Word: multibillion
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Westerners have not so much adapted to their environment as they have defied it and remade it. This has required the region's Senators and Governors to sink deep wells into the federal treasury and draw forth sprawling, multibillion-dollar water-moving and -storage schemes (notwithstanding the popular image of Westerners as self-reliant and suspicious of meddlesome Government). Thus in the midst of the current nationwide drought, the 74 golf courses around Palm Springs, Calif., have plenty of cheap federal water to keep their sprinklers hissing, while Arizona farmers can afford to grow water- intensive crops like alfalfa...
...bailing out thrifts over the next three years, an amount it deems adequate for the task provided there is no economic downturn. Yet some experts, including Bert Ely, a Virginia-based financial consultant, believe the cost could exceed $50 billion. They fear that the FSLIC will need a multibillion-dollar infusion from taxpayers to restore the thrift industry to health...
...capitals, New York and Chicago, helped make the U.S. an innovative leader in the world marketplace. But suddenly the character of that sporting competition has turned warlike. Set off by recriminations over which side was responsible for the Oct. 19 crash, the trading centers have become locked in a multibillion-dollar struggle for turf and influence that is frightening away investors and harming business for both. "I have nothing nice to say about Chicago. They've ruined everything," declares Dudley Eppel, 57, a stock trader for Wall Street's Donaldson Lufkin & Jenrette Securities. Says Richard Dennis, a hyper-wealthy futures...
...mergers but will ward off hostile attacks whose only purpose is a quick profit. Raiders like T. Boone Pickens contend that the law will merely make mediocre corporate managers more comfortable. Even so, not all corporations are pleased: Black & Decker and Canada's Campeau Corp., two companies currently making multibillion-dollar takeover offers, have already begun to challenge the Delaware law in court...
...renaming the product groups to give them pizazz not normally seen at IBM. Example: the Information Systems & Storage Group will be rechristened IBM Enterprise Systems. What's more, a new generation of top management is emerging. One notable leader is Ellen Hancock, 44, who in taking over IBM's multibillion- dollar telecommunications division becomes one of the country's most powerful women executives. All told, IBM's adversity is prompting the company to think in untraditional ways. More surprises are no doubt in store. "We're not through," says Akers. "This is far from...