Word: stockton
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Dates: during 1980-1989
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...Fort Worth's billionaire Bass brothers and an accomplished takeover artist in his own right, joined the trend. He led a group that agreed to put up $550 million in capital to take over the financially comatose American Savings and Loan Association (assets: $30.8 billion) of Stockton, Calif. If he can turn American Savings around, Bass, like many other new owners who have paid fire- sale prices for their S and Ls, stands to earn an enormous profit. The deal seems virtually guaranteed to succeed: as part of the rescue, the Federal Home Loan Bank Board pledged a record...
...regulator wants to expedite bailouts before the current fiscal year ends, on Sept. 30, so that next year's FSLIC spending will stay within the confines of the Gramm-Rudman deficit-reduction law. Wall's next rescue candidate could be a whopper: the American Savings and Loan Association of Stockton, Calif., whose bail-out may cost $2 billion...
...Madden's early broadcasting partners, Dick Stockton, says flatly, "Nobody else is even in his league. You know why? He sees through things." Six years ago, Madden joined Pat Summerall in the broadcast booth, and they have become an institution. Summerall, a former New York Giants place-kicker, smoothly handles the play-by-play and generously provides Professor Madden time to explain what just happened...
...official site-selection process began last week, when the Energy Department issued invitations for proposals. But more than a dozen states had jumped the gun. So far Illinois has spent $4.5 million in developing its proposal for siting the SSC near Fermilab, and California has picked its spot, near Stockton. South Dakota has appropriated $900,000 to land the accelerator. Texas is promoting ten different sites for the tunnel and considering a $1 billion bond issue. Says Texas Governor Bill Clements of the SSC: "It could be bigger than NASA." Particle-physics fans are cropping up in the most unlikely...
...time for him to affix his signature to the act of his ennoblement, Macmillan fumbled and had to be guided. Then, straight and firm, he held the paper containing the oath close to his failing eyes and read his pledge in a clear, ringing voice: "I Harold, Earl of Stockton, do swear by Almighty God that I will be faithful and bear true allegiance to Her Majesty...