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...public concern," private individuals must prove that damaging press statements about them are false. The action struck down rules in Pennsylvania and eight other states that had put the burden of proof on media defendants to show the statements were true. The case arose when Maurice Hepps, principal owner of a beverage- and snack-retailing chain, sued the Philadelphia Inquirer for reporting that his chain might be connected with organized crime. For the majority, Justice O'Connor acknowledged that the decision would cause plaintiffs to lose when "evidence is ambiguous," but she concluded that the "Constitution requires...
...dollars for the gurus and probably started a few graduates on the path to success. But many mortgage lenders and real estate brokers, irritated by shaky financing schemes proposed to them by the no-money-down graduates, think the preachers make it look much too easy. Says Mary Burton, owner of a Chicago real estate agency: "People who call in after these seminars want everything. They want a cheap price, a good location and terrific terms. I see it as a waste of time...
What is the next-best thing to a car that never breaks down? How about an auto backed by a guarantee that if it sputters and stalls, the owner will get a free tow and in some cases a hot dinner, a free hotel room and an airline ticket? Starting May 1, Volvos will come with a three-year guarantee of free 24-hour access to service dispatchers who can arrange tows, repairs and even reimbursement of up to $500 for room, board and alternative transportation if needed...
...belt tightening has come as no surprise to industry watchers. Capital Cities, a successful owner of magazines, newspapers and broadcasting stations, is known for running lean, and extremely profitable, operations. ABC, meanwhile, has been floundering financially. As NBC last week celebrated its first victory ever in Nielsen's cumulative annual prime-time ratings, ABC chalked up a last-place place finish for the second year in a row. Capital Cities/ABC executives told stockholders three weeks ago that the network may post a net loss this year for the first time since 1971. Nor is the situation likely to improve quickly...
...there were 1,639 similar transactions, worth more than $81 billion. But then the pace slowed a bit. In the past three months only 714 deals took place, involving more than $21 billion. Now, however, the merger game definitely seems to be heating up again. Allied Stores, owner of Brooks Brothers and Bonwit Teller, last week announced a $3.56 billion merger with the Edward DeBartolo Corp., the largest U.S. developer of shopping malls. The aim of the Allied marriage: to avoid a $3.5 billion offer from a Canadian developer, Campeau, which promptly sued to block the Allied-DeBartolo union...