Word: money
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Dates: during 1980-1989
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...secretariat defends its cozy relationship with the ivory business. Eugene Lapointe, CITES secretary-general, says inadequate financial support from governments left the group little choice but to turn to the trade for money. CITES, he says, has no enforcement authority and should not be held accountable for policing. That, he says, is the responsibility of the individual nations. As for the amnesty granted the Singapore and Burundi ivory, the secretariat says a 1985 vote by its member nations empowered it to register all stocks...
American's best defense seems likely to be an attack on the amount of debt needed to finance a takeover attempt. Trump, whose personal fortune is estimated at between $1 billion and $3 billion, has offered to put $1 billion of his own money into the deal. The rest would come from bank loans. Trump may get the money, but politicians and air-safety experts have alleged that highly leveraged carriers might be tempted to skimp on safety measures to maintain profits. AMR released a statement last week saying it "continues to believe that excess levels of debt...
...could turn to hometown partners for help. Rumor had it that certain members of the billionaire Bass family of Fort Worth might take a large friendly stake in the company, as they did to protect the Walt Disney Co. from a raid several years ago. Or Crandall might borrow money to create an Employee Stock Ownership Plan to achieve the same goal...
...side, Trump has several factors in his favor. For one, an estimated 80% of AMR is owned by institutional investors, who generally show less loyalty to management than do individual shareholders. For another, AMR has not paid dividends to its shareholders since 1980, contending that the money would be better spent to build the company. In addition, AMR's board of directors can be removed by a simple majority vote of shareholders. Because Trump gave the company only until Oct. 20 to respond to his offer, he "has got them on a very short leash," says Owen Dowd, a senior...
...psychiatric evaluation, one witness collapsed, and Hurricane Hugo interrupted the proceedings. The usual details emerged about Bakker's lavish spending habits (motorized bedroom draperies, a $500 shower curtain). The prosecution's star witness turned out to be Bakker himself. Jurors endured eight hours of videotape showing his histrionic money pitches and then heard the ex-preacher describe himself on the witness stand as a "minister of the gospel," not a "professional businessman...