Word: shamrocked
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...takeover. Dubbed "tin parachutes," the payments sometimes reach 250% of an employee's annual salary. Webb Bassick, a partner at Hewitt Associates, a consulting firm, estimates that as many as 15% of all large public companies have such packages. Among them are Mobil, America West Airlines and Diamond Shamrock, an oil conglomerate. Says Bassick: "It's refreshing to see companies looking at their moral obligation to employees" -- and countering corporate raiders at the same time...
Mulroney has been unable to convince Canadians, who are skeptical about U.S. intentions toward their country, that he enjoys a "special relationship" with President Reagan. The Prime Minister disappointed Canadians when he returned to Ottawa from the 1985 Shamrock Summit in Quebec City without a U.S. commitment to help clean up acid rain. Though he managed last spring to get American agreement to discuss a free-trade treaty between the two countries, many Canadians feel that both he and his government have been too quick to knuckle under to the U.S. on matters such as lumber and steel exports...
Among them were January 1985 merger talks between Diamond Shamrock, a Dallas energy firm, and Occidental Petroleum -- discussions that subsequently broke off. Another case is said to involve T. Boone Pickens' February 1985 takeover bid for Unocal. Pickens eventually backed away after Unocal bought up his holdings in the company. Analysts estimate that he broke even on the takeover bid. Yet another situation reportedly involves a successful June 1985 offer by the voracious Wickes for Gulf & Western's consumer- and industrial-products group, which manufactures such products as Simmons mattresses and Burlington hosiery...
Sporting a shamrock in his lapel, Ronald Reagan was about to get his hair cut in the White House basement when he took time to talk to Washington Contributing Editor Hugh Sidey. As the subject turned to Nicaragua, the President's St. Patrick's Day cheer evaporated and he became unusually intense and passionate. Excerpts from the interview...
...that acid rain was caused by trees. In a St. Patrick's Day meeting a year ago in Quebec City with Canadian Prime Minister Brian Mulroney, the President rejected requests from his fellow Irishman for U.S. action. But last week in Washington, during his second "shamrock summit" with Mulroney, Reagan changed his tune. Acid rain, said he, "is a serious concern affecting both our countries...