Word: mergers
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Dates: during 1970-1979
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...back as 1965, Fishwick's dream was to merge the N&W with Chesapeake and Ohio to create a system strong enough to compete with what became Penn Central. The merger idea was put on the back burner when the Penn Central went broke. Fishwick has since turned his attention to making N&W the nation's No. 1 railroad for service...
...understandably eager to acquire First Western's existing system. Cooley was willing to pay $95 million, almost $22 million more than First Western's book value. Though the U.S. Comptroller of the Currency approved the deal, the Justice Department has taken a much sterner view, claiming the merger would reduce competition in both lending and customer service. Last week Justice filed suit against the Wells Fargo merger, and most observers figured that Cooley would drop the deal rather than fight a long, costly battle in court...
After receiving encouragement from Judge Merhige himself, the Richmond school board last year finally joined the original eleven plaintiffs and sought a merger with Henrico and Chesterfield counties (see map). In ruling for that merger, the judge declared that the state has an "affirmative duty" to eliminate all vestiges of segregation; it cannot shrug off this duty by pleading for local control of schools or by insisting on traditional boundary lines...
...main factor tempering brokers' enthusiasm is a gnawing concern about increasing Government control of the market. The 1970 bear-market debacle swept more than 100 brokerage firms into merger or bankruptcy and badly shook the faith of the investing public. Since then, the effectiveness of the industry's all but autonomous self-regulating agencies -the New York Stock Exchange and the National Association of Securities Dealers-has been sharply questioned...
Glendening stressed the increased need for RUS since the non-merger with Harvard. "Women are a minority and we must stick together," she said...