Word: pact
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This scenario illustrates a striking new development: Hungary has become the first nation in the Warsaw Pact to offer sanctuary to citizens of a Communist ally. Since January more than 4,500 Rumanians have received permission to settle in Hungary, and officials predict that the number will swell to at least 12,000 by year's end. Virtually all the newcomers belong to the large ethnic Hungarian minority (more than 1.7 million) that lives in the western Rumanian region of Transylvania. The immigrants complain that ethnic Hungarians are the victims of official discrimination. Hungarian authorities agree: in April, Budapest protested...
...Saudi money would reduce Texaco's $10.4 billion debt and perhaps help ward off a takeover by Carl Icahn. In fact, the proposed pact was made public the day before Texaco stockholders met to vote on Icahn's bid to win five seats on its 14-member board, a crucial step toward a takeover. Counting of the ballots will not be finished for several weeks, but Icahn says he would not mind sharing Texaco with the Saudis...
Another factor in Ford's surge is a new spirit of cooperation between labor and management. Last September the United Auto Workers union, which represents 104,000 Ford employees, agreed to accept a contract that calls for a moderate average wage increase of 3% this year. The pact includes concessions by both sides. The union said it would help Petersen achieve his goal of creating more Japanese-style teamwork. In exchange, Ford agreed to a provision that bars the company from laying off workers in all but the sharpest of economic downturns. Says Ford Executive Vice President Philip Benton...
Hakim notes that Arias' plan for a settlement caught the world's imagination, while the United States' efforts in the same area had failed abysmally. The pact lead to an "immense pride by Central Americans generally" that the U.S. had been surpassed by the efforts of five small Central American nations, Hakim says...
...pact also put the country, and its unique democratic experience, under the spotlight of world attention...