Word: settlements
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Dates: during 1980-1989
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...spent nearly five months trying to elude Pantry Pride, a Florida supermarket chain that is about one-third Revlon's size, but the cosmetics king was finally acquired for $2.7 billion in November. Though Bergerac's pain at seeing his company bought was eased by a $36 million parting settlement, or golden parachute, he still talks like a bitter man. "The whole thing was crazy," he says. "Here we built a great American corporation. Then through this process the stock ended up in the hands of arbitragers, who forced the sale of the company. And junk-bond financing made...
...worth the amount of the decision plus attorney's fees and interest, in this case, about $12 billion. Texaco said that it could not come up with so much money without going bankrupt. Pennzoil agreed to a grace period during which Texaco can prepare an appeal--or, perhaps, a settlement--without having to post bond...
Many oil-industry officials were stunned by the decision and could see little hope for Texaco, but others felt that another court will still force a compromise or lower the settlement. In 1980 AT&T was initially ordered to pay its long-distance rival MCI $1.8 billion for thwarting competition in the telephone business. The amount was later reduced to $113.4 million...
...plays. Australian political power pop virtually neglected by American radio. Hence, few will understand references to Down Under phenoms like "Jimmy Sharman's Boxers" and "Kosciusko." It doesn't matter, though. Doubling as a lawyer, lead singer Peter Garret shouts and screams about the problems of Australian land settlement and aboriginal rights to a beat so fierce it could have John Lydon running for cover. I'm no big fan of Australian music, but this album made me want to forsake Budweiser for Fosters...
Both workers and management claimed victory in a settlement which will give workers at the Harvard-affiliated centers a 2 percent cost-of-living increase and merit raises...