Word: mcgraw
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...evening to catalogue the bureaucratic monsters they often encountered: "Mr. Kilpatrick recalled the Budgetary Shortfall he had seen along the Potomac. Mr. McCarthy spoke fondly of Leaping Qantums." They roused Political Cartoonist Jeff MacNelly out of bed to portray their creatures, and the result was A Political Bestiary (McGraw-Hill...
...American Express will suffer a stunning defeat-if McGraw-Hill shareholders are satisfied...
...good number apparently are not; the $40 bid is far above the market price of McGraw-Hill shares ($30 last week). Harold McGraw's cousin Donald, who was forced out of his posts as a company group president and director, but still owns 2.5% of the stock, said he was "annoyed" that the board did not at least negotiate with American Express...
Though the chairman has called the Amexco bid illegal, Donald McGraw dis missed that charge as "a ploy that Harold is using to pass by the stockholders be cause he does not want to sell at any price...
...least one stockholder has already filed suits against the McGraw-Hill management and others are expected to follow, claiming that they were financially damaged by the turndown of the $40 bid. Said Abraham Pomerantz, a New York lawyer who makes a specialty of class action suits: "There are squeals all over America from frustrated shareholders of McGraw-Hill. My telephone has been ringing all morning with calls from people who want to join the [lawsuit] parade...