Word: paring
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...wonder then that Fleet Street's proprietors are trying to pare expenses by modernizing plants and cutting work forces. One owner whose efforts foundered is Lord Hartwell, whose family has run the Daily Telegraph (circ. 1.2 million) since 1928. In June Hartwell assembled a $156 million package to pay for both modern printing plants and severance for hundreds of his workers. Faced with a money squeeze this month, Hartwell sold a 35% stake to Hollinger Argus, Ltd., a Toronto-based mining firm owned mostly by Conrad Black, a Canadian tycoon whose holdings range from radio stations to supermarkets. Black...
When Congress was trying to pare the Pentagon budget last spring, Defense Secretary Caspar Weinberger suddenly discovered a $1.7 billion surplus resulting from miscalculating the estimated inflation rate. That windfall may be only part of the military's reserves. A study by Congress's General Accounting Office has disclosed that the Pentagon may have amassed an extra $37 billion since fiscal 1982 by exaggerating the effects of inflation...
...Bankers Association, it costs banks only from 35 cents to 50 cents to process each electronic payment, compared with from 50 cents to $1 for every paper check. Also, as the number of home bankers (and ATM users) increases, banks will require fewer tellers behind windows, enabling them to pare their payrolls. And greater efficiency can be designed into electronic banking systems. Today when a home banker tells his computer to pay his $50 medical bill, someone at the bank must fill out a paper check and mail it to the doctor. Says Lisa Andrews of San Francisco's Wells...
...Atlantic Richfield, the sixth largest U.S. oil firm, last week unveiled a sweeping reorganization program. The Los Angeles-based concern (1984 sales: $25 billion) announced that it will shed all its refining and marketing operations east of the Mississippi, including 1,100 gas stations. The company also intends to pare down spending on exploration by 50% and abandon its copper and molybdenum businesses. More dramatically, ARCO's board of directors voted to increase significantly the firm's long-term borrowing. As a result, total indebtedness could reach more than 50% of the company's net worth. With the additional funds...
Burcham's cascade of medical problems began during surgery, when doctors discovered that his chest cavity was too small to accommodate the grapefruit- size Jarvik-7. DeVries was forced to pare away at the breastbone and twist the heart's chambers around to make it fit. "It was like putting a round peg in a square hole," he said. The struggle to implant the artificial heart probably contributed to Burcham's massive bleeding over the next 24 hours. In all, he lost more than five gallons of blood--four times the total volume in an average-size adult. Only continual...