Word: turneritis
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...Turner has had a flamboyant lifestyle, and his true character is difficult to fathom. He can put on the charm or turn rude and overbearing. The father of five, including a son named Rhett, he preaches family values yet is celebrated in Alanta as one who does not always practice them. He works obsessively but just as easily becomes a raucous, tobacco-chewing, beer-swigging good ole boy. A yachtsman who defended the America's Cup in 1977 and won the title Captain Outrageous, Turner showed up at a victory press conference roaring drunk and tugging at a bottle...
...past several years, Turner has tried to tone down his strutting style, seemingly in the hope of gaining acceptance among Wall Street's buttoned-down moneymen. He realized that his success in any takeover battle will depend on winning the confidence of institutional investors like pension funds, which hold more than 60% of CBS stock. Nonetheless, the drawling Southerner remains largely an outsider. When he went shopping for an investment banker for the CBS deal, he was reportedly turned down first by Drexel Burnham Lambert and then by Shearson Lehman. Finally he reached a deal with E.F. Hutton, a relatively...
Despite the odds, Turner retains one of the most bullish attitudes ever seen in the business world. "I fantasize about everything," he once said, "being a fireman, an Indian chief, climbing mountains. Anything is possible." In trying to reach the lofty summit of CBS, Turner may find that this time he is scaling a sleeping volcano. --By Stephen Koepp. Reported by Marcia Gauger/New York and Lee Griggs/Chicago
...plots its defense against Ted Turner, it will undoubtedly take a close look at a ploy that was set in motion last week by Unocal, which is trying to escape a take-over bid by T. Boone Pickens. A partnership led by Pickens, who is chairman of Texas-based Mesa Petroleum, has already bought 13% of Unocal, the twelfth largest U.S. oil company. The Pickens group is now seeking to acquire a majority of the company's stock by offering to purchase it at $54 a share. But Unocal has countered with a new variation of what Wall Street calls...
...count the pennies, or even the millions. It proved that again last week at a London auction, where the museum bought Andrea Mantegna's Adoration of the Magi for $ 10.45 million, the highest sum ever paid for a painting at auction, surpassing the $10 million paid for J.M.W. Turner's Seascape: Folkestone last year. Mantegna worked on the deeply spiritual canvas between 1495 and 1505, when he was court painter for the worldly Gonzagas of Mantua. They would have appreciated the jealousies the sale has triggered. Britain may still seek to keep the painting in the country by refusing...