Word: irwin
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...particular, is under attack by Irwin Jacobs, a Minneapolis investor whose threats to take over companies and then dismantle them have earned him the nickname "Irv the Liquidator." Jacobs has bought an estimated 2% of ITT's stock and wants to break up the company. The stock now sells for only about $32 per share, and analysts estimate that stockholders could get up to $60 per share if all the parts of ITT were sold separately. Says Jacobs: "ITT's management has created such a monster of overhead in its operations that something's got to happen...
...such places as Canada, Europe and Argentina. By 1983 U.S. agricultural sales abroad had tumbled, and land values, which serve as collateral for loans, were dropping fast. The price of Midwestern acreage fell 15% last year and is expected to decline an additional 8% this year. Notes George Irwin, chief economist for the Farm Credit Administration: "The security supporting farmers' loans is disappearing at the same time as the income to repay those loans...
Araskog hopes to strengthen ITT by raising more cash. Last week the company agreed to sell parts of its Eason Oil subsidiary for $240 million. But Araskog's time is running short. Two weeks ago, Minneapolis Investor Irwin Jacobs snapped up more than 3 million of ITT's 139 million outstanding shares. No one knows whether Jacobs has a power grab in mind, but his usual prescription for laggard companies like ITT is clearly spelled out in his nickname: "Irv the Liquidator...
...joke was not on him. When he first heard the news, Comedian-Mime Bill Irwin, 34, thought they were trying to kid a kidder. But in truth he had become the first active performing artist to receive a MacArthur Foundation fellowship. The so-called genius award means that Irwin, who charmed audiences with his 1982 The Regard of Flight clown show, will get $180,000 over the next five years. Awards last week also went to 24 others, including a Georgia country doctor, Curtis Names Sr., 64, and the founder of the World Institute on Disability, Edward Roberts...
Even the current preoccupation with healthy diets can become a form of skirmishing. Television Producer Irwin Rosten now asks his guests what they do and do not eat when he invites them to dinner; this can get quite complicated when the guests not only observe various religious dietary rules but shun salt or white bread or refined sugar. So many have given up red meat that Stacey Winkler no longer serves it unless she knows in advance that all her guests eat it. At large dinners, she says, she offers several smaller dishes at each course. Says Annenberg: "Some people...