Word: ownership
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Dates: during 1990-1999
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...inventor named Gilbert Hyatt, is a virtual unknown. But Hyatt, 52, has suddenly carved a memorable niche for himself in the multibillion-dollar semiconductor industry. Last week, after a 20-year battle with the patent office, the tenacious engineer announced that he had finally received a certificate of intellectual ownership for a single-chip microprocessor that he says he invented in 1968. The announcement sent shock waves throughout the computer industry, which could be forced to pay Hyatt millions of dollars in royalties...
...more evident than at the 17 toy stores of Manhattan-based F.A.O. Schwarz, where toddlers of the rich and famous could acquire an 8-ft. stuffed giraffe ($4,500) or a child-size Jaguar sedan ($6,000). Now the 128-year-old retailer has joined still another trend: foreign ownership. A Dutch department-store conglomerate, Koninklijke Bijenkorf Beheer (KBB), has agreed to buy the toy retailer from the Morse-Harris Group, owners since 1985. Estimated price: $40 million. Once America's top toy merchant, Schwarz was - losing customers by the early 1980s to competitors like Toys "R" Us. But Morse...
...trimmed sales to $180 million. If Tapie succeeds in acquiring Adidas, it will put him at the head of one of the world's leading makers of sporting goods. His group's holdings in the past included the company that makes Look ski bindings, and he still retains ownership of Belgium's Donnay tennis rackets, which has fallen on bad times since Bjorn Borg, its main promoter, left the pro circuit...
Reassurance that Tapie's deal is for real also came from American entrepreneur Peter Ueberroth, whose Contrarian Group last year assumed managerial control and part ownership of Adidas' U.S. operations. Ueberroth met Horst Dassler in 1979 and with his help and advice transformed the 1984 Olympic Games in Los Angeles into the first one ever to make a profit. Ueberroth has already staunched Adidas' U.S. losses, and in May he flew to Paris for a first meeting with Tapie. Ueberroth said last week he was "impressed with Tapie's global vision" and ability to give slipping companies new energy...
...line on government spending, the National Workers' Front was granted a 43% wage hike for July and was promised another unspecified increase next month. The 800 public servants fired since Chamorro's inauguration on April 25 were granted compensation. And the government suspended plans to return to private ownership properties confiscated during the 10 years of Sandinista rule. With those concessions, virtually every prong of Chamorro's campaign to decentralize and restructure Nicaragua's bankrupt economy has been blunted...