Word: interesting
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Dates: during 1980-1989
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...hours of the decision, Time carried out its tender offer to pay $70 a share for 100 million of the more than 180 million Warner shares outstanding. Along with 17 million Warner shares that Time acquired in a stock swap in June, the tender gave Time a 58% controlling interest in its merger partner. As a result of the deal, Time changed its name to Time Warner; the company will buy the remaining Warner shares for a combination of cash and securities under terms that the parties must determine within three months. The purchase price will include a total...
...outcome of the tax debate will be of keen interest to the newest force in Japanese politics: women. As traditional keepers of the household ledgers, women felt the pinch of the consumption tax most acutely. In the recent election, that issue galvanized them not only to throw their votes to the Socialists but also to enter the political arena in record numbers. Female candidates increased their numbers in the upper house from 23 to 33; they now account for 13% of the chamber's seats. Half of those elected were Socialists like Doi. The J.S.P. leader, however, downplayed her role...
...computer executives greeted the plan with mild interest. While a spokesman for Apple noted that "we are pleased with the decision," he added that Soviet-bloc countries lack the marketing skills and hard currencies necessary to produce strong sales volume. Even so, hackers in Moscow were excited by the prospect of more American computers. "This is very important to us," said a Soviet computer importer. "Almost every day we have customers who come to our office ready to do business...
...Chairman Alan Greenspan, who went public with a surprisingly frank assessment last week that, at least for the moment, a recession has replaced inflation as the leading threat to the U.S. economy. In his midyear report to Congress, Greenspan confirmed that since early June, the Fed had been allowing interest rates to fall in an attempt to prevent the sluggishness from becoming too pronounced. Said he: "What we seek to avoid is an unnecessary and destructive recession...
...consumer prices last month increased at an annual rate of just 2%, the slowest pace in 16 months. While Greenspan said he sees inflation as a lingering menace, he confirmed that for the moment it has been eclipsed by a need to keep the economy afloat. As a result, interest rates on three-month Treasury bills have fallen from a high of 9.4% in late March to 7.9% last week. The clarity of the Fed's purpose has sent Wall Street on a bullish stampede to post-October 1987-crash highs. Last week the Dow Jones average climbed 53 points...