Word: profit
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Dates: during 1980-1989
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Secord was not the only middleman who saw opportunities for profit in the Reagan Administration's private foreign policy ventures. Saudi Arms Merchant Adnan Khashoggi and Iranian Manucher Ghorbanifar earned lucrative commissions on the sales of U.S. weapons to Iran. Fund Raiser Carl Channell reportedly kept 35% of the private donations he solicited for the contras to bankroll his plush Washington offices, stretch limos and hefty payments to friends and associates. Even Oliver North, the superpatriotic National Security Council aide who ran the Iran-contra initiatives, cashed $2,000 worth of traveler's checks received from Contra Leader Adolfo Calero...
Reed's approach is unlikely to win universal applause in the banking industry either. For one thing, the measure will force other holders of Third World loans, most notably such profit-parched institutions as BankAmerica ($7 billion in Third World loans) and Manufacturers Hanover ($7.5 billion), to agonize over whether to match it. Not all the big banks are in the same relatively good shape as Citicorp, and thus they are less able to take such action. Says one top New York City banker: "Reed is being really selfish. The stakes are much higher than the future of a single...
...daily newspapers, two magazines (Esquire and Redbook) and two book companies (Arbor House and William Morrow & Co.). Since the company remains privately owned, the balance sheet is a closely held secret. Industry observers calculate that Hearst's gross revenues last year totaled $1.9 billion, leaving an estimated pretax profit of $285 million...
...with Media Mogul Rupert Murdoch over the Herald and Weekly Times, Australia's largest media group. Last August Holmes a Court disclosed that he was seeking a 15% stake in USX, the steel giant. As takeover speculation pushed the price of the stock upward, he reportedly took a profit on a block of his shares...
...Texaco's bankruptcy filing in April. On the other hand, Holmes a Court's purchase may mean that he believes a settlement between the two sides is in the wind, a development that would push up Texaco's stock price and earn Holmes a Court a fast profit...