Word: select
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While most individual investors seek the relative safety of funds, a select breed plays the hazardous game called risk arbitrage. These daredevils buy stocks in companies that they think are vulnerable to a takeover. If one of these firms does indeed receive a merger bid, the arbitragers stand to make huge profits, but they can suffer staggering losses if no deal materializes. In 1985, arbitragers boosted the price of shares in dozens of companies before they were acquired, including General Foods, RCA, Revlon and Richardson-Vicks...
...NASA's Journalist-in-Space Project had to be postmarked Jan. 15 at the latest to be considered in the competition that will place a writer, editor, broadcaster, photojournalist or even cartoonist on a space-shuttle mission perhaps as early as this fall. The chosen one will join a select group of spacegoing civilians, including Republican Senator Jake Garn of Utah, who flew on Discovery last April; Democratic Congressman Bill Nelson of Florida, who went along on last week's much delayed mission of Columbia; and Social Studies Teacher Sharon Christa McAuliffe, picked from 11,400 educators in a similar...
...been funded with stealth as well: its budget is all but invisible even to the Congressmen who must approve military funding. In Pentagon parlance, the bomber is one of the rapidly growing number of "black" programs. Because the programs are classified at levels above top secret, only a few select congressional committee members and a handful of staffers are allowed to analyze the numbers or even know the purpose of such budget items...
Speaking before television cameras in Vienna's ornate Hofburg Palace, Austrian President Rudolf Kirchschläger was at pains to select his words carefully. His aim: to render a balanced judgment for his 7 million countrymen about accusations that Presidential Candidate Kurt Waldheim, the former United Nations Secretary-General, had knowingly falsified his World War II record and was involved in Nazi atrocities...
...evidence mounted that both the aircraft and its crew had long associations with the CIA, some Congressmen grew dubious about Administration professions of ignorance. Said Minnesota Republican David Durenberger, chairman of the Senate Select Committee on Intelligence: "I assume somebody in the United States Government knows something about this, and the sooner they speak up the better." Hasenfus' capture came only a week before final passage of $100 million in military and economic aid for the contras is slated by Congress...