Word: ripe
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Dates: during 1970-1979
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...because of widespread cheating and skyrocketing costs, the system is fast becoming a national scandal. This week the Senate Subcommittee on Long-Term Medical Care is holding hearings in Washington on Medicaid fraud in clinical laboratories. Says Subcommittee Member Pete Domenici, a Republican from New Mexico: "The system is ripe for plucking. Medicaid ranks as one of the highest ripped-off federal programs...
...Bids for One. Spotting a company that seemed ripe for takeover, Crane, which produces steel, valves and aerospace equipment and has sales of more than $1 billion a year, made its bid last fall. It offered a debenture with a market value of $17.58 paying 8% interest for each of 5 million Anaconda shares, or 23% of the total. Tenneco proposes to take all Anaconda stock in exchange for a new issue of Tenneco preferred, convertible into common. The terms work out to stock worth about $22 for each Anaconda share; Anaconda closed last week...
...other two vice presidents, Dr. Chase N. Peterson '52, vice president for alumni affairs and development, and financial vice president Hale Champion are not as ripe for turnover as Daly and Hall. "I don't suppose I'll be here when I retire, but that may happen," Champion said last week. But, he adds, if the "appropriate" kind of appointment would arise in a Democratic White House, he would consider taking it. One source within the administration says this about Champion: "Hale is very interested in politics and the art of government. If there is a Democratic administration...
With so much going for it, Aztec became a ripe candidate for takeover by other companies. The first attempt came on Jan. 2: Mesa Petroleum offered Aztec shareholders $22 a share. Aztec executives resisted, saying that the offer was too low. Aztec solicited other suitors, among them Southland Royalty Co. and Houston Natural Gas, which between them shoved the bidding to $32. Then Houston dropped out, leaving Aztec to Southland, a Fort Worth oil and gas distributor with annual revenues of $65 million. At week's end at least 90% of Aztec's shares had been tendered...
There are at least seven states potentially ripe for increased Soviet influence. One is Ethiopia, even though the radical regime that toppled the late Emperor Haile Selassie has so far looked primarily to the Chinese for help rather than to the Russians. Nonetheless, the Soviets have built an oil refinery and a 1,000-student polytechnical institute, and Nigeria, despite its strong ties to the West, has turned to the U.S.S.R. for warplanes and has sent 700 students to study in Soviet universities. Zambia too has gone to the Soviets for arms, as has Sierra Leone. Moscow is arming Rhodesian...