Word: pacts
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Nonetheless, Chancellor Helmut Kohl did not back down, and last week formally proposed negotiations with Moscow. In the U.S. view, the German demands threaten the entire NATO strategy of nuclear deterrence. For 40 years NATO has relied on nuclear weapons to offset the Warsaw Pact's overwhelming superiority in conventional arms. The backbone of its land-based tactical nuclear force consists of 88 U.S.-made Lance launchers...
Washington and London maintain that talks on tactical nuclear arsenals should not begin as long as the Warsaw Pact alliance has a superiority in conventional forces...
...Drexel's pact with the SEC, which must be approved by a federal judge, will allow the firm to close the book on a 2 1/2-year federal probe. But the price is high. The agreement puts Drexel on probation for three years and requires it to set up an oversight committee. The firm is also naming a new chairman, former SEC head John Shad, to succeed Drexel's Robert Linton. As expected, the deal forces Drexel to cut all ties to its former junk-bond king, Michael Milken, who is facing separate criminal charges of racketeering and securities fraud. Last...
...fair, there was little of the shamelessly self-congratulatory rhetoric that normally consecrates such empty agreements. The President called the budget pact a "first, manageable step" taken "in a constructive, bipartisan spirit." The Democrats reflected mild embarrassment over the ease with which they had capitulated to Bush's no-new-taxes pledge, something close to the Administration's defense-spending target and budget chief Richard Darman's strategy of forcing Congress to make the fiscally necessary but unpopular cuts in domestic programs. "This is not a heroic agreement," said House Speaker Jim Wright, putting it mildly. And Senate Majority Leader...
When is a deal not a deal? Buyout agreements are getting trickier because they now bristle with escape hatches. Last month Donald Trump balked on his $365 million pact to buy Eastern's shuttle when the airline sought bankruptcy protections. Brandishing a clause that allowed him to dicker on the price if shuttle business fell off before his deal closed, Trump pressured Eastern into including four more airliners for the same price. The concession was worth up to $26 million...