Word: tradings
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Dates: during 1980-1989
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...word evokes quaint images of cabinetmakers or alchemists teaching eager youths the secrets of their trade. Yet apprenticeship -- the acquisition of knowledge through practice in the presence of a master -- is a time-tested teaching method whose applications go far beyond the shop floor. The principle is at work every time someone takes a total-immersion language lesson, follows a doctor on his rounds to learn how to practice medicine, or tags along with a crack dealer to learn the ropes of the drug trade. In fact, a body of scientists and educators maintains that it is the primary means...
Take Joni Evans, publisher of adult trade books at Random House. Two years ago, when she worked in a top editing job at rival Simon & Schuster, Evans was so determined to keep author Mario Puzo in her literary camp that she offered him a $3 million advance for his next book, sight unseen. A competitor outbid her by $1 million, so she matched the offer. "When I have to have it, I have to have it," she explains. The Godfather author, who jumped to Random House when Evans moved there in late 1987, is expected to deliver his pricey manuscript...
...consolidation has left it dominated by about six major houses, each infused with capital, each run by managers whose favored reading is the bottom line, and each part of, or with ambitions to be, an international publishing conglomerate. In the past three years alone, the adult general-interest book trade has been transformed by at . least 16 major acquisitions, from the 1986 purchase of Doubleday by West Germany's Bertelsmann (price: $500 million) to last year's takeover of Macmillan by British publishing magnate Robert Maxwell ($2.7 billion). As early as 1987, Warner Books chairman William Sarnoff quipped...
...huge investments in Texaco and USX. But last week Texaco's largest stockholder sent a quiver through the New York Stock Exchange when he abruptly unloaded his 17.3% stake, or 42 million shares, for $2.07 billion (his profit: $600 million). The sale, which ranked as the largest single trade in Big Board history, was so unwieldy that three investment firms -- Shearson Lehman Hutton, Goldman, Sachs and Salomon Brothers -- teamed up to buy the shares. The bombshell transaction freed Icahn to prowl once more, setting off speculation that he would make another move to take over USX. Icahn owns some...
...furor over Salman Rushdie's The Satanic Verses-which many say blasphemes the prophet Mohammed and which she eventually banned--has also helped destablized her regime. problem of Afghan refugees and an ensuing drug trade. And Bhutto has said she hopes to depend on U.S. help with these problems...