Word: mergers
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...from the ceremonies was former ARDE Chief Edén Pastora Gómez. Five days before the Panama meeting, Pastora was relieved of his command on the southern front and replaced by Fernando ("El Negro") Chamorro Rapoccioli, a military officer aligned with the ARDE. Pastora had opposed the merger plan on the ground that the F.D.N. was led by former National Guard officers who had supported deposed Dictator Anastasio Somoza Debayle. Pastora has vowed to continue his war against the Sandinistas with his own faction, the Sandino Revolutionary Front...
...last May, Continental had clamped down on its freewheeling lending and was carrying out a recovery plan. Then rumors began to circulate that federal officials were concerned about the bank's problems and were trying to arrange a merger with three Japanese financial institutions. The reports were untrue, but that did not matter...
They soon became a self-fulfilling prophecy. The rumors, first published by the Commodity News Service and then repeated around the world, prompted many foreign depositors to begin taking their money out of Continental. The FDIC arranged emergency infusions of cash and pushed Continental to find a merger partner. A number of leading banks, including New York's Citicorp and Chemical Bank and First Chicago, examined Continental's books; they were unwilling to take over the ailing bank without large amounts of financial help from the FDIC, which the agency was unwilling to give...
Penn Central. The 1968 merger of the Pennsylvania and New York Central railroads was the largest corporate consolidation up to that time. But management squabbles and a crushing debt load derailed Penn Central in June 1970, three days after the Nixon Administration rejected a company plea for $200 million in loan guarantees. Bankruptcy, however, turned out to be only an intermediate stop. To keep the railroad running, the following year Washington provided up to $125 million in guarantees and later absorbed the company's rail operations into Conrail, the Government-run railroad. Now a diversified manufacturer (1983 sales...
Among current superintendent Lannon's achievements were the implementation of voluntary desegregation in 1975--all the city's schools now have minority populations of between 30 and 50 percent--and the merger of Rindge Technical and Cambridge High and Latin schools into one high school, Cambridge Rindge and Latin...