Word: relinquish
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...most nagging question is when Iacocca plans to relinquish the driver's seat. Sitting in his cluttered office and smoking an eight-inch Cohiba cigar given to him by the Italian Minister of Foreign Affairs, Iacocca answers the question by first conceding that he has slowed down a little. "I * can't take the pace around here anymore. Those 16-hour days are for the young crowd. It comes with age -- you slow down a step like the ballplayers." But Iacocca sees no reason why he should necessarily retire at 65, and none of his subordinates wants...
Under the SEC's consent judgment, Boesky agreed to relinquish $50 million in illegal profits and pay an equal amount in civil indemnities. That is an enormous total by SEC standards: in the twelve months that ended in September the agency had obtained fines and returns of illegal profits totaling only $41.9 million. But the penalties will not bring financial ruin to a man whose reputation on Wall Street was gained by staking tens of millions of dollars on a single stock-market plunge. His worth has been estimated at $200 million, and could easily be much more...
Back in Cambridge, the rain did not stop the women during Saturday's races. The conditions helped Radcliffe create a lead it would never relinquish, but hurt the Southern teams--including favorite Old Dominion...
...their portfolios, selling stock in companies that can be expected to pay higher taxes under the revised rules and buying the shares of firms that will benefit from the changes. The losers may include companies in such capital-intensive industries as utilities, chemicals, semiconductors and steel, which will relinquish numerous tax breaks. The investment tax credit will be dropped, for example, and depreciation schedules will be stretched out from 19 years to 31.5 years for commercial buildings, making plant expansion a more expensive proposition...
...influential companies. While a five-member management team searches for a permanent successor to Wyman, Paley will be acting chairman and Tisch will serve as chief executive. For the 84-year-old Paley, it is a triumphant return to a throne that he had never really wanted to relinquish. But clearly the man who has captured control of CBS is Tisch, 63. The shrewd investor and conglomerateur is now far and away the company's largest shareholder, with 24.9% of its stock (Paley is next with 8.1%). The irony of Tisch's sudden rise to dominance was considerable, since...