Word: turneritis
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...Okay, wow!" exclaimed a slightly flustered Ted Turner, as though he could hardly believe the audacity of what he was about to propose. Facing a bright battery of TV lights at a Manhattan press conference, the self-made cable king announced last week that he will try to take over CBS, the country's top-rated TV network. Following more than a month of rumors, Turner had finally raised the curtain on what could become one of the most dramatic takeover dramas...
...Turner has put forth a novel, no-cash financing plan. His Atlanta-based Turner Broadcasting System will offer a complex package of several types of stocks, bonds and other securities worth $5.4 billion in exchange for all 31 million CBS common shares. The deal could take more than a year to complete, even if it comes offsmoothly, which is unlikely. Despite Turner's reputation for accomplishing the near impossible with such ventures as Cable News Network and SuperStation WTBS, the proposal represents an almost incredible reach. Wall Street financiers are skeptical that Turner Broadcasting, which had 1984 revenues...
Sweeping out of last week's press conference like Errol Flynn in a gray suit, the triumphant Turner embarked on a twelve-block march to his law firm's Madison Avenue office. It seemed almost like a nose-thumbing gesture toward doubters in New York City's media and financial communities. "Hey, it's Ted!" cried star-struck pedestrians. Said one admiring businessman to a colleague: "That guy's got a lot of nerve...
...crime for anyone under 21 to drink on public property but does not prohibit drinking in private homes. "If police go to a home and look through a window and see a kid drinking beer, there's nothing they can do unless they're invited in," says Craig Turner, vice chair of the Connecticut Coalition to Stop Underage Drinking (CCSUD), which has been a major force in pushing for the ordinances. "And even if they manage to get invited in, the only thing they can do is ask the kids to pour the liquor...
Other specifics in the house-party ordinances have people concerned, such as what exactly constitutes reasonable cause on the part of police. Concedes Turner of the CCSUD: "The core issue of the debate for people who oppose it is, What gives police the right to come onto their property? How do they know that if they're coming in for one thing, they won't try to find something else?" Turner maintains that police will merely respond to concerns brought to their attention by "responsible citizens," not snoop around in people's backyards...