Word: largest
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Dates: during 1980-1989
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...helped force both sides to talk was TWA Chairman Carl Icahn, better known as a raider than a mediator. In November, Icahn became Texaco's largest shareholder by gaining control of 12.3% of its stock. Then he began a round of shuttle diplomacy between Liedtke and Kinnear. Icahn knew that his holdings, plus a 2% stake in Pennzoil, would surge in value if a deal was struck. Sure enough, as word of the settlement leaked last week, Texaco shares rose 8%, to 38 1/2, while Pennzoil stock jumped...
...prepare for that rainy day, America's banks are facing the painful task of giving up on their most hopeless loans, taking the losses now rather than putting them off. Last week Bank of Boston, the 13th largest U.S. bank, said it plans to write off $200 million of its total $1 billion in Third World loans and set aside $470 million to pay for losses it might sustain on the rest. While other banks, led by New York's Citicorp, announced huge set-asides earlier this year to cover losses on Latin debt, the Boston bank's move...
Already, the limited coming-to-grips with bad loans has wiped out 1987 profits at many major U.S. banks. Analysts expect most of the largest institutions to post overall losses. Among them: Citicorp, BankAmerica, Chase Manhattan, Manufacturers Hanover and Chemical Bank. Last week Pittsburgh's troubled Mellon Bank, the twelfth-ranking U.S. institution, disclosed that it would be about $220 million in the red for the fourth quarter, after boosting its loan-loss reserves...
...that is in it is our theme." When Bell hired his future son-in-law, a schoolteacher named Gilbert Hovey Grosvenor, 23, to run the magazine in 1899, the young man catered to snob appeal by soliciting "nominations for membership" instead of subscriptions. The device eventually created the largest nonselective society in the world. Grosvenor's grandson Gil now serves as president of the nonprofit society, which last year showed an estimated $370 million in revenues...
...Court Judge Morris Lasker told a packed courtroom in Manhattan, "Criminal behavior such as Boesky's cannot go unchecked. Its seriousness was too substantial merely to forgive and to forget." With that the judge sentenced the onetime superstar investor to three years in prison for his role in the largest insider-trading scandal in history...