Word: settlements
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Dates: during 1980-1989
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When H. Ross Perot was forced off the board of General Motors last December, many people wondered where he would park his $700 million settlement. Some of the money showed up in Silicon Valley last week: Perot announced he was buying a stake in Next, the computer venture of Steve Jobs, the co-founder and former chairman of Apple Computer. For $20 million, Perot, 56, joins the Next board and gets 16% of a company that is at least a year away from shipping its first product. Jobs, 31, will keep 63% for himself. "We feel we can call...
...number of angry plaintiffs in recent years have brought libel suits charging that they were represented, and misrepresented, by fictional characters in stories, novels and films. The latest such suit, against the film version of Sylvia Plath's novel The Bell Jar, ended last week with a court-endorsed settlement that sent a cautionary and somewhat paradoxical message: when you make things up, be sure to tell the truth...
Like two punch-drunk prizefighters who decided that enough was enough, USX and the United Steelworkers reached a tentative settlement last week of the longest steel strike in U.S. history. Steelworkers President Lynn Williams and the union's chief negotiator Jim McGeehan were all smiles as they prepared to put the agreement to a vote of the membership, but the truth was that both sides lost. The 170-day strike forced USX, formerly known as U.S. Steel, to lose $500 million in orders. Meanwhile, 22,000 union workers forfeited six months of pay. The agreement does not solve the industry...
...considerably on the Iraqi government. In a Baghdad radio address, Saddam referred to Khomeini's "human wave" assaults, accusing the Iranian leader of "appealing, as if the devil were between his eyes, for further men to push into the inferno of death." He repeated his offer for a peace settlement, which the Iranian government promptly rejected. Meanwhile, a government-controlled newspaper published a decree by the Iraqi Revolutionary Command Council asking for volunteers aged 14 through 25 to enlist in the army...
...week is running low. At the same time, the work stoppage is costing USX at least $1 million a day and forcing its customers to turn elsewhere. Says a company spokesman: "We have already lost first-quarter orders. We don't want to lose second-quarter orders." A settlement could come as early as this week...