Word: payouts
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Dates: during 1980-1989
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...recognizing the need to be competitive." Adds U.A.W. Vice President Stephen Yokich: "I can see a totally different attitude. We're meeting and talking about our problems." Working together has its rewards: this year's $636 million profit-sharing disbursement is believed to be the largest such payout ever made by an American company. The workers received average bonuses of $3,700, up from...
...very supposition that decreased annual giving will automatically lead the administration to make up the difference through the endowment falls in the face of budgetary reality. Much as this scenario would excite any administrator, budgets simply do not work in this fashion. Each year the University determines the "payout"--that portion of the endowment's interest that will fund each school's budget. If the amount given to the College in a given year falls, it's not as if the endowment fairy is going to drop extra money on Dean Spence's desk to cover all the programs...
...stakes of Icahn's ventures keep getting larger and riskier. Last week Texaco, in which Icahn holds an interest of nearly 15%, said it lost an astronomical $4.4 billion last year, mainly because of its $3 billion payout to settle an epic takeover dispute with Pennzoil. Yet Texaco's loss might have been far larger had it not agreed to a compromise settlement of Pennzoil's $10.3 billion claim -- a break in the stalemate that Icahn helped bring about. Now Icahn is locked in a struggle with Texaco's management over how to restructure the company and bring it back...
...applied for 1,113 sales-agent jobs in California during the past 13 1/2 years. State Farm believes the settlement will cost no more than $50 million, but the plaintiffs' attorney estimates that the bill will be as high as $300 million. That would make it the largest payout in the history of sex- discrimination suits...
...defense. Under its provisions, the company would take on more than $3 billion in additional debt and then give stockholders a $60 cash payment for every share they owned. Company officials apparently believed the huge new debt would make Allegis a less attractive takeover target and that the cash payout would placate Coniston and other restive shareholders. They were wrong. The pilots still talked takeover, and Coniston pressed forward with its proposal to break up the company, maintaining that Allegis stock, then hovering in the 80s, remained undervalued...