Word: payoffs
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Dates: during 1980-1989
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...biggest future payoff for IBM is likely to come in the field of office automation. The key to the so-called paperless office will be computerized networks that shuttle messages between computer terminals, telephones and other office equipment. All can then be consolidated into a "work station" atop a desk. "The world of the future is centered on powerful work stations," says Lewis Branscomb, IBM's chief scientist...
Among the questions before the panel: Was the Climaco firm appointed examiner in the White Motor bankruptcy (possible fee: $1 million) as a payoff for hiring Nephew Gino? The firm was chosen by Bankruptcy Judge Mark Schlachet, a Battisti protege and the son-in-law of one of Battisti's close friends. Schlachet resigned last year while under investigation for improperly giving high-paying court appointments to friends...
With that, the White House launched the eleven-member Commission on Strategic Forces, chaired by retired Air Force Lieut. General Brent Scowcroft. It followed up with a relentless five-month campaign to convert wavering Democrats and Republican moderates. The payoff came last week: a 239-to-186 House vote-which was the big test-then a 59-to-39 Senate vote to release $625 million in MX flight-testing and development money. It was a resounding political victory for Reagan. Exclaimed the President to Duberstein: "Fantastic...
...them just fine. In exchange for free air time, the record companies provide eye-catching videotapes of artists performing their latest songs. The highly stylized three-to four-minute tapes cost an average of $30,000 to make, but some can run as high as $150,000. The payoff can be huge. Men at Work were unknown before they appeared on MTV a year ago. Shortly afterward, their first album, Business as Usual, appeared on the bestseller charts, where it has remained for 47 weeks...
...falling sharply, Volcker abruptly changed the focus of the Federal Reserve's policy from manipulating interest rates to setting targets to slow the growth of money and credit. This helped push the prime rate to 21½% by December 1980 and sent the economy into recession. But the payoff was a sharp drop in inflation. Prices were increasing at about 13% a year when Volcker took over. Today the U.S. inflation rate is less than 4% annually...