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Richard B. Black, 48, won a place in the Guinness Book of World Records in 1978 for running the fastest continuous vertical, mile, up and down the stairs of Chicago's Lake Point Tower (time: 2 hr. 9 min. 45 sec.). Now Black has achieved a very different kind of notoriety. He is a chief executive officer who is suing the company he worked for. Black has filed a lawsuit that accuses his former employer, AM International, and some of its ex-executives of misrepresenting the firm's financial condition when he was hired a year ago. Black...
...Union speech in November, and the President took a preliminary draft to California on his end-of-year vacation. Reagan and his aides have been extensively rewriting ever since. As of last week, the draft contained blank spaces for new bud-jet figures and proposals. Nonetheless, Reagan took 33 min. to deliver it in a preliminary run-through and told advisers: 'I want to sweat it down some more." He is aiming at 25 to 28 min. Thus the speech will probably contain only bottom-line numbers and broad outlines for many proposals...
Those, of course, were not the exact words used by Ronald Reagan as he dismissed Richard Allen as his National Security Adviser during a 25-min. meeting in the Oval Office last week. Still the President's basic message may have sounded very much that way to an embittered Allen, as the man at the top confirmed what some of his aides had been deliberately leaking to reporters for weeks: Allen was out, in the most important personnel change of the Administration's first year...
...automakers have begun an unprecedented campaign to persuade the union to lower its sights when talks on a new three-year contract begin. GM showed a 22-min. color film called A Battle for Survival to some 400,000 unionized workers in an attempt to encourage them to hold down demands. A pointed message in the presentation: American labor costs are $8 per hr. more than in Japan, and U.S. firms can only compete if they can narrow that gap. GM wants to put a lid on automatic cost of living allowances, increase employee contributions to health plans, and reduce...
...Louis, 66, the "Brown Bomber," one of the best heavyweights ever, whose thunderous punch leveled the likes of James J. Braddock, Billy Conn and Tony Galento. In a memorable vengeance match with racist overtones that was over in a lightning 2 min. 4 sec. of the first round, he crushed Germany's Max Schmeling in 1938. As champ from 1937 to 1949, he defended his title a record 25 times, but never pocketed the monster purses common today and spent years in debt...