Word: investors
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Dates: during 1980-1989
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...Airlines prepared to embark on a new flight plan last week, another major carrier flew into the combat zone. In Minnesota directors of NWA, the parent company of Northwest Airlines, broke a week-long silence by rejecting a $2.6 billion takeover bid from a group headed by Los Angeles investor Marvin Davis. In spurning the $90-a-share offer, NWA Chairman Steven Rothmeier, 42, said his firm fully intends to remain independent. But Davis, whose group owns 3% of NWA's shares, vowed to press ahead with plans to acquire the company and its prize asset, Northwest, the fourth largest...
Stepping up to the microphones during a Manhattan press conference last week, Peter Ueberroth looked every inch the Designated Hero. Frank Lorenzo, the embattled chairman of Texas Air, had just announced that an investor group headed by the boyish-looking former commissioner of major league baseball will buy strike-bound and bankrupt Eastern Air Lines for $464 million. Celebrating Ueberoth's move in a Miami union hall where they heard the news, boisterous Eastern machinists began singing Take Me Out to the Ball Game. The initial response of striking employees to their prospective new boss held promise that Ueberroth...
...types of telemarketing cons are being hatched overnight, sometimes abetted by front-page news that provides a convincing sales pitch. After the 1987 stock-market crash shook investor confidence in securities, con artists began pushing such alternatives as rare coins, gold, oil and gas leases, and diamonds. One Tulsa-based telemarketing company cleaned up by selling shares in a "secret process" for converting volcanic sand on Costa Rican beaches into gold. A swindler who had been convicted of selling shares in a nonexistent gold mine continued to solicit new investors from a pay phone in his Wyoming prison...
...America's biggest companies? Yet Time and Warner have long been considered takeover targets, and speculation arose that a raider might go after one of them soon, before a merger could create a nearly invulnerable behemoth. Everyone from Rupert Murdoch to Warren Buffet, the shrewd Omaha-based investor, was mentioned as a possible buyer. But no suitor had come forward by week's end. Time's shares gained 6 5/8 for the week, to close at 115 3/4, and Warner's rose...
...whites to do business with black executives can be a source of frustration. David Grigsby is a broker at Merrill Lynch in Manhattan. When he prospects for clients over the phone, he does not always mention that he's black. That led to a surprise for at least one investor, who showed up to meet his adviser in person. He was "visibly shaken," Grigsby recalls. Not long afterward, the client asked for another broker. "It didn't take an Einstein to figure out what that meant," says Grigsby. Then he shrugs. "You have to develop a thick skin...