Word: offer
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Dates: during 1960-1969
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...newly appointed commissioner of baseball. Last week, as the negotiators were about to call for yet another vote from the 700 members of the association-a process that would have taken at least two more weeks-Kuhn cut short a Florida vacation and flew back to Manhattan to offer a suggestion. Lock the door, he said succinctly, sit down and settle the damn thing. Both sides got the message. After a session that dragged on until 5 a.m., a settlement was made...
Measuring Up. Or are they? ROTC goes back to the 1862 Morrill Act, which required colleges built on federal land grants to offer military training. Far from promoting militarism, the whole idea was to prevent the development of an inbred, professional Army by infusing the military with liberally educated officers. Once compulsory at most state campuses (but entirely voluntary since 1960), ROTC supplied 100,000 Army officers in World War II and a steady flow of career men in peacetime...
Concern about Risks In his first pronouncement as the new chairman of the Securities and Exchange Commission, former Idaho Congressman Hamer Budge complained last week that some complex forms of conglomerate financing offer only "an illusion of security." Testifying before a House subcommittee, he counseled investors against being misled by "apparent improvements" in the earnings of aggressive conglomerates. "Those who are engineering the present wave of takeovers," he said, "appear to find short-term profits so tempting that they ignore long-term risks." Later, Robert W. Haack, president of the New York Stock Exchange, told another House subcommittee that...
...became interested in Jones & Laughlin. First there was a correct but tense meeting at the elegant Rolling Rock Country Club outside Pittsburgh, then a secret hotel-room huddle in Cleveland. Though J. & L. Chairman Charles Beeghly was far from eager to sell his controlling shares, he considered Ling's offer so generous?some analysts insist that it was too generous for LTV's good ?that he agreed to go along...
...shares to the meat packer for about $60 per share. He thought he had a deal?and an $18 million profit?but Armour Chairman William Wood Prince tried a squeeze play to drive the price down to $50. His method was ingenious. Armour made a public offer to repurchase 20% of its own outstanding shares at $50 each. If successful, the move would have increased Bluhdorn's stake in Armour from 9.8% to 12½%, thus making Gulf & Western an "insider"* under the rules of the Securities and Exchange Commission?and insiders are barred from pocketing short-term profits in their...