegraph. Today the company publishes 15 dailies, most of them in smaller cities such as Midland, Texas, and Bad Axe, Mich. After years of mounting losses, the firm sold the Boston Herald American to Rupert Murdoch in 1982 and shut down the Baltimore News-American four years later. As if to prove that it was not deserting big cities entirely, Hearst bought...
...Angeles Herald Examiner (circ. 240,000) has been hemorrhaging money for a decade and currently loses an estimated $10 million to $14 million a year. Once in a tight race with the Los Angeles Times, the paper suffered a nine-year strike that began in 1967 and cost it 400,000 readers. Now the Herald Examiner's 170 editorial employees seem destined to play David to the Goliath Times (circ. 1.1 million), with its 850 staffers and annual profits of $200 million. Though the Herald has much to commend it, including playing up local stories and sometimes producing sprightlier writing...
...holding company, Bell Group (1986 revenues: $1.5 billion). From that base, he has launched sallies against Broken Hill Proprietary, a huge Australian steel, oil and gas producer, and other big firms. A few months ago he engaged in a bidding war with Media Mogul Rupert Murdoch over the Herald and Weekly Times, Australia's largest media group. Last August Holmes a Court disclosed that he was seeking a 15% stake in USX, the steel giant. As takeover speculation pushed the price of the stock upward, he reportedly took a profit on a block of his shares...
Though they remain in the minority, a growing number of economists believe the proliferating danger signals may herald a downturn. Says Pierre Rinfret, an economic adviser to President Nixon: "Continued decline of the dollar, coupled with fears of higher interest rates and inflation, will produce a recession before the end of the year." Henry Kaufman, Salomon Brothers' chief economist, suggests that there could be a recession...