Word: schwartzbergs
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
American tourists who defy the alarms are sometimes viewed at home as mad adventurers. "When I told my friends we were going to Israel, they said, 'What! Are you crazy?' " says Florida Dentist Selden Schwartzberg. "They're the ones who are crazy -- for staying at home." To date there have been no reports of injuries to tourists, and the Schwartzbergs are confident that their guide will keep them away from the trouble spots. "I've seen more crime in Hollywood, Fla., than I have seen in all of Israel," says Maureen. "American Jews should be ashamed to stay away...
...Icahn began buying shares in the company when it declared bankruptcy last spring after failing to reach any settlement with Pennzoil, which had won a $10.3 billion judgment against Texaco in a Texas court. Icahn got his chance to help break the impasse in December, when Bankruptcy Judge Howard Schwartzberg ruled that Texaco's shareholders could strike their own deal with Pennzoil, with or without the approval of Texaco management. Before long, spurred in part by Icahn's repeated phone calls and meetings with Pennzoil officials and Texaco investors, the two sides agreed to the $3 billion settlement...
...Texaco's biggest shareholder, Icahn controls 14.8% of the nation's third largest oil firm (after Exxon and Mobil). Nevertheless, Texaco has blocked his attempts to play a direct role in planning the reorganization. The company's proposal, which Schwartzberg approved last week, must now be accepted by Texaco stockholders. Icahn says he may team up with other investors to acquire a larger stake in the firm, and may also attempt to put his own hand-picked directors on the Texaco board...
Nonetheless, as New York Bankruptcy Judge Howard Schwartzberg assumed his overseeing duties with Texaco, it seemed to many analysts that the company had suddenly gained the upper hand in the high-stakes brawl it had appeared to be losing. Said Sanford Margoshes, an oil analyst at the Shearson Lehman Bros. investment firm: "Texaco has bought time. Its prospects are not as bleak." Wall Street seemed to agree. When the New York Stock Exchange opened trading after Texaco's bankruptcy filing, the company's stock dropped from 31 7/8 to 28 1/2 a share. Then the holdings rebounded, closing last week...
...management will operate much as it usually does. One of the attractions of the relaxed 1978 bankruptcy laws is that day- to-day management of an affected firm remains in the hands of its executives rather than those of a court-appointed trustee. Bankruptcy judges like Texaco's Schwartzberg oversee broader matters, such as the sale and acquisition of major assets, in consultation with committees of creditors...