Word: mergers
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Dates: during 1980-1989
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...Chevron bought Gulf, which made its home in the Pennsylvania city. The purchase wounded Pittsburgh's pride, and stands to cost it more than 2,000 jobs as Chevron shuts offices and shifts employees to other U.S. locations. In all, Pittsburgh Mayor Richard Caliguiri estimates that the Chevron-Gulf merger will result in the loss of nearly $75 million in income for residents of the area...
...could use the funds to buy other companies, making it harder for Turner--or anybody--to swallow CBS. The maneuver churned up rumors that CBS might merge with Time Inc. or sell its magazine division to raise cash. CBS denied the gossip, as well as reports of a friendly merger offer by General Electric...
...will remain frozen until authorities find a healthier partner to take over the shuttered bank. About 3,000 depositors gathered last week at Xavier University's field house for an emotional rally to urge the state to speed up action. New York's Citicorp has emerged as the prime merger candidate. A host of state and federal investigators are looking into Home State's ties with E.S.M. Government Securities, a Fort Lauderdale dealer in Treasury bills and bonds whose March 4 closing forced Home State out of business. A central figure in these probes is Financier Marvin Warner, the owner...
...Washington, Justice Department officials foresaw no antitrust barriers, as long as both companies complied with FCC regulations regarding mergers. Some potentially problematic FCC rules might be relaxed by Reagan Administration appointees, who have already let several other large mergers go through unchallenged. Industry lawyers, for example, think that the commission might do away with a regulation that bans a network from owning cable-TV systems, a large part of Capital Cities' business. Joseph Fuchs, a Kidder Peabody vice president and one of Wall Street's top media analysts, thinks that the FCC now sees itself as "neither a sword...
Still, ABC's financial situation was unstable (it was the target in the 1960s of attempted hostile takeovers by Norton Simon and Howard Hughes and an aborted merger with ITT), and its hold on last place in the ratings seemed depressingly unshakable. Some of the network's hit shows of the late 1960s and early '70s were often faddish entries, quick to catch on and quick to fade away: Batman, The Mod Squad, Kung Fu. ABC's ratings woes became the subject of mordant jokes. Asked how to end the Viet Nam War, industry wags would reply, "Turn it into...