Word: malonee
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Ray Smith and John Malone were sitting in their respective offices last Tuesday, both watching the same show: a C-SPAN broadcast of the Federal Communications Commission hearing on cable-TV rates. Smith, the chairman of Bell Atlantic, was in his Arlington, Virginia, office; Malone, the boss of cable giant...
By the time they met the next day in the midtown Manhattan offices of Bell Atlantic's law firm, Skadden, Arps, Slate, Meagher & Flom, Smith had calculated that the rate reduction would slash TCI's cash flow by $1.8 billion and thereby reduce the company's value by a comparable...
Smith made one last try. "Let's take the price off the table," he said. So for the next 45 minutes the conversation roamed over topics ranging from programming to regulations. But inevitably the talk returned to price. "It's no good," said the hard-edged Malone. "I can't...
But the merger had been tottering for weeks. Three deadlines for a definitive agreement had already come and gone. The big problem was the slumping value of Bell Atlantic stock, which had dropped from 67 5/8 on Oct. 14 to 52 3/4 the day the deal collapsed. That was uncomfortably...
These women could indeed be the last of the great white-clad debutantes, if their answer to the question, "Do you think your daughters will be debutantes?" are any indication. Anonymous's response is, "Definitely not. The only reason I did it was for my grandmother and it won't...