Word: legalism
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Dates: during 1980-1989
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Circling each other warily, always on the lookout for decisive openings, Time Inc. and Paramount Communications engaged in a fresh round of legal and financial swordplay last week. No clear winner emerged in the epic duel, but the thrusts and parries offered Wall Street speculators plenty of titillation -- and uncertainty. Time's board started off by rejecting Paramount's sweetened takeover bid, in which the company raised its offer for Time from $175 to $200 a share, or a total of more than $12 billion. The Time directors reiterated their plan to go ahead with an acquisition of Warner Communications...
...legal struggle, meanwhile, spread to hundreds of cities in which Time's cable-television subsidiary owns franchises. One of Time's anti-takeover strategies has been to say that the transfer of the local cable licenses required by a Paramount takeover would create crippling delays. Time won some support on that front when the U.S. Conference of Mayors and the attorneys general of 13 states expressed concern to the Federal Communications Commission that a hostile takeover of Time's cable-TV operations might violate laws that give state and local governments the right to approve changes in ownership...
...headline: I'M PROUD OF MY LESBIAN DAUGHTER. In New York City last month, the Fund for Human Dignity unveiled a model national campaign that would feature gay-rights supporters in 60-second TV spots called "Stonewall Minutes." In one sample spot, attorney Thomas Stoddard of the Lambda Legal Defense and Education Fund declares that "the days when gay people could never be themselves, when gay issues were never discussed, will never come again." That is undoubtedly true. But most gays would also agree with one of Kirk's main points: "Success will only come when we've managed...
Numbers games, sports betting and other forms of illegal gambling have been mushrooming, as Pete Rose's troubles testify. But the really explosive growth in the past 25 years has been in gambling that is completely legal: state- sponsored lotteries, offtrack betting parlors and the like. In fact, many believe that the growth of legal betting has spurred illegal wagering by spreading the idea that "it's O.K. to gamble." So, the more governments sponsor various forms of wagering, the more insistent grows a moral question: Should the states promote, encourage and even hype the nation's betting frenzy...
...real benefit is zero." Less than zero, actually. Smith complains that he cannot get a bond issue authorized because local officials think that schools are rolling in lottery money. Says Thomas Cummings, head of the Massachusetts Council on Compulsive Gambling: "Before this thing is through, there will be a legal bookie on every block and corner of this country...