Word: outbids
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...custodians of public trust can also help defuse image problems that threaten to snarl deals. For example, Carlyle became the adviser to Saudi Prince al-Waleed bin Talal in his $590 million investment in Citicorp in 1991. The firm subsequently teamed with France's state-owned Thomson-CSF to outbid U.S. defense giants for the missile and aircraft divisions of LTV last year. Such global connections can be controversial. "The one significant problem for Carlyle is that they've been on the foreign side of controversial transactions," says a Washington lobbyist and rival dealmaker. But Carlyle has the political savvy...
...more than 30 years the eight Ivy League colleges and M.I.T., as well as dozens of other private institutions, mostly in the Northeast, agreed that they would not try to outbid one another for talented students who needed financial assistance. Each spring this so-called Overlap Group, led by M.I.T. and the Ivies (Brown, Columbia, Cornell, Dartmouth, Harvard, Pennsylvania, Princeton and Yale), would share information about needy students accepted by more than one of the member schools, working out a standard financial-aid package. Last year the Justice Department charged that this practice violated U.S. antitrust laws by suppressing competition...
...distributing were also produced by Miramax. Two of these are already in some trouble. Strike It Rich, with Molly Ringwald, has bombed, and The Lemon Sisters, with Diane Keaton, has been delayed for reworking. Miramax must also contend with greater competition from the big studios. Warner, for instance, outbid Miramax last year for the documentary-style Roger & Me, a major hit. The brothers insist there is still plenty of room in Tinseltown for the little guy. Says Harvey: "We try to be like Rolls-Royce. We make great cars, but just a few of them. We're not competing with...
...trade books at Random House. Two years ago, when she worked in a top editing job at rival Simon & Schuster, Evans was so determined to keep author Mario Puzo in her literary camp that she offered him a $3 million advance for his next book, sight unseen. A competitor outbid her by $1 million, so she matched the offer. "When I have to have it, I have to have it," she explains. The Godfather author, who jumped to Random House when Evans moved there in late 1987, is expected to deliver his pricey manuscript in about six months...
...quickly appeared that Labor would be unable to outbid Likud. The morning after the election, Shamir announced his willingness to amend the Law of Return, which grants all Jewish immigrants immediate Israeli citizenship. For years the religious parties have sought to redefine "who is a Jew" by recognizing only those born to a Jewish mother or converted to Judaism by an Orthodox rabbi. The proposal to disregard all other conversions has particularly upset U.S. Jews, most of whom identify themselves with the Conservative and Reform branches of Judaism...