Word: standoff
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...sites chosen for the coming standoff are two coastal strips centered on Puerto Escondido on the Pacific Coast and Huatuxco on the Caribbean. The bees, which are reluctant to fly higher than 3,000 ft., will be funneled into passes, where they will be trapped and killed or tricked into doing themselves in. The U.S. and Mexico are sharing the $6.3 million price tag for the two- year project...
...except for mostly symbolic gestures, neither is budging. Says George Ball, chairman of Prudential-Bache Securities: "It's almost like a game of chicken. Nobody wants to be the first to give in." Even the two separate federal regulatory agencies that oversee the markets are at a standoff. If any new safeguards need to be imposed, Congress may have to take the initiative by default...
Perhaps the hottest battlefront in the New York-Chicago conflict is between the New York Stock Exchange and the Chicago Merc, which trades the controversial S&P 500 index futures. Each side in the standoff is unwilling to make any major procedural changes for fear of losing turf. The New York exchange, which was slow in setting up its own financial-futures market, controls 10% of worldwide trading in such contracts; the Chicago exchanges' share is about 80%. Contends John Sandner, chairman of the Chicago Merc: "We were so successful that it caused everyone to want to take our success...
...regime believes the Administration intends to prolong the crisis so that the U.S. can step in later with a generous aid package in return for big concessions. Among them: long-term leases for U.S. military bases and cooperation from Panamanian banks in prosecuting American tax cheats. But as the standoff continues, Noriega may find new benefactors. Libyan Leader Muammar Gaddafi, for instance, is said to be ready to loan Panama $20 million. However, Swiss bankers have reportedly turned down Noriega representatives who tried to set up a numbered account as a conduit for the money...
Though the possibility of storming the temple was not ruled out, Prime Minister Rajiv Gandhi seemed hesitant. His mother and predecessor, Indira Gandhi, had ordered the move in 1984, and it resulted in her assassination by Sikhs. Yet the new standoff probably ended the Prime Minister's policy of appeasement. Since Gandhi freed 45 imprisoned Sikh militants two months ago, some 550 people have been killed in terrorist-related violence...