Word: merger
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Dates: during 1990-1999
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...WHEN STEVE ROSS, NEAR death with cancer, checked into a Los Angeles hospital in late 1992, he registered as George Bailey, the self-sacrificing common-man hero of Frank Capra's It's a Wonderful Life. No doubt that was how the man who masterminded the merger of Time Inc. (which owns TIME) and Warner Communications wished to be perceived. But the Steve Ross who emerges in Master of the Game (Simon & Schuster; 395 pages; $25), New Yorker staff writer Connie Bruck's intelligent and fascinating biography, is composed equally of George Bailey, Don Corleone, Felix Krull and Oskar Schindler...
...silver-tongued Ross always extricated himself from dicey situations and moved on to the next play in a bigger game. The 1989 merger of Time Inc. and Warner was his triumph. Personally, he reaped $193 million in stock from the deal, and while, technically, Time was acquiring Warner, and Ross and Time chief Nick Nicholas were to be co-CEOs, Ross quietly maneuvered himself into supremacy by dazzling the board with promises of a rich future. He then orchestrated a coup in which the directors ousted Nicholas...
...while some people have lost their jobs, Wall Street has become richer. Thanks to record sales of everything from derivatives to new stock and bond issues to merger financing, the pretax profits of U.S. brokers and investment banks zoomed to an unprecedented $8.9 billion last year. "I see no reason why 1994 won't be better than 1993," exults Sanford Weil, chairman of Travelers Cos., which owns Smith Barney Shearson. "We're having a great time...
...federation agreement is both complex and incomplete. It provides for a merger of the Croat and Muslim areas of Bosnia under a strong central government and for a system of cantons with their own legislatures and courts. Bosnia's President, Alija Izetbegovic, and Croatia's Franjo Tudjman thought enough of the plan to fly to Washington to sign the papers linking their two countries. But what the arrangement does not cover is almost as important: the Serbs and the 72% of the territory of Bosnia and Herzegovina they occupy...
Both hospitals which are currently reviewingcost-cutting measures had intended to cut $25 to$30 million from their respective budgets beforethe merger was announced, the Globe reported...