Word: multibillions
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Dates: during 1980-1989
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...industrial policy. He opposes restrictions on trade like tariffs and quotas and advocates a restructuring of Third World debt. In a speech last month, Hart proposed an overhaul of the U.S. education system featuring stricter accountability for teachers and offering educational retraining for adults. To help finance this multibillion-dollar proposal, he would impose a $10-per-bbl. fee on imported oil and make cuts in military and agriculture programs. Although Hart had one of the most liberal voting records in the Senate, he has cast himself as a nonideological technocrat intent on steering the Democratic party away from traditional...
...invested in ambitious development projects around the world, several of which have come undone. In Salt Lake City where Khashoggi launched a $1 billion real estate venture, his Triad America company is being sued by dozens of contractors and investors for $140 million. In the Sudan, his multibillion- dollar plan to turn the desert nation into a breadbasket failed when his friend President Jaafar Numeiry was deposed. Khashoggi is also suffering smaller indignities. French authorities last week seized his DC-9 because he had not paid a debt to a British corporation. In Marbella a strike by some 60 servants...
...only a day after Revlon's cease-fire, three more multibillion-dollar takeover bids hit the market. The Limited, a retail chain, teamed up with Real Estate Developer Edward DeBartolo to make a $1.8 billion offer for Carter Hawley Hale Stores, which operates Neiman-Marcus and Bergdorf Goodman. American Brands, a consumer-products conglomerate, made a $2.8 billion bid to take over a similar but smaller company, Chesebrough-Pond's. And Minnesota- based Corporate Raider Irwin Jacobs offered to pay about $4 billion to acquire Borg-Warner, a diversified company best known for its automotive products. The stocks of these...
...paneled corridors of Manhattan's brokerage firms and investment houses, the scandal was reverberating in an atmosphere that one eminent Wall Street lawyer described as "hysteria." At blue-chip law firms, telephones rang incessantly as worried players of the multibillion-dollar business- takeover game sought advice and protection. Said a nervous Manhattan brokerage executive: "Everyone is scared to read the newspaper in case his name might be in it." Similar jitters struck in Los Angeles, where guards carefully screened visitors to the offices of one of the country's hottest investment firms, now the focus of curiosity and controversy...
...main handicap at the moment is its high production costs, which analysts put at $11,500 an auto, compared with $9,800 at Ford and $9,300 at Chrysler. A prime reason, ironically, is GM's multibillion-dollar rush to reduce labor costs by installing robotic factories, many of which still have bugs. Example: at Detroit's Poletown luxury-car plant, the taillights on some models tended to melt in the automated paint-hardening ovens. The technology * should gradually become a financial advantage as it begins to operate more smoothly. Says Chairman Smith: "You know we are not making clothespins...