Word: seagram
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Dates: during 1980-1989
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...bring in its own people. It took only 16 months, for example, for John Duncan, 62, to pull the ripcord on his $1 million golden parachute after the company he headed, St. Joe Minerals Corp., was bought 18 months ago by Fluor Corp. to escape a hostile bid by Seagram Co. Ltd. of Canada...
...largest white knight merger of all was Du Pont's purchase of Conoco in September 1981 for $7.4 billion, against hostile bids by Mobil and Seagram. Conoco has turned into Du Pont's most profitable division; its performance blocked Du Pont's earnings last year from being even lower than they were. But the recession has weighed heavily on the chemical giant, making the huge debt from the Conoco purchase harder to carry, and forcing the company to omit its customary extra year-end dividend. To save money, Du Pont executives have announced plans to close Conoco...
...Union last week, a little dazed by Russian rhetoric but encouraged by the prospects of doing more business with the Soviets. Executives for Ingersoll-Rand, for example, arrived with a fistful of projects on which the Soviets wanted bids from the big New Jersey equipment maker. Distiller Joseph E. Seagram & Sons of New York struck a deal to sell the Soviets 8,600 cases of liquor for their hotel industry. Along with the booze will go a much needed seminar to teach Moscow's bartenders how to be less surly...
MARRIED. William Agee, 44, chairman of Bendix Corp.; and Mary Cunningham, 30, vice president of Joseph E. Seagram & Sons and former vice president of Bendix, who quit that post after rumors credited her promotion to a romance with Agee; both for the second time; in San Francisco. Agee recently converted to Roman Catholicism, and Cunningham won an annulment of her first marriage...
...breakfast clubbers like Movie Producer Alan Silverman, a meal of scrambled eggs, toast and coffee at the Polo Lounge is also a chance to catch up on industry gossip. Others say the meal adds an important new extension to the workday. Says Seagram Vice President Mary Cunningham, who had breakfast with Bendix Chairman William Agee at the Helmsley Palace in New York shortly before they announced their engagement: "You are always looking for social situations where you can do business, and breakfast increases those times...