Word: laborities
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During the time since their early smash hits, both men have launched some money-losing flops. Wozniak dropped as much as $20 million in 1982 and '83 as promoter of California's US Festivals, two Labor Day rock extravaganzas. With some $70 million of his fortune left, Wozniak resigned from Apple early last year to develop an infrared remote-control device capable of simultaneously operating several types of components, including TV sets and videocassette recorders. So far, his CL9, an abbreviation of "cloud nine," is not profitable and has produced only one product, a $30 device that amplifies the signal...
Inflation may not be dead, but it certainly seems to have gone into hiding. The Department of Labor last week reported that the Consumer Price Index fell .4% in March, equaling February's decline. It was the first back-to-back price drop since 1965 and the steepest two-month decrease in more than 36 years. The main cause: declining energy prices, which were off 6.5% for the month...
Eastern Airlines' labor leaders were none too pleased three months ago when their company agreed to merge with Texas Air. Reason: Texas Air Chairman Frank Lorenzo has earned a reputation as a fierce foe of unions. Now it appears that Eastern's workers may be maneuvering to foil the deal. Union representatives have been meeting with Jay Pritzker, a Chicago financier who controls Braniff Airlines and the Hyatt hotel chain. Pritzker is said to be considering a bid for Eastern in return for wage concessions from the workers. Texas Air controls 51% of Eastern stock, but Pritzker could conceivably make...
...insists Reagan, he will note every move Gorbachev makes, he will weigh his body language, his gestures. "I'll watch all those things," says Reagan. "His tone, his mood, his look. I've been doing that since I was a labor negotiator in California. In Geneva, when the Secretary posed his ideas, I could see that they were based on true belief and the statements that the Soviet Union put out. He really believes them. It was plain to me that I had to answer back just as earnestly about our beliefs. There is no question that he is intelligent...
...lack of a formal labor contract at USX may be one reason why corporate buccaneers, sensing the potential for wage cuts and an eventual increase in corporate earnings, soon began to sniff around. Another attraction for raiders is a USX pension fund with an estimated $2.5 billion in excess assets. Last month the company's stock began moving into some well-known hands. Among the buyers: Robert Holmes à Court, an Australian investor; T. Boone Pickens, the Texas oilman-raider; Irwin Jacobs, the Minneapolis entrepreneur and speculator. Pickens reportedly cashed in his chips two weeks ago for a big profit...