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That blunt, five-word concession statement rang down the curtain last week on one of the hardest-fought and longest-running takeover sagas in American corporate history. It came after Viacom Inc., best known for its ownership of MTV, won an overwhelming victory in the epic five-month battle for control of Paramount Communications, garnering more than 90% of Paramount shares soon after the polls closed in the proxy contest. In doing so, Viacom takes home some of the crown jewels of entertainment, including the Paramount film and television studios and a library of 890 movies ranging from Wayne...
...BALL. A metal sphere just over two feet in diameter was placed at the bottom of a long, spiral track. The ball moved, as if by magic, slowly and smoothly up the perilous incline. Almost 24 feet in the air, the ball stopped . . . A pistol shot rang out, and hands holding flags emerged through holes in the ball...
David Turner was under siege last week. A junior at Brandeis University in Waltham, Massachusetts, and editor in chief of the weekly Justice, the student newspaper, he had become a pariah on campus. His phone rang around the clock with irate calls from students and alumni denouncing him as a "monster" and an "anti-Semite." His car was defaced and he was threatened with bodily harm. Some 2,000 copies of Justice were stolen and presumably destroyed, and when the issue was reprinted, 200 students rallied in protest and a guard had to be assigned to ensure the paper...
Murphy had already packed his bags, so to speak, when his phone rang. It was the University of Maine, offering him a job as a head coach...
...most important thing we earn is your trust." That Prudential Securities advertising slogan rang a bit hollow last week after the company agreed to pay the largest penalty ever levied against a brokerage for defrauding small investors. Prudential said it would repay at least $330 million to customers across the U.S. who lost money on the company's limited partnerships in the 1980s. The firm will pay another $41 million in fines. Even those hefty sums might be little more than a down payment: in settling with the Securities and Exchange Commission, Prudential said it will fully compensate all investors...