Word: stockings
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Dates: during 1980-1989
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What Liberia and Panama are to the oil tanker, Delaware is to the U.S. corporation: a friendly, light-taxing home port. Some 180,000 corporations are based there, at least on paper, including 45% of those listed on the New York Stock Exchange and 56% of the FORTUNE 500. So when Governor Michael Castle signed new antitakeover legislation last week, the impact reached far beyond Delaware's borders. Among its provisions, the law requires that takeover artists who buy between 15% and 85% of a Delaware-registered company wait three years before selling off assets or merging the target firm...
...revelers since 1912. Some citizens would like to shuck that image. "People think of Calgary as a town full of red-neck, capitalist cowboys driving Cadillacs," complains Rod Love, who works in the mayor's office. "We are the financial and technical capital of Western Canada." There is a stock exchange and a contingent of high-tech companies to back up that claim. There is even a mayor who acts plumb comfortable in pinstripes and silk ties...
...competitors agree. Suddenly hypermarkets, which can cover five football fields, are springing up across the U.S. in places as diverse as New Orleans and Kalispell, Mont. The oversize stores provide the ultimate in one- stop shopping: customers can get a haircut, buy a refrigerator and stock up on paper towels in one trip. Most "malls without walls," as Walton calls them, draw crowds with an old-fashioned lure: everyday discounts. Prices are reduced as much as 40% below the full retail level. Hypermarkets make money even at such thin profit margins because they sell such an enormous volume of goods...
Computer-launched program trades have been widely blamed for the severity of the Oct. 19 crash. Most analyses of Black Monday, however, have assumed that the stock-exchange computers on the receiving end of the selling torrent held up fairly well. Not so, says a report released last week by the General Accounting Office, the congressional investigative arm. According to the GAO, the computer systems that handle securities trading on the New York Stock Exchange suffered repeated breakdowns the week of the crash, adding significantly to the confusion and fueling the selling panic. "The October crash was a crisis that...
...room in Icahn's midtown Manhattan offices, decorated with framed stock certificates of the companies he has profitably raided, testifies to his conquests. Among the hunter's trophies: American Can, Simplicity Pattern, Hammermill Paper and Marshall Field. It is a display that would make many of his corporate victims cringe, especially the many who lost their jobs when companies were restructured as a result. Yet Icahn's headquarters is no temple to fast money, like the vaulted office of the reptilian Gordon Gekko in the movie Wall Street. Instead, it serves as a model for the unglamorous way he thinks...