Word: spins
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Dates: during 1970-1979
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Betty Williams, 33, was driving home from her invalid mother's house in the Catholic Andersontown district of Belfast on the afternoon of Aug. 10 when she saw a car spin out of control, its IRA driver shot through the heart by a British soldier. The car slammed a pedestrian, Anne Maguire, and her three children against a school railing. Maguire, a mechanic's wife, was so seriously hurt that as she lay in an intensive-care ward at Belfast's Royal Victoria Hospital last week, she still did not know that the three children-Joanne...
Alternatively, Kennecott can declare a stock dividend of its Peabody holdings and so set up the coal company as an independent entity once again. Kennecott shareholders seem to favor such a spin-off scheme and may sue if it does not come about; their expectation is that the Kennecott and Peabody shares they would have as a result of a spin-off might fare better in the stock market than Kennecott alone. Trouble is, Kennecott has acted as if the divestiture order did not exist. The company lavished management time on running Peabody and spent $532 million to buy equipment...
...Considerations. What Kennecott needs to return its copper business to health is the money it put into Peabody. Unfortunately, the only way to recoup the $532 million in a spin-off would be to have Peabody borrow the money. But that would saddle the coal company with such an onerous debt that its future growth would be imperiled...
Kennecott's final option is to sell 20% of Peabody and spin off the remaining 80% to shareholders. (These proportions would be dictated by complicated tax considerations.) Though this would provide some of the needed cash and probably please many stockholders, like all compromises it falls well short of what managers and shareholders hoped...
...Million Dollar Man has been so fruitful during its first three years on ABC that it is replacing All In The Family as the busiest spin-off nursery. The Bionic Woman came first, after lovely Lindsay Wagner made some guest appearances on the parent show. Wagner bounded into the ABC schedule with her own program to share the Top Ten ratings...