Word: stockings
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...elemental planes of sea, rock and sky, are also images of a kind of moralizing earnestness that was common in French salon art a century ago. Idealizations of the peasant, reflecting an anxiety that folk culture was being annihilated by the gravitational field of the city, were the stock of dozens of painters like Jules Breton, Jules Bastien-Lepage and Jean François Millet. Homer's own America had its anxieties too--immense ones. Nothing in its cultural history is more striking than the virtual absence of any mention of the central American trauma of the 19th century, the Civil...
...reason why corporate buccaneers, sensing the potential for wage cuts and an eventual increase in corporate earnings, soon began to sniff around. Another attraction for raiders is a USX pension fund with an estimated $2.5 billion in excess assets. Last month the company's stock began moving into some well-known hands. Among the buyers: Robert Holmes à Court, an Australian investor; T. Boone Pickens, the Texas oilman-raider; Irwin Jacobs, the Minneapolis entrepreneur and speculator. Pickens reportedly cashed in his chips two weeks ago for a big profit. Icahn, on the other hand, continued to buy. Last week...
...Pittsburgh-based USX, the steel and energy giant (1985 sales: $19.2 billion), the threat was only the latest in a series of battles. Amid a lengthy steel strike, its first since 1959, and menaced for weeks by speculative stock buying and takeover rumors, the company headed by Chairman David Roderick, 62, faced an $8 billion buyout offer from Carl Icahn, 50, chairman of Trans World Airlines. At week's end it was unclear whether Icahn sought control of USX or merely wanted to pocket a hefty profit for his efforts...
...rapid-moving chain of events kept brokers busy. BankAmerica stock, which began the week at 11 3/8, hopped to a 14 7/8 close. USX shares, which have been among the most active New York Stock Exchange issues for weeks, climbed from 26 1/8 to 28 1/8, eventually closing at 27?...
Before TWA's Icahn made his advance, USX had been considered a probable takeover target for some time. Wall Street analysts considered the diversified company, formerly known as U.S. Steel, to be drastically undervalued: its stock price in no way reflects its $21 billion in assets, which include $13.2 billion worth of oil and gas holdings. Many of those energy ventures, like the $6 billion acquisition of Marathon Oil in 1982, were engineered by strong-willed Chairman Roderick precisely to raise the ante for would-be raiders. With the steel and energy businesses reeling, Roderick last August decided to pick...