Word: twa
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...been a busy few weeks for Carl Icahn, the billionaire financier who gained fame--some would say notoriety--in the 1980s by taking over TWA and agitating for change at the likes of Texaco and RJR Nabisco. While juggling his bids to get on the board of mobile-phone manufacturer Motorola and to buy car-parts maker Lear, Icahn, 71, took a break to talk with TIME's Barbara Kiviat about imperial CEOs, movies by mail and the one thing no one ever gets about...
...Hizballah established its terrorist bona fides in the 1980s by kidnapping some 50 foreigners in Lebanon, including 18 U.S. citizens, and killing two of them, notably CIA station chief William Buckley. The group's global reach was achieved perhaps in 1985 with a suspected connection to the saga of TWA Flight 847, in which hijackers shot dead a U.S. Navy diver and dumped him onto a Beirut tarmac. In 1992 Hizballah bombed the Israeli embassy in Buenos Aires, killing 29, and, in 1994, a Jewish cultural center there, killing...
Throughout, Western attention remained focused on Damascus. Both French and U.S. officials recall that the Syrians played a leading role last year in negotiating the release of 39 Americans held hostage aboard a TWA jet in Beirut, and that they helped free three Soviet hostages in Beirut last October. In Washington and Paris, the hope remains that something will come of Assad's promise to work quietly for the release of the Americans and Frenchmen held hostage. Simultaneously, the Hindawi trial is being closely watched to see whether it will yield any conclusive proof that Syria sponsors terrorism. --By Jill...
...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...
What gave Icahn's offer most of its credibility, though, was his surprising success at TWA. The New York City-born businessman took the helm of the floundering carrier 14 months ago after a bitter takeover battle. Few thought Icahn would ever be able to turn around the airline, which lost $193 million in 1985 and $257 million in the first half of this year. But after a series of hard-nosed measures, including victory in a three-month strike by TWA's 6,500 flight attendants, Icahn was able to announce earnings of $72 million for the third quarter...