Word: merger
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...proposed changes would make mergers less difficult for rivals in industries beset by imports, like steel and apparel. Among other reforms, they would ease penalties in antitrust suits brought by one company against another and would make it harder for courts to block a merger on grounds that the combined firm might eventually become a monopoly...
...proposals are certain to run into trouble when they reach Congress. There has been growing public concern that the merger wave has already gone too far, and that sentiment is likely to be reflected among legislators. Peter Rodino, a New Jersey Democrat and chairman of the House Judiciary Committee, predicted last week that his panel will not support "substantial or precipitous changes in the antitrust laws." The overhaul should receive a warmer greeting in the Senate, where South Carolina Republican Strom Thurmond, who heads the Judiciary Committee, plans to give it careful consideration. An aide described Thurmond as a longtime...
...Patriots have not ascended to a final championship game since the pre-merger season of 1963, when they lost to San Diego, 51-10. That was the year Chicago last claimed the National Football League championship. Though a lopsided score is conceivable again, the Bears would be wise not to dismiss Patriot Tackle Brian Holloway's contention, "We have some magic." No one could mistake its source: Coach Raymond Berry, 52. Capping his first full season on the job, the legendary Baltimore Colt pass catcher was hoisted jubilantly aboard his players' shoulders and given an extended ride about the stadium...
...Says Whiting: "This complaint has caused rancor because of the insinuations. Plainly it is not true that Mr. Gallo doesn't know how to make cheese. Joseph Gallo is very much a perfectionist and was kind of hurt that he was attacked this way." AIRLINES Trying to Foil a Merger...
There was less ambiguity in the $2.8 billion merger offer made to limping BankAmerica (assets: $117 billion), headed by President and Chief Executive Officer Samuel Armacost, 47. The proposal from Joseph Pinola, 61, chairman of California's First Interstate Bancorp (No. 9 in the U.S., with assets of $50 billion), was to forge a firm that would rival Citicorp ($176 billion) as the country's No.1 banking institution. Late last week, as BankAmerica board members considered Pinola's offer, Armacost abruptly resigned. The reason, as he put it, was "to help restore confidence in this organization's capabilities and future...