Word: salvoing
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...Ford's salvo came as GM was negotiating a joint venture and minority stake in the successful but cash-strapped British carmaker. Now analysts expect that GM may be forced to try to buy the firm outright to prevent Ford from making a hostile raid. Should the battle between the two U.S. giants become heated, analysts predict, Jaguar shares currently valued at $2 billion might fetch as much as $2.9 billion...
...city of Boston this week fired another salvo at Harvard over the University's plan to buy an Allston-Brighton office building, just as administration officials worked to repair relations with the community that have been strained by the impending purchase...
...Bruins extended their lead to seven points when Kirk Salvo defeated Tim Kierstead at 150 lbs., and made the score 17-6 when E.C. Meulhaupt routed Fred Jenkins, 19-5, in the 158-1b. division...
Consumer advocates have been campaigning in recent years to get companies to eliminate tropical oils. Last fall Phil Sokolof, founder of the National Heart Savers Association, fired the strongest salvo yet in the ongoing battle. He began placing full-page ads in leading newspapers lambasting U.S. food processors for "the Poisoning of America" and featuring photos of their offending products. Sokolof, 66, a building-materials manufacturer in Omaha who suffered a heart attack 22 years ago, has spent $2 million so far on his crusade. Says he: "People feel like they have been deceived by the food companies." Sokolof points...
Milken's junk bonds remained innocuous until the mid-'80s, when he began using the securities to raise mountains of money for hostile takeovers. In fact, the preferred opening salvo of corporate raiders became the dreaded letter from Drexel in which the firm stated it was "highly confident" of coming up with the necessary cash. In some cases, like T. Boone Pickens' failed bid in 1984 for Gulf Oil, Drexel charged a hefty fee for lining up money that it never had to deliver. But in many other raids, including Ronald Perelman's 1985 takeover of Revlon, Milken raised billions...