Word: ownership
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Dates: during 1980-1989
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...level. The Administration's most important initiative in that direction has been its proposal to sell Conrail, the Government-owned railroad formed from the remains of the bankrupt Penn Central, to Norfolk Southern, a private railroad, for $1.2 billion. Said President Reagan in a talk two weeks ago: "Government ownership is no way to run a railroad. When the private sector can deliver better service for less money than the public sector, as it can with Conrail, then the Government must step aside." Congress moved closer to approving the Conrail sale last week when the Senate defeated an effort...
...provided mortgage insurance to 50 million homeowners who might otherwise have been unable to buy houses. Critics of the Administration plan feared that if private companies took over the functions of the FHA, they might set tougher standards for mortgage insurance and exclude more people from home ownership. Disposing of the FHA, said Warren Lasko, executive vice president of the Mortgage Bankers Association of America, would be tantamount "to selling the American home buyer down the river...
...actual worth. Martin Lipton, a Wall Street lawyer who specializes in helping companies defend themselves against raids, denounces them "as financial transactions for the profit of the takeover entrepreneurs." He adds sharply, "They do not create jobs. They do not add to the national wealth. They merely rearrange ownership interests and shift risk from shareholders to creditors." Concurs Peter Jones, retired senior vice president of Levi Strauss and now an instructor at the University of California, Berkeley: "While we in America devote a major part of our material and human resources to promoting and fighting mergers and hostile takeovers...
...Knights themselves, should have been more sensitive to the rights of the minority of Cantabrigians who don't adhere to the Christian holiday tradition. Placing a creche on public property is not a violation of the credo of separation of church and state, but not designating the creche's ownership is. In a democracy, the minority should not be alienated by state-sponsored religious symbols...
...eyed and bewrinkled hounds packaged in kennel-shaped carrying cases. They come in 80 different patterns of brown, tan, gray and white, and are meant to be "adopted," like Cabbage Patch Kids. The youngster who gets one can send to the manufacturer, Tonka, for a dog tag and ownership papers. Minnesota-based Tonka, which is diversifying from its traditional line of sturdy toy trucks, expects to sell some $50 million worth of Pound Puppies in the first season...