Word: rumoring
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...location of the building was irresistible—I live in a building that overlooks New York’s exclusive Gramercy Park, and yes, I have a key. Rumor has it that Julia Roberts lives in the building next door. Ignoring my journalistic instincts, this is a rumor I have propagated without bothering to confirm its veracity. The rent isn’t bad either, considering I get my own room (more than most of my friends at NYU can say), and two mostly-edible meals a day. So I traded in my scented candles for votive ones...
...Roman poet Vergil in The Aeneid called rumor "a huge and terrible monster," and Wall Streeters last week would have agreed. The intense speculation about Pennzoil was part of the high-stakes legal battle the company has been waging with Texaco. In November a Houston jury ordered Texaco to pay Pennzoil $10.53 billion in damages for snatching Getty Oil away in a 1984 takeover battle. After a Houston judge upheld the jury's decision, Pennzoil and Texaco negotiators tried to forge an out-of-court settlement...
Last week, in the midst of those talks, a rumor started that Texaco was offering to buy Pennzoil for $5 billion. If the gossip proved true, the value of each Pennzoil share would instantly have been 105. But instead of creating a gusher of wealth, the rumor turned out to be a dry hole. Pennzoil Chairman J. Hugh Liedtke denied that any merger was imminent, and the stock slumped...
...market had an element of mystery as well. The buying binge may have been fueled by a single investor group, possibly a Middle East consortium. One rumor has it that the Sultan of Brunei, monarch of the oil-rich country in northeast Borneo, has been buying millions of ounces of gold during the past month. He oversees a fortune estimated at $30 billion, and is said to be the world's richest man. Certainly he has the cash to play the gold market. TELEVISION Creating Static in the Skies...
That skepticism played a key part in Armacost's resignation. As he said last week, a management change was necessary because "external perceptions about the bank have been so eroded by rumor and speculation." Indeed, only a month ago, Armacost bought airtime on California radio stations to discount rumors that the bank was about to ask for federal protection from its creditors. After the executive's resignation announcement, the rumor that former BankAmerica President A.W. Clausen would return circulated along with the news of a weekend meeting of the bank's 15 directors. In Washington, Clausen issued only a firm...