Word: mergers
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...College basketball players were sent to jail for fixing games. If gamblers could buy a couple of nobodies on an insignificant team, they could do it on a game that really meant something. It is possible, for instance, that Super Bowl III was fixed to give the pro football merger credibility, though the allegations will never be proven...
...founded in 1924 and not heard from after 1932. The officers of 1930-31 reported solvency and a small membership, adding that "The pessimism as to the inevitable effect of the House plan seems to be quite unjustified for this year at least..." and mentioned the possibility of a merger with a fraternity, Alpha Sigma...
...next day, the Federal Deposit Insurance Corp. announced that the institution would probably have to be written off as a failure and merged with a healthier bank to keep the FDIC's losses to a minimum. The agency loaned First National $ 100 million to keep it alive while merger bids were sought. It was one of the largest FDIC loans ever made to a distressed bank...
...planned to reopen its doors this week; the FDIC will collect First National's bad loans. The passing of the institution into the hands of out-of-towners left some Midland residents gloomy. Said Mayor Thane Akins: "I feel like hanging a black wreath on my door." The merger was one of the largest commercial bank failures in U.S. history, based on the institution's deposits of $622 million. The biggest bank to go under was New York City's Franklin National, in 1974 (deposits: $1.4 billion...
...production capability of those two mills. Some industry experts estimate that 20% or more of the company's potential annual steelmaking capacity of 24.6 million tons could be shut down. Observed William Stephens, an analyst who follows LTV for the Rauscher Pierce Refsnes securities firm in Dallas: "This merger won't be one plus one equals two. It will be one plus one equals ll/2 or 1%." Stephens predicted, however, that a slimmed-down company would be able to return to profitability...